Anthropic Files for IPO Near $1 Trillion as AI Cost Concerns Mount

Pope Leo XIV issued an encyclical this week that directly challenges the unchecked advance of artificial intelligence, warning that the technology threatens human dignity through new forms of dehumanization. The document, titled Magnifica Humanitas, calls for strict regulation of the industry at a moment when companies like Anthropic are filing paperwork for initial public offerings that could value them near one trillion dollars.

The timing underscores a widening divide. While executives at Anthropic and OpenAI prepare for stock market debuts that would lock in enormous investor gains, ordinary workers and institutions are pushing back against the technology's rapid rollout. Graduates have booed commencement speakers who praised AI's promise, and employees inside companies are quietly undermining efforts to integrate the tools into daily operations. Data centers required to power the systems have become so unpopular that some firms are exploring impractical alternatives like placing them in space.

Anthropic's plans come as corporate customers begin questioning the costs. The company, founded by former OpenAI executive Dario Amodei, recently raised funds at a valuation exceeding 965 billion dollars. Its main rival, OpenAI, is also weighing a public listing. Yet surveys show many businesses are not seeing promised returns. A Bain study of nearly one thousand companies found that 40 percent reported cost savings from AI below 10 percent. One consultant described a client that accidentally ran up a 500 million dollar bill on Anthropic's Claude model in a single month.

OpenAI chief executive Sam Altman acknowledged the criticism, calling concerns over AI expenses the most valid objection raised so far. An early Anthropic investor told Axios that enterprises are now closely tracking their spending on the chatbot, a potential vulnerability as the firm seeks public investors. Business customers have been Anthropic's strongest revenue source, but that reliance could become a liability if companies shift to cheaper alternatives.

The contrast with the Vatican's stance is stark. Pope Leo's letter arrives after his recent public clash with President Trump and positions the Church against an industry whose leaders claim the technology will transform every sector. The encyclical argues that profit-driven development risks leaving displaced workers without adequate support, echoing earlier waves of automation that hit manufacturing communities hard.

Chip makers are still celebrating the boom. Nvidia chief executive Jensen Huang declared that Marvell Technology could become the next trillion-dollar company because of its role supplying connectivity components for massive AI data centers. Marvell shares jumped 22 percent after the remarks. Such enthusiasm persists even as resistance grows at universities, inside offices, and among religious leaders who see the technology's social costs mounting faster than its benefits.

The public did not vote for this acceleration, yet the infrastructure is expanding rapidly. Employees facing job threats are finding ways to limit AI's reach, while the companies driving the change prepare to convert private valuations into public wealth. The encyclical's release signals that opposition is no longer confined to niche critics but is emerging from mainstream institutions concerned about preserving human agency amid corporate expansion.