Geoffrey Cain

Anthropic, maker of the Claude chatbot, filed Monday for what could be the largest stock offering in history. The company is expected to be valued at around $1.5 trillion, roughly eight times its worth a year ago. Investors are being offered an extraordinary technology, but with little influence over its future. 1. AI is ‘more important than electricity,’ claims the seller Anthropic takes in more revenue each day than it earned in the whole of 2023. The tech is powerful: NASA engineers have used its coding agent to plot a route for the Mars rover. Anthropic’s prospectus says that AI will transform the global economy “in ways greater than the impact of industrialization, electricity, semiconductors, and the internet.” 2.

Silicon Valley rewards founders who talk about tomorrow’s technology as if it’s already here. A founder tells investors that a machine runs a blood test today. When the claim falls apart, the founder explains that it was only a promise about the things the machine would accomplish one day. Some investors learn the difference later, from their lawyers. Nathan Fielder and Lance Oppenheim’s new documentary, You Can See Everything, catches a founder offering that explanation on camera. Its subject is Elizabeth Holmes. For a while, Silicon Valley rewarded her lavishly. She wore a black turtleneck like Steve Jobs and posed for photographers holding up a vial of blood no bigger than a fingertip.

Cassandra was a princess, daughter of King Priam of Troy. Apollo gave her the power to see the future and, when she rejected his advances, arranged that no one would ever believe her. She warned the Trojans about the wooden horse. “All heard, and none believed the prophecy,” Virgil wrote. And so the city burned. The kingdom of artificial intelligence is now producing a stream of its own Cassandras. On September 8, a 27-year-old AI researcher named Jacob Coxon quit Anthropic – and explained why on X. The company and its rival OpenAI, where he had also worked, were “racing straight to self-improving superintelligence and gambling with our lives.” By breakfast, tens of millions of people had seen his post.

Representatives of the largest American artificial intelligence laboratories met in the White House on August 4. OpenAI, Anthropic, Google and Meta were called in to review a framework, recently completed and largely classified, that would give the government 30 days to review AI models before the public sees them and test how well they break into computers. Participation is voluntary, but the timing is not. Twice in two weeks, AI systems built to test how well they could break into computers broke into real companies instead.

Most Americans have yet to work out quite what they think about artificial intelligence, but already the AI game is under way: the buying and placing of political pawns in readiness for America’s first comprehensive federal AI law. Voters have yet to elect their senators and representatives, but the power brokers – political donors – are spending, primary by primary, to help ensure their chosen candidates survive to write that all-important legislation. Two rival networks with differing views about what this law should entail have raised more than $200 million for this year’s midterm elections.

In the spring of 1722, a 16-year-old apprentice in a Boston print shop began slipping letters under the door at night, signed by a middle-aged widow named Silence Dogood, who did not exist. The apprentice was Benjamin Franklin. His brother James, who owned the paper, had no intention of printing his kid brother, so Franklin invented a woman and let her say the things he couldn’t. Readers wrote in guessing at the author. No one suspected the boy sweeping the floor. Franklin would go on to be a printer, a postmaster, a scientist famous across Europe for his electrical experiments and a founder of libraries, fire companies and, in time, of the United States itself.

When Apple named its next chief executive last month it did so without ceremony. Tim Cook will become executive chairman on September 1; John Ternus, his senior vice-president of hardware engineering, will succeed him as CEO. The announcement came with a photograph, not a keynote: the two men walking through Apple Park, the circular glass campus in Cupertino that Steve Jobs designed with the British architect Norman Foster and did not live to see completed. It was the first Apple succession of the post-masterpiece age, and the prose matched. Apple said the transition had been approved unanimously by its board after a “thoughtful, long-term succession planning process.” Cook had spent 15 years building a company that could change its CEO without spectacle.