Anthropic discloses $80.7bn loss ahead of IPO

Anthropic disclosed first-half losses exceeding $80.7bn ahead of what the company said will likely be the largest stock market debut in history, according to BBC Business and BBC World reports. The AI firm, maker of the Claude chatbot, revealed the figures in listing documents published ahead of its planned share sale. The company reported revenue growth alongside the losses, though specific revenue figures were not detailed in the available reporting.

The disclosure landed alongside separate reporting that Meta and SpaceX plan to raise billions more in funding to support AI ambitions, according to the New York Times. Tesla (TSLA) chief executive Elon Musk separately predicted what the New York Times described as "guppy-level death" for a large number of AI companies, without specifying which firms he meant or a timeframe.

Separately, Brazilian markets reacted to Luiz Inácio Lula da Silva's defeat of Jair Bolsonaro in the country's presidential election, an outcome the New York Times characterized as a setback for Latin America's political right. The New York Times reported the result as a shock to local markets, though no index-level price data accompanied the report. In the Middle East, the New York Times reported a flurry of diplomatic activity around Iran running alongside separate reports of U.S. and Israeli planning to renew military action, with no resolution to either track reported as of this cycle.

In Britain, Chancellor John Healey's first Budget, due Wednesday, is expected to shield low-income pensioners from income tax after the flat-rate state pension is projected to rise 3.9% to £13,036.40 a year from April, which would otherwise exceed the £12,570 personal tax allowance, according to BBC Business.