Anthropic CEO Dario Amodei details AI compute costs and IPO plans with JPMorgan's Jamie Dimon

Anthropic CEO Dario Amodei said that uncertainty over computing power is the company's "deepest business dilemma" during a Friday livestream with JPMorgan CEO Jamie Dimon, ahead of the AI firm's planned initial public offering targeting a $1.4 trillion valuation and trading debut on Thursday. Amodei explained that Anthropic must forecast how much compute to buy years in advance without under- or overspending, a challenge amplified by rapid technological growth and unclear economic value creation. The company has committed around $900 billion in infrastructure investments, with half due by 2030, risking cost overruns or inability to meet customer demand. To mitigate this, Anthropic maintains over $95 billion in cash plus $36 billion in short-term investments, buying "relatively little" compute upfront and using spot-market purchases if demand surges. The IPO will add billions more, with pricing set Wednesday and trading starting Thursday.