News Summary

• OpenAI caught wind that Anthropic was working on an AI-powered chatbot.
• OpenAI CEO Sam Altman immediately directed employees to fast-track a competing product.
• The tension between Altman and Anthropic CEO Dario Amodei is the driving force in today’s biggest technological revolution – influencing how quickly AI tools are released.
• The companies are also at odds over how each tells its financial story to investors, according to two people familiar with the matter.
• It's rare for two such big direct rivals to raise capital at the same time, and the IPOs will be so big that they are by necessity turning to some of the same banks for help.