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Nscale's IPO pitch, Khosla's robotics warning and Anthropic's discount squeeze
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Hello, AI’s price tags got a closer look this week, from a neocloud’s IPO pitch to the discounts Anthropic gives its biggest customers. The Information’s reporters follow the money behind tech: the deals, valuations and financing decisions that decide who wins, often six to 12 months ahead of the news cycle. Subscribe for $299 and save 25% on your first year. Here are this week’s top five finance stories. An IPO built on data centers that don’t exist yet Nscale is heading to the public markets on a huge contract backlog, but nearly all of it depends on data centers it hasn’t built, and its biggest customer can walk away if they’re late. Khosla’s warning for robotics investors Vinod Khosla is one of robotics’ biggest bulls, but he told us most robotics startups are overvalued and named the AI lab he’d bet on to build the robot “brain.” Anthropic plays hardball on pricing Anthropic is cutting off discounts for big customers the moment they hit their contract caps, and OpenAI is using the opening to win some of them over. AI outgrows the old financing playbook The AI buildout is getting so big that the people building and funding it say the old rules for financing data centers no longer hold, and they’re betting on a new set of investors to fill the gap. Google starts paying for AI answers Google long argued that sending traffic to publishers was payment enough, but it’s now quietly paying publishers whose work feeds its AI answers, on terms only Google can see. Before it’s everywhere, it’s in The Information. Subscribe and save 25% on your first year for the reporting that follows the money before the market does. Subscribe now New from The Information Pro IPO Tracker Which tech company goes public next? Follow nearly 80 companies on the road to an IPO, from Anthropic and OpenAI to Discord and Strava, with expected timing, valuations and outlook for each. Gain access to the IPO Tracker, 60+ org charts, proprietary databases, exclusive newsletters, subscriber-only events and more by subscribing to The Information Pro for $749. Sign Up for Our Newsletters Every Monday (subscribers only) AI Infrastructure By The Information Staff Ann Davis Vaughan covers how tech titans are disrupting the energy sector and becoming accidental industrial giants to compete on the AI model battlefield. Sign up Follow us Download our app Explore Our Newsletters Subscribe to The Information Sent to you@example.com | Manage your preferences or unsubscribe | Help The Information · 251 Rhode Island Street, Suite 107, San Francisco, CA 94103