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Anthropic

Maker of the Claude models; a safety-focused frontier lab. Backed by Amazon and Google.

San Francisco, CA, US · 2021
Milestone note Jun 2026

Tiered safety deployment of a frontier model (Fable 5 / Mythos 5)

Reached

Anthropic — Anthropic released Claude Fable 5 — a Mythos-class model exceeding any it had made generally available — gated so ~5% of sensitive (e.g. cyber) sessions get a conservatively-tuned model, while the unrestricted Mythos 5 went only to vetted cyberdefenders via Project Glasswing with the US government. Days later the US Commerce Department export-controlled both models, barring all foreign-national access; unable to enforce that selectively in real time, Anthropic shut Fable 5 and Mythos 5 off worldwide (its other models unaffected) — the first time a deployed frontier AI model was export-controlled like a strategic technology.

Analysis as of Jun 5, 2025

Is frontier AI investment a bubble?

US private AI investment hit $109B in 2024 — then 2025's efficiency shock (DeepSeek) made the bubble question sharper, not simpler. Our read on whether capital is ahead of capability. (Our opinion, not investment advice.)

Our read — labelled opinion, not investment advice.