Anthropic set its IPO range at $70–$78 per share, implying a valuation of about $916 billion to $1.02 trillion, or up to $1.405 trillion fully diluted. The offering could raise $64.4 billion, with seven computing suppliers agreeing to invest a further $26 billion. Anthropic plans to use proceeds for general purposes, including compute and infrastructure. Revenue reached $33.2 billion in the first nine months of 2026, while operating losses were $1.26 billion and committed spending totaled about $900.9 billion. Its governance structure gives founders and a trust substantial control, limiting Class A shareholders’ influence. The proposed valuation follows an AI-stock sell-off and is below earlier valuation targets.
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Hot US inflation sent Treasury yields sharply higher and stocks lower, as markets priced in faster rate increases, including the possibility of a 50-basis-point hike. Nvidia fell 5.5%, extending its decline from an October peak to 31%, while investors weighed Anthropic’s proposed IPO valuation of up to $1.4 trillion. Oil and gold also fell; the dollar strengthened.
OpenAI reported Q3 revenue of $10 billion, up nearly 50% quarter over quarter, with enterprise revenue doubling and subscriptions exceeding 100 million. CFO Sarah Friar said growth came from research, enterprise products and consumer sales. OpenAI plans to expand cloud distribution agreements, citing Anthropic’s enterprise success. Anthropic reported $33.2 billion in revenue through September and is preparing for a potential IPO in November.
The OCC granted Coinbase a national trust charter, enabling federally supervised custody and fiduciary services while not allowing ordinary insured deposits or commercial lending. A single federal regulator could ease institutional adoption and support future stablecoin services. Banks and community-bank groups oppose the approval, arguing it exceeds OCC authority and creates risks without adequate safeguards; Coinbase says it will not take retail deposits or lend customer funds.
Anthropic launched Claude Meetings, Whiteboards, Sheets, Data, and interactive software connectors, expanding its enterprise offerings ahead of a planned IPO that could value the company at up to $1.4 trillion. Microsoft shares fell more than 2% following the announcement, amid concerns about AI competition with established software firms. Anthropic reported $33.2 billion in revenue for the first nine months of the year through September, up 1,206% year over year. OpenAI is also gaining traction in enterprise sales.
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