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Edition #21 7 tokens 7 min read

Is AI writing code that's already out of date?

Cover illustration for Wednesday, November 11, 2026

Good morning! Grab your coffee, because today has big numbers and a few open doors.

The main story is money. Anthropic set its IPO price range, for a valuation of up to $1.404 trillion, and each of its seven founders could take home about $250 million. On the same day, New York's AI safety law takes effect: big labs must register, share their safety practices and report critical incidents. Meanwhile, a researcher found 35,000 apps built with the Grok Build agent wide open. A reported Microsoft Research test also shows that editing fewer than 10 neurons can plant a backdoor in an AI agent.

Here is the pattern I see. Money moves at the speed of the stock market, and agents ship at the speed of a click. Rules and checks move much slower, and incidents often come out months later. When a lab goes public, investors want growth every quarter, and I worry safety loses that tug of war. To watch: the final IPO price, the first incident reports under New York's law, and the Gemini 4 Carbon price doubling on December 1.

New to a word in this story? Learn: Fine-tuning Β· Formal verification

  1. 01 Anthropic sets its IPO range: up to $1.404 trillion, about $250M per founder Business
  2. 02 New York's AI safety law takes effect: register, disclose, report incidents Policy
  3. 03 35,000 apps built with Grok Build were left wide open Safety
  4. 04 Gemini 4 Carbon opens to all, and AI helps verify Signal's encryption Launch
  5. 05 Fewer than 10 neurons: a reported backdoor shows how small edits can hijack an agent Safety
  6. 06 Is AI making our code fragile, and stuck in 2019? Community
  7. 07 Apple is reportedly making an app to run AI models on your Mac Tool
πŸ–€β˜• This week's CafΓ© Noir Β· Opinion The Brakes on AI Are Optional. This Week Proved It Refusals can be stripped off, agents approve their own spending, a trusted update became a backdoor, and a lab going public says AI may soon speed up its own making: brakes built by the builders alone are not enough. Read Lange Cornu's take β†’
Morning Token 01 πŸ’Ό Business

Anthropic sets its IPO range: up to $1.404 trillion, about $250M per founder

Follow-up to Saturday Nov 7: Anthropic's IPO price slips, OpenAI raises at $1.25 trillion

Update on Saturday's token, when IPO buyers talked about a valuation as low as $1.1 trillion. Now Anthropic has set its price range: $70 to $78 per share. At the top of the range, TechCrunch counts an implied valuation of $1.404 trillion, fully diluted. The New York Times and The Verge say it could be one of the biggest IPOs ever, even if it falls short of earlier hopes. The Wall Street Journal's headline speaks of a $1.3 trillion valuation.

TechCrunch also reports that all seven co-founders will each sell exactly the same number of shares. At the middle of the price range, that is about $250 million in cash each. The founders stay in control of the company.

The same week, Anthropic is showing new products: Claude Meetings, which drafts plans and timelines while people talk, plus Claude Whiteboards, Sheets and Data. The Verge calls it Anthropic's own office suite. Next comes the final price and the first day of trading.

Why it matters

An IPO brings public shareholders who want growth every quarter. The pattern worries me: when this much money arrives, the pressure to ship faster grows, and safety work can slide down the list. The founders keep control, so the real question is who checks them now.

Morning Token 02 βš–οΈ Policy

New York's AI safety law takes effect: register, disclose, report incidents

Who checks the big AI labs? Until now, mostly the labs themselves. New York wants to change that. TechCrunch reports the state is preparing to enforce its sweeping AI safety law.

Major developers like OpenAI and Anthropic must register with the state. They must disclose their safety practices. And they must report critical incidents, or face fines. Our sources do not give the reporting deadlines or the size of the fines.

It comes right after the US midterms. The AI Safety Newsletter from CAIS says voters favored candidates who back AI regulation, while safety advocates still clash over strategy. Yesterday, we saw Australia move toward deadlines for reporting AI incidents. Two governments in one week, one idea: tell us when something goes wrong.

Why it matters

Incidents are often disclosed months after they happen, and a legal duty to report is a first step to closing that gap. But a law is only as strong as its enforcement. Watch what counts as 'critical', how fast reports must come, and whether the fines are big enough to matter to companies worth a trillion dollars.

Morning Token 03 πŸ›‘οΈ Safety

35,000 apps built with Grok Build were left wide open

Grok Build is a coding agent: an AI that writes and ships apps for you. Ars Technica reports that a security researcher found 35,000 Grok Build apps wide open to anyone who looked for them.

According to Ars, the apps leak a lot of confidential information. Some of it belongs to SpaceXSI, a frontier AI lab. Our sources do not say how long the apps were exposed, or if anyone misused the data.

Same story as Tuesday, new tool. Then, it was Claude Code settings files exposing passwords and API keys. Last Saturday, it was hundreds of AI hacking tools left open on the internet. Different companies, same weak spot: agents build and publish fast, and nobody checks what they leave open.

Why it matters

If you or your team build apps with a coding agent, check today what is public and what secrets sit inside. The agent will not do it unless someone asks. And ask your vendors a simple question: when a leak like this happens, how fast will you tell us?

Morning Token 04 πŸš€ Launch

Gemini 4 Carbon opens to all, and AI helps verify Signal's encryption

Two weeks ago, Google gave Gemini 4 Carbon only to a select group of 'cybersecurity defenders'. Now everyone can use it. Google calls it its strongest model yet, able to compete with the best from Anthropic and OpenAI. It comes with an agent 'swarm' feature, meaning many agents working together.

Simon Willison notes the launch price: $2 per million input tokens and $10 per million output tokens. A token is a small piece of text. On December 1, the price doubles to $4 and $20. The launch got 287 points on Hacker News.

Google DeepMind also showed AlphaProof Code. Its agents wrote three million lines of proofs in Lean, a language that lets a computer check math, to verify Signal's core encryption. And on Hacker News (429 points), the security firm VulnCheck published a November update tracking vulnerabilities discovered by Anthropic.

Why it matters

Good news first: AI that proves code is correct is exactly the kind of power we want. And still, models that find bugs can find them for attackers too. That is why Google gave defenders a head start, and that head start lasted two weeks.

Morning Token 05 πŸ›‘οΈ Safety

Fewer than 10 neurons: a reported backdoor shows how small edits can hijack an agent

Follow-up to Wednesday Nov 4: The 'Astra rewires Qwen' story gets a strong pushback

Remember last week's token on GPT-6 Astra changing a tiny part of a small Qwen model's weights? Weights are the billions of numbers that make up a model. Small edits are now a whole field, and today it shows a darker side.

A post on r/LocalLLaMA says Microsoft Research backdoored an AI agent by directly editing fewer than 10 'dormant' neurons, parts of the model that are usually quiet. A backdoor is a hidden trigger that makes a model misbehave. The poster warns people who run 'sketchy' modified models, and asks if 'sleeper agents' could become a real attack. We only have the Reddit post, not the details of the research.

Other new work points the same way. A paper on Deletion Tuning finds that zeroing fewer than 0.05% of a model's weights can match full fine-tuning. And Tree-Ising, a new paper, builds on the Astra work to repair models with tiny bit-level edits.

Why it matters

If a few neurons can teach a model good tricks, they can also hide bad ones, and a normal test may never see them. Before you run a free model from an unknown source, ask who made it and who checked it. Too often, the honest answer is nobody.

Morning Token 06 πŸ’¬ Community

Is AI making our code fragile, and stuck in 2019?

Follow-up to Thursday Nov 5: AI finds 948 Linux bugs, and 40 years of old code comes due

Last Thursday, IEEE Spectrum said AI is forcing us to pay off 40 years of technical debt, the old messy code we never fixed. Now the top AI story on Hacker News asks if AI is creating new debt. A post by Evan X. Merz, titled 'AI usage generates a fragile codebase', got 605 points and 574 comments. That many comments shows developers have strong feelings.

A second story points to one possible cause. Google Chrome's team shared a free guide on GitHub to get coding agents 'off ~2019 JavaScript, onto modern web primitives'. In simple words: agents often write web code the old way, because that is what they learned from. It got 401 points.

So the debate is no longer only 'can AI write code?'. It is 'can we live with the code it writes, five years from now?'

Why it matters

Code runs your bank, your car and your hospital. If agents write more of it, faster, and fewer people really understand it, the bill comes later, often as security holes. To be fair, I wrote fragile code long before AI, so humans are not off the hook.

Morning Token 07 πŸ› οΈ Tool

Apple is reportedly making an app to run AI models on your Mac

Local AI means the model runs on your own computer, not in a company's cloud. Your questions and files stay at home. Today, setting it up is still a bit technical for most people.

According to 9to5Mac, Apple has a new Mac app coming to make running local AI models easy. The report got 358 points and 352 comments on Hacker News, and buzz on r/LocalLLaMA. Our sources give no name, no date and no list of models, so treat it as an early report.

It fits a clear trend. Local tools keep getting better, like the free project we saw Monday that claims to run a 284-billion-parameter model with no GPU.

Why it matters

After a week of stories about chats used for training and human reviewers seeing files, local AI is a real privacy option. If Apple makes it simple, many normal people could use AI without sending everything to a server. Bon, my old MacBook may need a pep talk first.

le_dernier_mot.txt

A trillion dollars on one side, a new state law on the other, and 35,000 open doors in between. I hope the inspectors learn to walk as fast as the money.