# How much is Anthropic really worth?

An episode of [Unhedged](https://invisiblenetwork.ai/podcast/1691284824), 27 Oct 2026, 22 min.

Audio: https://sphinx.acast.com/p/open/s/6478a825654260001190a7cb/e/6ae101e25a3cc3c4c4f6273c/media.mp3

Anthropic’s initial public offering is shaping up to be the largest ever. And the firm’s recently released prospectus explains how all of this is part of an enterprise for the benefit of the whole of humanity. Rob Armstrong and John Foley, head of Lex, go beyond the high-flying language to unpack why Anthropic is so hard to value and just how worried we should be about the "existential risks to humanity” thing. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

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