Anthropic is pushing ahead with a massive public stock sale while a separate spy scandal around Nvidia's CEO shows just how shaky the AI boom's foundations really are.

• Anthropic filed for an IPO valuing it around $1.3-1.4 trillion, down from talk of $2-3 trillion earlier, with CEO Dario Amodei pitching it as a cure for cancer, Alzheimer's, and mental illness within a decade.
• The deal lets company insiders (not just the seven founders) sell off 10% of their shares almost immediately, unusual for an IPO, and gives them 23 separate windows over the next year to cash out more.
• This matters because Anthropic has burned through private funding and now needs regular people's 401k and retirement money to keep paying for its massive data center and computing costs, which are far bigger than its actual revenue.
• Separately, Nvidia stock dropped sharply after CEO Jensen Huang's years-long affair with a woman tied to Chinese intelligence came to light, raising questions about how Nvidia chips have been reaching China despite US restrictions.
• Nvidia alone makes up over 6% of the S&P 500, so trouble there could shake the broader stock market, even as some, including Jim Cramer, say it's a buying opportunity.

Outlook: Expect continued volatility as Anthropic's IPO proceeds and more details emerge about the Nvidia-China chip allegations, with both stories tied closely to how much ordinary investors' retirement savings are exposed to the AI industry's shaky finances.