WSJ: Anthropic is targeting a September or early-October IPO, before OpenAI, whose IPO may now come as late as next year.

• Potential investors are already pressing Anthropic on cheaper Chinese AI models, tensions with the Trump administration, and growing opposition to data-center construction.

• Anthropic executives have reportedly downplayed Chinese competition by arguing that users still prefer the most capable models, while Chinese systems generally trail leading U.S. models by several months.

• Anthropic plans to push further into healthcare and biology, partly because those applications could help counter growing negative sentiment around AI.

• Claude Code has become the engine behind Anthropic's recent surge, with run-rate revenue exceeding $47B in May.

• Demand has been strong enough that Anthropic has suffered intermittent outages even after signing additional compute deals with SpaceX and Google.