Anthropic S-1 filing rattles tech stocks

The author argues that Anthropic's initial public offering draft filing reveals a complex web of cross-ownership, financial dependencies, and conflicting relationships with major technology giants like Amazon, Google, and Microsoft. These interwoven ties between ostensible rivals and suppliers have turned the broader tech sector into an interconnected quasi-holding company where valuations rise and fall together. Consequently, the author warns that any deflation or popping of the artificial intelligence market bubble risks triggering a broader macroeconomic recession. Open article →