Important update:

Anthropic Just Split Intelligence Into Two Classes. Guess Which One You Get. The Warning Label Became the License to Sell. Anthropic released Claude Fable 5 today, the first public model from its Mythos class, the family that spooked the cybersecurity world in April with a superhuman ability to find and exploit software vulnerabilities. The benchmarks are the part everyone will quote: stronger than anything the company has ever shipped publicly, with even one of the real vibe coder's dreams: the visual leap of rebuilding an app's source code from screenshots alone... 👉 But the part worth your attention is the release structure, because it is genuinely new, innovative... and probably soon proven very efficient and lucrative. For the first time, a frontier lab is openly selling the same intelligence through two doors: ▫️ Mythos 5, the full version, goes to a vetted club of roughly 150 trusted organizations, banks, healthcare networks, security firms. ▫️Fable 5, the governed version, goes to everyone else: ask it about cybersecurity, biology, or chemistry and it quietly refuses and routes your question to a lesser model. 👉 Same brain. Two classes of access. Your tier depends on who you are... or more exactly how Anthropic is valuing you... but rest assured, everyone is paying premium. 🔹Safety as a business model🔹 Read the sequence and the design becomes visible. 📆 April: Anthropic unveils Mythos, declares it too capable for general release, and restricts it to partners shoring up their cyber defenses. 📆 Late May: the company confidentially files for an IPO, with a revenue run rate reported near $47 billion. 📆 Today: the public gets Fable 5, the Mythos brain wearing a governor, priced at roughly double the previous flagship, after 1,000 hours of external testing found no universal jailbreak. The restriction was never the obstacle to the business. The restriction became the product. Anthropic spent two months proving the model was dangerous, which is exactly what lets it charge a premium for the version that is allowed to say less. 👉 The warning label and the price tag are the same document. 🔹Why this matters beyond one company🔹 I wrote last week about Anthropic's own data showing its AI writes over 80% of its code, with the human now the bottleneck. Add today and the shape sharpens: the most capable systems on earth are consolidating behind tiers of institutional trust, decided privately by the labs themselves, one week after Washington set up voluntary government testing of frontier models. Nobody voted on the tiers. No regulator defined who counts as trusted. A private company decided which 150 organizations get the full intelligence and which several billion people get the governed one, and the market's response was to value it higher. Whatever you think of the safety logic, and the logic is of course genuinely defensible, the precedent is now set: capability itself is a permissioned asset, allocated by identity. That is the same architecture I keep describing in money. The stablecoin can be frozen by the issuer. The intelligence can be throttled by the lab. The most important infrastructure of the decade is being built with the control layer included by design, and - even better (or worse) - the control layer is what makes it sellable. 🔹Actionable NFA for Wise Investors🔹 1️⃣ The IPO is the event, and this launch is its prospectus. Fable 5 exists to prove Anthropic can ship (just in time) frontier capability at scale without scandal, the exact question an IPO buyer needs answered. With Anthropic, OpenAI, and others converging on public markets, the fall window could mint $200 billion in new listings. 👉 Again, I won't rush in IPOs. Let them price, then judge on compute access and margins, not manifestos. 2️⃣ The picks and shovels logic only strengthened. A two tier model economy still runs entirely on compute, and a $10 per million token flagship is a revenue pipe pointed straight at the infrastructure. Nvidia $NVDA, $SMH, and the power names feeding the data centers remain the bankable expression. Amazon $AMZN and Google $GOOG, as Anthropic's largest backers, hold the pre IPO exposure you can actually buy today. 3️⃣ Watch the trust tier itself become a moat. If access to full strength AI flows through vetted institutional channels, the vetted institutions gain an edge no startup can buy. That is regulatory capture by architecture, and it favors the incumbents in every industry it touches. 4️⃣ And the standing conclusion compounds again. Intelligence allocated by permission, money movable by permission. The more of the decade's core infrastructure ships with a control layer, the cleaner the case for the assets that have none. Another opportunity to remind us that Gold $GLD and Bitcoin $BTC are less a hedge against AI than a hedge against who owns the off switch. 🔹The Frontier Takeaway🔹 The story today will be benchmarks, and the benchmarks are real... but the real story will come with experience and feeling: Every little boy want to test the fastest car on earth. The bigger story is that the frontier just formalized something the industry only used to imply: full intelligence for the trusted few, governed intelligence for everyone else, and a valuation that went up because of the split, not despite it. The most powerful tool ever built now comes in two versions. 👉 The difference between them is not what it can do. It is already what you are allowed to ask...

JUST IN: 🇮🇷🇺🇸 Iranian state media confirms deal with the US and says it includes lifting sanctions, withdrawing US military from around Iran, and ending the naval blockade.

SpaceX IPO Could Shake the Nasdaq - Here’s What You Need to Know SpaceX is preparing to list on Nasdaq around June 12, 2026 at a $1.75–2.0 trillion valuation. This single IPO would instantly give SpaceX a 4.5–5% weight in the Nasdaq-100 - one of the largest single-stock weights in Nasdaq history. When you combine it with OpenAI, Anthropic, Databricks, and Stripe, 2026 could bring $3.5–5.5 trillion of new market cap into the index. That’s roughly 9–14% of the current Nasdaq Composite. This isn’t just another IPO wave. It’s potentially the largest supply shock the Nasdaq has ever faced. 👇 ◽️ Why These % Weights Actually Matter In past cycles, even stocks with small weights caused massive damage: ▫️In 1999–2000, names like Amazon (~2% weight) fell -94%, while Webvan (<0.2% weight) went to zero. ▫️In 2021, stocks with just 0.3–0.7% weight (Rivian, Snowflake, Roblox) dropped 50–85%. Now imagine what happens when multiple companies each carry 2–5% weight. The math is very different... and much more dangerous. ◽️ 2026 vs Previous Tech IPO (Bubble) Cycles ▫️1999–2000: Heavy IPO wave massive overvaluation → -78% Nasdaq crash ▫️2021: Another big wave → -33% correction in 2022 ▫️2026: Much larger capital much heavier individual weights → Base case: -15% to -25% drawdown (with potential for more) 👉The 2026 wave is 12–20x bigger in capital than 2021, with stocks carrying 5–10x heavier weights. This changes the risk profile significantly. ◽️ What You Should Do Right Now (Action Plan) This is not the time to chase hype. Here’s what smart investors should focus on: 1. Avoid buying at the IPO or immediate pop Most mega-IPOs deliver strong first-day gains followed by brutal corrections. History shows waiting pays off. 2. Wait for meaningful drawdowns Look for -30% drops before seriously considering entry. This is where real value usually appears. 3. Watch the lock-up expirations closely The biggest selling pressure usually hits 150–180 days after listing. For SpaceX, that window opens around late November – December 2026. Mark your calendar. 4. Reduce overall Nasdaq exposure If you’re heavily allocated to tech/growth stocks, consider trimming or rebalancing before the main IPO wave hits. 5. Use hedges if appropriate (and you know what you're doing) Options, inverse ETFs, or volatility products can help protect against a broad Nasdaq correction. 6. Focus on quality over momentum In previous cycles, the strongest survivors were companies with real profits and durable competitive advantages. The same will likely apply in 2026. 💡Important Note on Tesla ($TSLA) The SpaceX IPO ($SPCX) could create indirect pressure on Tesla through Elon Musk’s ownership and potential rotation out of TSLA into the new listing. I published a dedicated analysis on this exact topic on April - worth reading before the IPO - check first comment for link. ◽️ Bottom Line The 2026 Mega-IPO cycle is shaping up to be the largest and most concentrated supply shock in Nasdaq history. SpaceX alone at 4.5–5.1% weight is already bigger than almost anything we saw in 2021. When you add the other big names, the combined impact could be significant. This doesn’t mean the sky is falling — but it does mean caution and patience should be your default mode. 👉Stay disciplined and don't get hyped in FOMO. The best opportunities usually come after the initial excitement fades.

Fable 5 is state-of-the-art on nearly all tested benchmarks, with exceptional performance in software engineering, knowledge work, scientific research, and vision. The longer and more complex the task, the larger Fable 5’s lead over our other models.

Honestly @Rabby_io, this is disgusting Before I even set up my wallet, you are sending my data to - your matomo instance - and just in case track me on Google Analytics - and to be really sure dump my data into Sentry I hereby kindly inform you that this is a breach of your Privacy Policy (yes, the one that you last looked at 5 years ago) and a gross violation of GDPR Articles 13 and 46. Please stop tracking me at your earliest convenience. Thank you.