“Anthropic has proven that it’s very good at two things. One is product releases. The second is scaring people,” David Sacks, President Trump’s former AI and crypto adviser, said on the All-In podcast.

Sacks doubled down on X today, writing that “a growing number of people are wondering if Anthropic is the AI industry’s ‘boy who cried wolf'” and warning the company faces “a serious credibility problem” if Mythos-related threats don’t materialize.

But Sacks Says This One Might Be Real

“Anytime Anthropic is scaring people, you have to ask: is this part of their chicken-little routine, or is it real?” Sacks said. “I actually would give them credit in this case and say this is more on the real side.”

His reasoning was straightforward. As coding models improve, they get better at finding bugs, which means they get better at finding vulnerabilities, and chaining multiple exploits into novel attack vectors.

Chamath Palihapitiya was less charitable. “I think it’s mostly theater,” he said on the same episode, comparing Mythos to the GPT-2 rollout in 2019 when Dario Amodei, then still at OpenAI, staged a similar slow release over a 1.5 billion parameter model that turned out to be “a huge nothing burger.”

Cybersecurity Stocks Whipsawed On The News

The market couldn’t decide either. When Fortune first reported on Mythos in late March, CrowdStrike Holdings Inc (NASDAQ:CRWD) dropped 7% and Palo Alto Networks Inc (NASDAQ:PANW) fell 6%. When both were named as Glasswing partners a week later, CRWD posted its best day in six months, gaining 6.2%.

Anthropic declined to publicly release Mythos Preview, instead rolling it out to roughly 40 companies under Project Glasswing, a controlled cybersecurity initiative with Apple Inc (NASDAQ:AAPL), Microsoft Corp (NASDAQ:MSFT), Nvidia Corp (NASDAQ:NVDA), and JPMorgan Chase & Co (NYSE:JPM) as launch partners.

The IPO Valuation Keeps Climbing

Anthropic is widely expected to be one of the biggest IPOs of 2026.

On Kalshi and Polymarket's monthly "best AI model" market, Anthropic holds a 60% probability of finishing June with the top-ranked model. Alphabet Inc (NASDAQ:GOOGL) trails at 20%. OpenAI sits at just 6%.

Polymarket bettors also give Anthropic a 68% chance of going public before OpenAI.

OpenAI, Anthropic’s main competitor, has called the company’s reported $30 billion revenue run rate inflated.

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