Monday 24 August 2026
Top stories today:
Anthropic eyes $100B+ IPO at potential $2T valuation
Perplexity draws NVIDIA investment interest at $30B+ valuation
Foldable iPhone to feel durable, offer iPad-like layouts but lack Face ID
Hugging Face explores sale at $13B+ valuation
OpenAI cuts GPT-5.6 Sol API prices 20%+ for 3 months
0. Data & Calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. Anthropic said to eye $100B+ IPO at potential $2T valuation, topping SpaceX’s $1.77T
Anthropic’s bankers recently shared the projection with potential investors.
Anthropic would stage the largest-ever IPO, surpassing the $85.7B raised by SpaceX in Jun.
Anthropic has made an early pitch to potential investors to assess their appetite for its stock.
Separately, Anthropic has hired Amir Salek, former head of Google’s TPU business, as part of its chip push.
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3. Perplexity said to draw NVIDIA investment interest at $30B+ valuation
Perplexity’s annualized revenue grew to $750M+, vs. 250M at 2026-start.
NVIDIA also reportedly considered paying Perplexity billions in licensing fees and hiring some staff.
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5. Foldable iPhone said to feel durable, offer iPad-like layouts but lack Face ID
~Sep. 9: the foldable iPhone is expected to launch alongside the iPhone 18 series.
$2,000+ pricing is expected for the foldable iPhone.
Several people have already used the upcoming model.
A telephoto camera is reportedly absent from the foldable iPhone.
Touch ID is expected in place of Face ID.
Separately, Apple is reportedly largely shutting down its Vision Pro gaming team and reducing its immersive video unit.
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7. Hugging Face said to explore sale at $13B+ valuation
The startup has reportedly been working with a bank to evaluate bidders’ interest.
No deal has been reached yet.
