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Anthropic's IPO prospectus just leaked, and the numbers paint a complicated picture: a $42B loss, nearly $4.6B in revenue, and a rumored $2 trillion valuation that would rank it among the most valuable companies on Earth. Is this the biggest bubble in tech, or the biggest IPO of the AI era? In The Loop host Ejaaz Ahamadeen breaks the prospectus down line by line and lays out the bull case vs. bear case on Anthropic, so you can decide for yourself if this IPO is worth the hype.