Anthropic Just Filed to Go Public. Should You Buy the Stock?

Anthropic filed for its IPO with impressive first-half 2026 revenue of $16.3 billion (14x year-over-year growth) and narrowing operating losses, signaling improving unit economics. However, the author recommends passing on the IPO due to concerns about AI commoditization, competitive pricing pressure, and the lack of a durable competitive moat as rival AI models become 'good enough' for most use cases.