The Download: Anthropic's IPO, Smarter Power Grids, and Exercise Pills
Plus: Anthropic's listing could determine the future of the AI investment boom.
By Thomas Macaulay | October 27, 2026
This is today's edition of The Download, our weekday newsletter that provides a daily dose of what's going on in the world of technology.
Will the Real Anthropic Please Stand Up?
After weeks of frenzied speculation, Anthropic has filed its IPO prospectus. The 335-page document—roughly 100 pages of which focus on risks—lays out the company's unique view of the technology it is building and how it believes that technology will change the world.
But Anthropic has been honing its storytelling skills for years. Its public messaging is a master class in narrative capture, presenting the company as different things to different people: an AI safety organization, a profit-driven megacorp, and a group hell-bent on creating superhuman technology.
These roles come with enormous tensions. Will the IPO reveal the company behind the mask—or lean deeper into the myth-making? Take a new glimpse inside Anthropic.
—Will Douglas Heaven
Why Smarter Power Grids Matter More Than Ever
As AI data centers drive electricity demand to record highs, the grid itself is becoming a bottleneck. Grid-enhancing technologies—advanced sensors, dynamic line ratings, and software that lets operators push existing infrastructure harder—could unlock significant new capacity without building a single new power line. In 2026, with utilities racing to keep pace with the AI boom, these upgrades are moving from pilot projects to priority investments.
The Promise and Peril of Exercise Pills
A pill that mimics the benefits of a workout has long been a staple of science fiction. In 2026, it is edging closer to reality. Researchers are identifying compounds that trigger some of the same metabolic pathways as exercise, raising hopes for people who cannot work out—and thorny questions about whether such drugs would encourage inactivity or reshape how we think about fitness altogether.
This article was originally published in The Download, MIT Technology Review's weekday newsletter.