OpenAI Cuts GPT-6.1 Terra Prices by 50% as Anthropic Files IPO Papers
Key Facts
OpenAI announced GPT-6.1 Terra, describing it as a fast, efficient model that combines detailed visual reasoning, accurate computer use and clearer, more natural writing. The company cut standard API prices for the model by 50% compared with GPT-5.6 Terra and GPT-6.1 Sol. In the Agents’ Last Exam test, Terra scored 15 percentage points higher than GPT-5.6 Terra at medium reasoning effort, at about one-third of its cost. OpenAI said the model completes tasks more than three times faster than GPT-6 Astra and GPT-6.1 Sol. The pricing and test results put the announcement’s focus on usage costs and performance on specific tasks, rather than a general claim that AI is becoming less expensive.
In the Terminal-Bench 4.0 test, OpenAI said Terra solved 50.3% of tasks at maximum reasoning effort, compared with a published score of 21.5% for GPT-5.6 Terra. The company presented this result as more than double the previous model’s published score in the same test. Its cited uses include drafting proposals, reading technical drawings, filling out forms and editing video. OpenAI made the model available to ChatGPT Work and Codex users on Plus, Pro, Enterprise and Edu plans starting on the day of the announcement. It also became available to developers through the API, according to the company.
Alongside OpenAI’s announcement, Anthropic filed an S-1 registration statement with the U.S. Securities and Exchange Commission on October 26, 2026, for a proposed IPO of its Class A common stock. The company confirmed the filing, while the Associated Press said the stock is intended to list on the Nasdaq Global Select Market under the symbol ANT. The company has not yet specified the number of shares on offer or the price range, and the registration statement has not become effective. Anthropic said the shares may not be sold, and offers to buy them may not be accepted, before the registration becomes effective. Reuters had reported that the company had not disclosed the offering terms and that trading under the symbol ANT would follow completion of the IPO.
Figures cited by the Associated Press show rapid growth in Anthropic’s business: revenue exceeded $16 billion in the first half of 2026, 14 times revenue in the same period a year earlier. Reuters reported that revenue rose 1,368% in the three months ended June 30 compared with the same period a year earlier. In its prospectus, the company warned that its revenue growth rate could decline and fluctuate. On the customer side, more than half of Fortune 500 companies and more than 30% of Global 2000 companies were among its customers, each generating at least $100,000 in revenue during the twelve months ended September 30. These figures put sales growth and the breadth of the corporate customer base at the center of the financial information the company will present to potential investors.
Anthropic’s net loss reached $80.7 billion in the first half of 2026, according to Reuters, which said the widening loss was largely due to a non-operating item related to convertible notes. The operating loss for the same period was $693 million. By contrast, adjusted operating income turned positive at $1.62 billion, following an adjusted loss of $1.85 billion a year earlier. The gap between the net loss and adjusted operating result shows the different financial measures in the disclosures covered by the report. Reuters quoted Thomas Hayes, chairman of Great Hill Capital, as saying a $1.5 trillion valuation “seems high” when compared with hypothetical annual revenue of between $16 billion and $32 billion and hypothetical annual losses of between $80 billion and $160 billion; those figures were part of his comment and are not disclosed offering terms.
The filing came amid volatility that Reuters said had curtailed the autumn IPO calendar, and rising borrowing costs that heightened investor concerns about the debt-funded boom in AI investment. The agency reported that major U.S. stock indexes rose in morning trading on October 26, with the S&P 500 up 0.5%; stock futures also briefly gained after the IPO filing announcement. In another market reading displayed on Reuters’ page via Investing.com, the Nasdaq was up 0.97% on October 26; this was an intraday reading, not a daily close. Investors described the offering as a test of sentiment toward capital spending on AI. Investor Peter Andersen said the IPO’s outcome would indicate whether support for that spending continues.
An earlier Reuters report, published on October 22, said Anthropic was moving toward an IPO in mid-November, with marketing to investors expected to begin during the week of November 9, while noting that the timetable could change. The report said other companies in AI infrastructure and data-center sectors had postponed listings amid higher interest rates and questions about the sustainability of AI spending. Following the registration filing, the number of shares and price range remain unspecified, according to the company’s disclosure. The registration has also not yet become effective, Anthropic said. The company has not disclosed final offering terms, while the start of trading under the symbol ANT remains contingent on completion of the IPO.