Lana

More on the way, but first…

Claude Creator Anthropic has just one thing on its mind, a New York stock market debut.

AI chatbot Claude's been gaining serious traction with big clients across all kinds of industries.

So now, Anthropic needs more computing power to serve them all.

It's already set aside $50 billion to build out stateside data centers.

But scaling AI at this level doesn't come cheap.

So it's not too surprising that the company's been toying with an initial public offering, IPO, one that could raise more than $60 billion.

An IPO would open the door for regular investors to get a piece of the action, not just institutions or folks who know a guy.

And that's not easy to come by these days.

See, many high-flying tech firms are staying private for longer, and that's led impatient investors to seek out novel ways to access them.

This month, Fundrise Innovation, a venture capital-like fund that holds stakes in pre-IPO , rock stars like Anthropic, OpenAI, and SpaceX, found out just how ravenous everyday investors are.

The fund's been around for a while, but it only just became publicly listed.

And in the first week, traders briefly pushed its share price up to roughly 29 times the estimated value of its assets.

First-day fireworks aside, buying shares as soon as they debut tends to come with worse long-term outcomes for investors.

But your odds improve if you buy at the initial offer price, focus on venture capital-backed names with more than $100 million in revenue, profitable ones if possible, and avoid blank-check SPAC firms that are set up just to take another company public.

Bigger businesses often fare better than smaller, riskier ones.

And tech debuts, ahem, anthropic, usually deliver the strongest post-listing returns.

Before we dive into the next story, it's time for our daily check-in with Carl.

You've got questions, he's got your answers.

Carl, what have you got for us?