Evening Scan

The week ended with AI's existential anxieties and its capital ambitions running in parallel — Anthropic calling for a pause on frontier development while simultaneously disclosing $47B in annualized revenue ahead of its IPO.

$160B — Combined fresh capital being sought by Google ($85B for data centers) and SpaceX ($75B IPO), the same week Anthropic is urging everyone to pump the brakes. (Newcomer)

Anthropic Calls for a Coordinated, Verifiable Pause on Frontier AI

The company building some of the most capable models on the planet would like everyone to slow down. The timing ahead of its IPO roadshow reads as either principled or strategic, possibly both. (The Next Web)

Ahead of Its IPO, Anthropic's Daniela Amodei Shrugs Off Doubts About AI's Returns

Annualized revenue crossed $47B in May. The growth rate is steep enough that the existential-risk framing and the growth narrative coexist in the same investor deck. (TechCrunch)

OpenAI Confirms It Will Comply With Trump's AI Model Review Order

The government gets to assess capabilities before release — a concession that sets a precedent every other frontier lab will now have to navigate. (CNBC)

Arizona's Largest Utility Proposes a 45% Electricity-Rate Increase for Data Centers (paywall)

Phoenix is becoming the test case for whether data center economics survive the moment utilities start charging them what the grid actually costs. (Wall Street Journal)