Anthropic confidentially files for IPO

Anthropic has filed confidentially with the Securities and Exchange Commission for its initial public offering. The IPO is expected to be one of the largest in US history, and will likely be joined by OpenAI, which is also expected to go public before the end of the year.

The company filed a draft S-1 form with the SEC, which does not indicate the price of the offering. The official public S-1, which will come later, will give potential shareholders a first look at the finances of Anthropic, which just last week announced that it raised $65 billion, reaching a valuation of $965 billion. This puts the company well ahead of archrival OpenAI, which is currently valued at $850 billion.

Anthropic confidentially submits draft S-1 to the SEC

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Rani Molla12m

Despite a massive surge in corporate AI spending, the technology is broadly failing to deliver the massive cost reductions executives had anticipated, according to a new global survey from Bain & Co. shared with Bloomberg. The largest share of major companies measuring their AI returns — 40% — realized cost savings of 10% or less, with poor access to internal data cited as the primary roadblock. Most had expected higher returns. More concerningly, Bain warned that many companies are using their original, overly optimistic projections — rather than their actual savings — to justify funding their next wave of expensive AI investments, creating a “circular bet with a structural leak.”

Rani Molla

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Meta thinks it can save its hardware division with AI subscriptions. There are reasons to be skeptical.

An $8 AI subscription won’t plug a $19 billion hardware hole.

A visitor is seen trying a Ray-Ban Meta glasses at a Meta

Rani Molla3h

Prosus may thwart Uber’s bid for Delivery Hero

Uber’s aggressive pursuit of Delivery Hero could hit a major roadblock. After the European food delivery giant rejected Uber’s initial $11.6 billion buyout offer, the American company pivoted, scooping up a 37% stake in the open market.

Now, Prosus, formerly Delivery Hero’s largest shareholder, is plotting a counteroffensive.

Thanks to an EU regulatory waiver Monday that temporarily pauses its mandatory stock sell-down, the Amsterdam-based investment firm is reportedly looking to either increase its stake or rally other shareholders against Uber. The goal: block the takeover entirely or force a significantly higher premium.

Prosus has warned about the loss of European tech relevance if a US giant swallows the company. Meanwhile, investors are loving the drama: the takeover tug-of-war, which also includes DoorDash, has sent Delivery Hero stock soaring over 75% in the past month.

Uber faces Prosus challenge in Delivery Hero pursuit

Rani Molla4h

Tesla sales surge in European markets in May

Tesla sales surged across Europe in May, Reuters reports, with sales jumping double and even triple digits in a number of early-reporting markets. Of course, 2025 was a very difficult year for Tesla sales in Europe, so the growth is coming off notably small denominators.

Interestingly, the resurgence is happening without EU approval for supervised Full Self-Driving, something CEO Elon Musk predicted would cause sales to “improve significantly” after blaming the absence of the tech for its weak sales.

The company has received approval for a version of its FSD tech in the Netherlands, as well as Lithuania and Estonia, and expects “EU-wide” permission in the second or third quarter.

Rani Molla5/29/26

Microsoft is reportedly building a super app to tame product sprawl — and finally crack mobile

Super apps are very 2010s, but they might be the future for Microsoft. The enterprise giant is working on combining its sprawling and often confusing product suite into a single super app expected by late summer, Fortune reports.

By unifying the tools, Microsoft is hoping that the massive popularity of some of its offerings — particularly GitHub Copilot — will rub off on its other, slower-growing products.

The tool will merge its coding assistant GitHub Copilot, its chat function Copilot, its Copilot Cowork tool, and a new agentic workflow called Autopilot. The move, known internally as “Delivering one Copilot,” will have the dual purpose of simplifying Microsoft’s fragmented desktop AI offerings and finally helping the office software giant gain a foothold on mobile, where competing tools have dominated.

Microsoft is taking a page from frenemy OpenAI’s playbook. In March, OpenAI announced plans for its own desktop super app to combine ChatGPT, Codex, and its Atlas browser into one central workstation.

Exclusive: Microsoft is building a super app that combines coding, chat, and other Copilot AI tools | Fortune

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