Anthropic IPO Filing: First Frontier AI Lab Goes Public

Samantha: Welcome to The State of Tech, The European Edition, Thursday June four, 2026. I'm Samantha Lawrence.

Bob: And I'm Bob Russell. Today: Samsung turns the Galaxy Watch into an AI health coach, Anthropic files confidentially for an IPO, Broadcom posts blockbuster AI chip revenue, BYD jumps into humanoid robots, and to close out, two things you can actually try this week: the Samsung Health Daily Cardio Load feature and LUYTEN's Ascend tower crane printer. Let's start with Samsung.

Samsung turns the next Galaxy Watch into a proactive AI health coach with new vitals scoring.

Samantha: Samsung has unveiled a major update to its Samsung Health app, and it's the kind of thing that could change how millions of Europeans think about their smartwatch. The next Galaxy Watch will get a set of AI-driven features that turn raw biometric data into actual guidance. There's a feature called Vitals, a Heart Health Score, a Daily Cardio Load tracker, and something called a Fitness Index.

Bob: And the framing here matters. Samsung is no longer pitching the watch as a gadget that just counts your steps. It's positioning it as a proactive health companion, meaning the device tells you what to do, not just what happened. Daily Cardio Load, for example, looks at how hard your heart worked during the day and suggests whether to push harder tomorrow or take it easy.

Samantha: The Heart Health Score bundles multiple signals into a single number, so users don't have to interpret a dashboard full of charts. And the Fitness Index gives you a longer-term sense of where your overall conditioning sits.

Bob: This is also a strategic move in a market where Apple, Google's Fitbit, and Garmin are all racing to be the AI health platform. Samsung's advantage is that it controls both the watch and the phone, which lets it knit data together across the Galaxy ecosystem.

Samantha: There's a question worth asking though: how much of this is genuinely new diagnostic insight, and how much is repackaging existing sensor data with a friendlier interface? Samsung hasn't published clinical validation for the new scores, so users should treat them as guidance, not medical advice.

Bob: And that's the regulatory line in Europe. Anything that crosses into diagnostic territory falls under the EU's medical device rules, which is why these features are framed as wellness, not medicine.

Samantha: For European users, the practical impact is that your watch starts nudging you with daily recommendations instead of just logging numbers. Whether that actually changes behaviour is the open question.

Bob: Right, and on to a very different kind of milestone in AI.

Anthropic confidentially files for a US IPO, signalling a new phase for the AI industry.

Samantha: Anthropic, the company behind the Claude AI assistant, has confidentially submitted a draft registration statement to the US Securities and Exchange Commission for a proposed initial public offering. In plain English, it's taking the first formal step toward going public.

Bob: A confidential filing means the documents aren't visible to the public yet. The company can iterate with regulators before showing its financials to the world. It's a common path for high-profile tech listings.

Samantha: What makes this significant is the broader signal. Anthropic is one of the handful of frontier AI labs, alongside OpenAI and Google DeepMind, and until now all of them have stayed private, fuelled by enormous rounds of venture funding. A public listing means quarterly earnings, disclosure requirements, and a lot more transparency about how the AI economics actually work.

Bob: That last point is the one investors are watching. The cost of training and running frontier models is staggering, and the revenue side, while growing fast, hasn't yet been tested under public market scrutiny. An S-1 filing eventually forces the company to show its numbers.

Samantha: For the wider AI sector, this could set a benchmark. If Anthropic lists successfully, it puts pressure on competitors to follow, and it gives institutional investors a direct way to buy into the AI race rather than going through chipmakers or cloud providers.

Bob: For European investors specifically, this matters because there is no European equivalent. Mistral and Aleph Alpha remain private, and there's no near-term sign of a European AI lab heading to a public exchange. So if you want exposure to a pure-play frontier AI company, this New York listing may be the route.

Samantha: Quick interruption. If you listen to The State of Tech regularly, hit that like button and subscribe, that way you'll never miss an episode. Okay, moving on.

Broadcom's AI chip revenue jumps 143 percent to nearly eleven billion dollars in a single quarter.

Bob: Broadcom has reported its second quarter results, and the numbers are extraordinary. AI-related semiconductor revenue came in at 10.8 billion dollars for the quarter, up 143 percent compared with a year earlier. And the company is guiding to 16 billion dollars in the next quarter, which would be more than 200 percent growth year on year.

Samantha: To put that in context, Broadcom isn't building the chips you hear most about. It's not Nvidia's general-purpose AI accelerators. Broadcom designs custom chips for specific hyperscaler customers, meaning companies like Google and Meta who want chips tailored to their own workloads. It also makes the networking hardware that ties thousands of those chips together inside data centres.

Bob: And that's the story behind these numbers. The build-out of AI data centres has reached a point where the networking layer, the plumbing, is as critical as the chips themselves. Broadcom is selling the pipes.

Samantha: It also tells us something about the shape of the AI infrastructure market. A lot of the spending isn't going into off-the-shelf accelerators anymore. The biggest customers want custom silicon, which gives Broadcom a structural position that's hard to displace.

Bob: There's a risk in that concentration though. A handful of hyperscaler customers drive most of this revenue. If any of them slow their build-out, the growth picture changes quickly. For now, none of them are showing signs of pulling back.

Samantha: For Europe, the supply chain implications are real. European cloud providers and AI startups depend on the same global semiconductor pipeline, and when demand surges this hard, allocation tightens for everyone else.

Bob: And from chips to robots, but with a twist.

BYD confirms it's building humanoid robots and may sell them through its car dealerships.

Samantha: Chinese automaker BYD has confirmed it's developing humanoid robots, and it's floated an interesting distribution idea: selling them through its existing car dealer network. The company says its automotive AI work shares a lot of technical foundations with humanoid robotics, so the move into robots is less of a leap than it sounds.

Bob: This fits a pattern we've seen across the Chinese auto industry. Xpeng, Chery, and others have all announced humanoid programmes. The logic is that electric vehicles and humanoid robots draw on overlapping technology: sensors, batteries, actuators, real-time perception software, and manufacturing scale.

Samantha: The dealer network angle is the genuinely new bit. Until now, humanoid robots have been positioned as industrial products sold to factories or research customers. BYD is hinting at a future where you might walk into a car showroom and look at a robot the way you'd look at a sedan.

Bob: That's a long way off in practical terms. There's no consumer humanoid robot today that justifies a showroom visit, and the price points are still firmly in industrial territory. But the strategic signal is important: BYD is preparing distribution infrastructure for a market it expects to exist.

Samantha: For European industries, the competitive landscape gets more crowded. European robotics players like ABB, KUKA, and several startups are working on humanoids, but they don't have BYD's manufacturing scale or its existing retail footprint. If Chinese makers can drive costs down through automotive-grade volume production, the price competition could be intense.

Bob: There's also the regulatory dimension. Humanoid robots in workplaces will fall under EU machinery rules and, in some cases, the AI Act. So a flood of low-cost Chinese humanoids would meet a stricter compliance environment in Europe than at home.

Samantha: To close out, two things you can actually look at this week.

Samsung's new Daily Cardio Load tells you when to push and when to rest, no extra subscription needed.

Bob: First, circling back to that Samsung Health update we mentioned at the top. The new Daily Cardio Load feature is the most practical of the bunch, and it's worth flagging on its own because it's something existing Galaxy Watch users will get through the Samsung Health app update, not just buyers of the new watch.

Samantha: Here's what Daily Cardio Load actually does. It looks at the cardiovascular work you did during the day, compares it to your recent baseline, and gives you a recommendation: go harder tomorrow, hold steady, or take a recovery day. It's the same logic premium training platforms like Garmin Connect and Strava's premium tier have used for years, but built into Samsung Health at no extra cost.

Bob: The Heart Health Score is the other one to look out for. It rolls together heart rate variability, resting heart rate, and recovery patterns into a single number you can track over weeks. That's genuinely useful if you want to spot trends without becoming an amateur cardiologist.

Samantha: Practical notes for European listeners: the rollout begins on June eighth. You'll need a Galaxy Watch paired with the Samsung Health app on a recent Samsung phone. The app itself is free on the Galaxy Store and on Google Play. There's no subscription tier for these features, which is notable given the direction Apple and Garmin have moved.

Bob: Two caveats. These are wellness features, not medical ones, so don't use them to self-diagnose. And if you're not on a recent Galaxy Watch model, some of the new metrics won't be available because they need the latest sensors.

Samantha: Five minutes of setup, and you've got a daily training guide on your wrist. It's the kind of update that actually changes how you use a device you already own.

Samantha: And the second one is for the construction nerds among you.

LUYTEN's Ascend turns ordinary tower cranes into giant 3D concrete printers for buildings.

Bob: LUYTEN has launched something called Ascend, which it describes as the world's first robotic tower crane platform. In practical terms, it converts a standard construction tower crane into a 3D concrete printer capable of building structures up to 100 metres tall.

Samantha: The clever bit is that it works with cranes that are already on construction sites. You're not buying a new machine, you're attaching a robotic system to existing equipment. That dramatically lowers the barrier to using 3D concrete printing on real projects, because you don't need a specialist setup.

Bob: Now, this isn't something you can download or install on your phone. It's industrial kit aimed at construction companies. But it's worth knowing about because if you live in any European city, the buildings going up around you might start looking different over the next few years.

Samantha: The promise is faster construction, less waste, and a partial answer to the labour shortage that's hitting the European construction sector hard. Several EU countries are short tens of thousands of skilled construction workers, and that's pushing up housing costs.

Bob: If you're curious, LUYTEN's website has videos showing the system in action. It's genuinely striking to watch a tower crane laying down concrete layer by layer, building walls without a human pouring or troweling.

Samantha: Sceptical note: 3D concrete printing has been promising to revolutionise construction for years, and real-world adoption has been slower than the demos suggest. Regulations, building codes, and contractor habits all move at their own pace. But the tower crane angle is the most credible commercialisation path we've seen.

Samantha: Today we covered: Samsung's AI health features for the Galaxy Watch, Anthropic's confidential IPO filing, Broadcom's record AI chip revenue, BYD entering humanoid robots, and two things to check out: Samsung Health's Daily Cardio Load feature and LUYTEN's Ascend tower crane printer.

Bob: Want to know more or react? Visit stateoftech.eu or email us at info@doorzetters.net.

Bob: State of Tech, the tech world in 15 minutes.