Summary3 min read

WSJ Tech News Briefing: TNB Tech Minute – Eyeing IPO, Anthropic Adds Former GM Exec to Board

Date: February 13, 2026
Host: Julie Chang

Episode Overview

In this brisk, insight-packed episode of the WSJ Tech News Briefing, host Julie Chang delivers a roundup of major tech business headlines for February 13th, 2026. The lead story is Anthropic’s strategic board appointment, signaling serious IPO ambitions, followed by rapid updates on Rivian’s EV rollout, Coinbase’s market turbulence, DraftKings' mixed results, and Applied Materials’ strong AI-driven earnings.

Key Discussion Points & Insights

1. Anthropic’s New Board Member & IPO Plans

Chris Liddell’s Appointment:
- Anthropic, the AI company known for its Claude chatbot and a major competitor to OpenAI, has appointed Chris Liddell—former executive at Microsoft and General Motors—to its board.
- Liddell notably guided General Motors through its IPO, bringing valuable experience for Anthropic as it gears up to possibly go public by late 2026.
- Quote:
  
  “His appointment adds a board member with experience steering a large company through a public listing as Anthropic eyes a potential IPO, possibly by the end of this year.” — Julie Chang [00:26]
Company Valuation & Financing:
- Anthropic just closed a staggering $30 billion financing round, assigning the company a $380 billion valuation.
- This massive influx highlights both investor confidence and the surging value placed on generative AI companies.

2. Rivian’s R2 Model Launch & Stock Performance

Production Timeline:
- Rivian expects to begin deliveries of its new R2 electric vehicle in Q2 2026.
- The rollout will start with a single production shift, expanding to two in the second half of the year and three by next year.
- The R2 is positioned as a highly competitive EV at the $50,000 price point.
Market Response:
- Rivian’s shares soared over 26% on the news, reflecting strong investor optimism.

3. Coinbase’s Mixed Financial Results Amid Market Volatility

Earnings Summary:
- Coinbase posted a loss for the quarter, citing the ongoing sell-off in digital currencies.
- Despite the loss, Coinbase's stock rebounded over 16% on Friday, perhaps signaling that investors see a possible bottom or resilience in the business.
Context:
- Coinbase remains the largest U.S. cryptocurrency exchange, though shares have “fallen sharply this year.”

4. DraftKings’ Earnings: Surging Revenue but Investor Disappointment

Revenue vs. Outlook:
- DraftKings' revenue grew by 43% year-over-year. However, its full-year sales outlook failed to meet expectations.
Stock Market Reaction:
- Shares dropped 13.5% on the disappointing guidance.

5. Applied Materials’ AI-Driven Boom

Quarterly Results:
- Applied Materials' quarterly results exceeded estimates, thanks partly to “soaring demand for AI computing.”
- The stock gained around 8% on better-than-expected performance.

Notable Quotes & Memorable Moments

On Liddell’s IPO Experience:

“His appointment adds a board member with experience steering a large company through a public listing as Anthropic eyes a potential IPO, possibly by the end of this year.”
— Julie Chang [00:26]
On Anthropic’s Momentum:

“The developer of the Claude Chatbot and a key rival to OpenAI announced the close of a $30 billion financing yesterday, valuing the company at $380 billion.”
— Julie Chang [00:34]
On Rivian’s Ambitions:

“Rivian is betting that the model will be a compelling EV alternative. Around the $50,000 price point, shares closed up over 26%.”
— Julie Chang [00:52]
On Market Surprises:

“Still the largest US Cryptocurrency exchanges Stock, which has fallen sharply this year, rose over 16% on Friday.”
— Julie Chang [01:07]

Timestamps for Key Segments

00:16: Anthropic appoints Chris Liddell, GPT rival, IPO plans, financing
00:52: Rivian's R2 production and market reaction
01:07: Coinbase earnings loss but stock rallies
01:15: DraftKings revenue up, stock down on outlook
01:23: Applied Materials AI-driven earnings boost
01:34: Closing remarks and programming note

Summary:
This episode rapidly covers strategic moves by top tech companies: Anthropic solidifying IPO ambitions with a seasoned executive, Rivian planning a critical EV launch, Coinbase and DraftKings weathering volatile markets, and Applied Materials capitalizing on the AI hardware boom. It's a snapshot of a tech sector in flux and full throttle.

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Transcript8 lines

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[00:17]
Julie Chang
Here's your afternoon TNB Tech minute for Friday, February 13th. I'm Julie Chang for the Wall Street Journal. We exclusively report that former Microsoft and General Motors executive Chris Liddell has joined Anthropic's board of directors. Liddell helped take General Motors public. His appointment adds a board member with experience steering a large company through a public listing as Anthropic eyes a potential ipo, possibly by the end of this year. The developer of the Claude Chatbot and a key rival to OpenAI announced the close of a $30 billion financing yesterday, valuing the company at $380 billion. Rivian expects to begin deliveries of its new R2 model in the second quarter before production ramps up later in. Executives told analysts that the company will begin production with a single shift before adding a second in the second half and a third shift next year. Rivian is betting that the model will be a compelling EV alternative. Around the $50,000 price point, shares closed up over 26%. And in markets, Coinbase swung to a loss in a quarter marked by a sell off in digital currencies. Still the largest US Cryptocurrency exchanges Stock, which has fallen sharply this year, rose over 16% on Friday. Shares of DraftKings fell after the company reported earnings yesterday. The online sports betting Operator's revenue jumped 43%, but its annual sales outlook disappointed. Shares dropped about 13.5%. Semiconductor equipment maker Applied Materials posted better than expected quarterly results, boosted by soaring demand for AI computing. The stock gained about 8%. And that's a wrap on your TMB Tech Minutes. A quick programming note. We'll be off on Monday for President's Day, but back on Tuesday. Tuesday with more Team USA rockets out at the start.
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