Travis Wright breaks down how tech unicorns are hemorrhaging cash in the AI and crypto race. Anthropic eyes an IPO despite burning billions on Claude, Lambda gambles a billion on AI chips, and a crypto treasury play tanks before its debut.

August 28, 2026 — 265 words / ~1.8 min

Stories covered:

  1. Anthropic Aims for IPO While Burning $2.7B Annually on Claude
  2. Lambda Bets $1B in Debt That AI Chips Pay for Themselves
  3. Crypto Treasury Play Loses $200M Before Even Going Public