Benchmark Breakfast 11/12/26: Anthropic’s IPO, NVIDIA in Crisis, the Midterms, and $60B in VC
Jack Altman and Everett Randle of Benchmark break down Anthropic's IPO pricing, Nvidia's slide amid an alleged spy scandal, the AI stock selloff, the midterms, a $60 billion venture fundraising wave, and Sequoia's restructuring.
The gist
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Randle expects Anthropic to raise its $70 to $78 per share IPO range, now about $1.3 to 1.4 trillion, after run-rate revenue hit $81 billion.
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With news whipsawing week to week, the hosts stress zooming out, and Randle quit Twitter cold turkey, now reaching it only through Buffer.
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Nvidia fell about 30% from its peak and chip stocks over 20% in a month, as data center estimates dropped from 70-plus to 40-50 gigawatts.
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After the Democratic midterm sweep, the hosts see an AI narrative problem: 36% of Americans say AI mostly helps, versus 93% in China.
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The hosts tally $50 to $60 billion being raised by top venture firms, and Altman argues seed rounds have become permanently expensive.
Everett Randle uses it
"I did. I went cold turkey. So now I only access Twitter through Buffer."
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"I did. I went cold turkey. So now I only access Twitter through Buffer."
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