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Illustration: Aïda Amer/Axios. Stock: Getty Images

Anthropic spent this winter and spring as the darling of America's AI boom, conquering the frontier while casting itself as the industry's moral conscience.

Why it matters: Anthropic is simultaneously the world's most valuable startup and its most isolated AI leader. The company's idiosyncrasies have strained its relationship with developers, policymakers and partners as it barrels toward a potential trillion-dollar IPO.