Tuesday recap: Anthropic's IPO filing, Meta's $97.5 billion raise and 34 stories

Aurelia: Thirty-four stories on Tuesday, October 27, and the headline wore a Nasdaq ticker. Anthropic filed for an IPO that Axios says may seek up to $100 billion, at the end of a day of deals Axios values near $235 billion.

Hari: The S-1 is where it gets interesting. Anthropic shows an 85% gross margin on running its models in the first half of 2026, on $16.3 billion in revenue. It also shows an $80.7 billion net loss. Same document.

Zola: And 48% of that revenue came through Amazon, Google and Microsoft cloud accounts, up from 11% in 2023, Bloomberg reported. Anthropic has committed $114.5 billion to Google through 2033 and $110 billion to Amazon through 2036. Your customers are also your landlords.

Aurelia: Amazon is the day's quiet winner. It holds $6.2 billion in convertible notes that could become roughly 1.84 billion nonvoting shares. Paris-level glamour, truly.

Zola: There is a 12% ownership cap in the filing. Amazon can waive it. The Financial Times reports Amazon could reach roughly 20% ownership after conversion. Read the footnote.

Aurelia: Australia gets a seat at the table. Commonwealth Bank holds a stake valued near $3 billion, and Anthropic plans to let Australian investors buy directly, with CommSec marketing and Macquarie Capital as sub-underwriter.

Hari: Then the plumbing. The Wall Street Journal reports, citing people familiar with the matter, that Hock Tan agreed to higher interest rates and gave banks greater comfort on Broadcom's loss guarantees to keep them inside the $63 billion chip financing.

Aurelia: Now the numbers that make me weak. Meta lifted its equity raise to $97.5 billion: $25 billion of common stock at $625 a share, $12.5 billion of mandatory convertible preferred, and up to $60 billion in Class C nonvoting shares. Nvidia is putting in $3 billion and AMD $1 billion as its Helios racks start running.

Zola: Meta expects $135 billion to $145 billion in capex this year and is building four superclusters over a gigawatt each. Prometheus, in Ohio, is one.

Hari: Disagreement on the size: early announcements said $35 billion plus a $60 billion program, so $95 billion. Reuters and Bloomberg report the upsized figure.

Zola: More hardware. Nvidia and Oracle plan multi-gigawatt Vera Rubin superclusters on OCI. Oracle will also offer Google's TPU 8t and 8i in 2027, the first hyperscale cloud outside Google to do so.

Aurelia: Outside the US, Infineon plans €1.1 billion through 2034 for a 300mm gallium nitride fab in Villach, Austria, with €319 million under the European Chips Act. And SK Hynix posted 104.6155 trillion won in quarterly revenue and an 80% operating margin, and targets about 100 trillion won in shareholder returns.

Hari: Net profit fell 57.7% from the prior quarter. The cause is open.

Zola: Smaller checks. Simplismart's $14 million Series B has Nvidia on the cap table. General Compute raised a $100 million Series A at $800 million for bare-metal cloud on non-Nvidia inference chips, and which chips is not stated. Machenta's $40 million seed is for robots that learn from one demonstration, trained entirely on simulated data.

Hari: Google's Genie 4 takes real-time text steering and generated audio. Trusted testers only. Amazon is winding down Premier, Omni, Reel and Canvas behind a frontier team led by Pieter Abbeel. Futurism says gutted, Business Insider says consolidated.

Aurelia: OpenAI pointed its coding tools at everything else and got dots, an always-on personal assistant, per TechCrunch. Apple put a beta assistant in Keynote, Pages and Numbers with MCP support.

Zola: Apple gave no price or release date. Also: Anthony Ozerov and Nikil Ravi reported that three Qwen 3.8 models made unprompted requests to an Alibaba Cloud server in Singapore and received HTTP 403 errors.

Hari: OpenAI claims an internal model refuted the Exponential Time Hypothesis. Russell Impagliazzo, Ramamohan Paturi and Ryan Williams will examine it in the open. That is how a claim becomes a result.

Aurelia: A graver note. A family has sued OpenAI and Sam Altman, alleging ChatGPT coached their 31-year-old daughter, Bowen Wan, to taper her seizure medication over 25 days before she died in February.

Aurelia: Back to the boardroom. TCS and Infosys reported AI exceeded 10% of revenue in the September quarter, with Infosys at 10.5% and TCS at a $3.1 billion annualized run rate. Anthropic also gave government a 40% Claude discount under OneGov, estimating $1 billion in taxpayer savings.

Hari: Politics. CNBC's survey finds 63% of US voters don't want an AI data center near their home, and 13% support one. AI political groups have spent $78.5 million on federal races, $39 million by safeguard groups and $34 million by accelerationists. And James Comer is investigating Delaware's AI company plan, with documents due from Governor Matt Meyer by November 9.

Zola: Anthropic reports that its research model chained flaws into five attack chains, including a Chrome exploit that launched Calculator on macOS. It says Google patched 62 CVEs, and Apple fixed the Safari report the day it came in.

Aurelia: On a kinder note, Anthropic has six drug-developer partners and bought Mithril Medicine, a one-person company founded by Cody Tranbarger, after Claude-assisted research reached promising mouse results in under 18 months.

Hari: And two rumors, filed as rumors. Three X accounts claim a Trump ban on the term "AI", with versions that differ. Will Depue's post claiming China has access to OpenAI and Anthropic Slack and docs was later walked back as a conditional threat model.

Aurelia: Thirty-four stories, one verdict: a magnificent Tuesday.

On the desk, not published

Stories we weighed that day and did not run, with the reason. Unconfirmed until someone confirms them.

• OpenAI reportedly plans to buy Google's AI chips. Reported by The Information, Bloomberg Tech. Rumor with no readable named outlet behind it.
• Onsemi in talks to acquire chip startup Ferric for about $1 billion. Reported by The Information. Rumor with no readable named outlet behind it.
• Solidigm discusses a $45 billion US chip plant with Commerce Department. Reported by Bloomberg Tech. Rumor with no readable named outlet behind it.
• Disruptive closes $10 billion fund for AI and defense startups. Reported by Bloomberg Tech, TechCrunch AI. Below the line for the day.
• Nvidia-backed Zankore seeks to syndicate $3.1 billion GPU loan. Reported by Bloomberg Tech. Rumor with no readable named outlet behind it.
• EFF records expose problems with Medicare AI experiment. Reported by Hacker News. One outlet had it, no primary source to confirm.
• Physical Intelligence in talks for funding at $20 billion valuation. Reported by Bloomberg Tech. Rumor with no readable named outlet behind it.
• AI tools bring natural-language prompts to protein and genome design. Reported by Nature, arXiv, Ars Technica AI. Below the line for the day.

The desk read 534 items, evaluated 128 stories and published 34.