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South Korean data-center startup Elice saw its stock fall as much as 36% in afternoon trading on its first day as a publicly listed company in Seoul. The sharp decline came despite the company's AI-infrastructure focus, an area that has generally drawn strong investor interest.
Bloomberg reports, citing people familiar with the matter, that Anthropic and AI infrastructure provider Nscale are close to announcing another $45 billion compute agreement, just over a month after their first deal of the same size. Sources caution that talks remain ongoing and terms could still change. TechCrunch says it has contacted both companies for comment.
CNBC's Jim Cramer said investors should not chase Monday's tech rebound, which saw the Nasdaq Composite rise about 1.1% after last week's AI stock selloff pushed the index below its 50-day moving average. Cramer identified four conditions he wants met before turning bullish again on data center stocks: improved chart patterns, hyperscaler earnings reports, the election concluding, and Anthropic completing its IPO.
Anthropic announced a 'Public Benefit Fund,' a wholly-owned entity seeded with 5% of its shares, with an option to add 2% more for every 50% rise in the company's valuation. The company says it will detail governance and valuation milestones later, alongside a public benefit report, and that the fund may pursue nonprofit donations or direct payments to groups affected by AI-driven labor disruption. Combined with co-founders' pledges to give away 80% of their equity and an employee donation-matching program, about 20% of Anthropic's shares are now earmarked for public purposes.
Anthropic has announced it will dedicate 5% of its company shares to a newly created Public Benefit Fund aimed at supporting nonprofit organisations and addressing AI's impact on jobs. The fund could grow by another 2% at the board's discretion, but none of its shares may be used for lobbying or political donations. The move comes as Anthropic prepares for a potential stock market listing that could value it above $1tn, and after it reported quarterly revenue of $16.8bn, up 45%.
Anthropic has disclosed little about the five-person Long-Term Benefit Trust that has authority to appoint and remove board members and can block major corporate actions. As the AI company moves toward a possible public offering, questions remain about how this trust operates and who controls it.
Milan-based holding company Bending Spoons, which went public on Nasdaq in July, disclosed a new $330 million investment from Berkshire Hathaway this week, bringing Berkshire's total stake to more than $900 million. Shares jumped 41% on the news before paring gains, leaving Bending Spoons with a market cap near $30 billion. The company also confirmed layoffs at recently acquired Airtable, following job cuts at other portfolio firms like Evernote, Vimeo and WeTransfer.
Anthropic told private investors its revenue grew 45 percent to nearly $17 billion, according to the Wall Street Journal. Critics and some investors say that figure falls far short of what's needed to justify the company's anticipated $2 trillion valuation, with Reuters reporting some investors are now considering a lower valuation of roughly $1.5 trillion.
Anthropic disclosed to investors that its third-quarter revenue reached $16.8 billion, up from $11.6 billion in Q2 and $4.7 billion in Q1, according to people familiar with the matter. The company said it was profitable on an adjusted basis and cash-flow positive, generating $1.70 in revenue for every dollar spent on computing power, with an IPO reportedly expected in November.
Anthropic reported quarterly revenue of nearly $17 billion, a 45% increase, according to information shared with public-market investors on Wednesday. The meeting came as the company prepares for a planned initial public offering next month.
Reliance Industries' Jio Platforms has set a price band of ₹1,065-₹1,119 per share for an offering of up to 270 million new shares, with subscription running from October 21 to 23. At the top of that range, the IPO would value Jio at roughly $108.3 billion, up sharply from its 2020 valuation of about $65 billion when Google and Meta invested billions in the company.
A securities filing showed Berkshire Hathaway purchased 10 million new shares of Bending Spoons at $33 each, a $330 million investment that pushed the Italian software acquirer's stock up 35%. This follows Berkshire's earlier $600 million investment made when Bending Spoons went public on the Nasdaq in July, bringing its total stake to 4%.