Anthropic has filed its IPO prospectus as investors assess the costs and risks of the AI boom.
Oil prices edged higher amid attacks on Saudi Arabia and diplomatic efforts to ease Middle East tensions, gold rebounded ahead of the Federal Reserve’s rate decision, and Elon Musk warned that debt pressures could force AI cloud companies to fail or consolidate.
Anthropic files IPO prospectus amid AI spending concerns
Anthropic has unveiled its initial public offering prospectus, planning to list on the Nasdaq under the ticker symbol “ANT”.
Goldman Sachs and Morgan Stanley are leading the underwriting syndicate.
The Claude developer reported approximately $16.3 billion in revenue in the first half of 2026, alongside a net loss of $80.7 billion, largely driven by an increase in the fair value of convertible bonds.
Third-quarter revenue reportedly rose nearly 50% quarter over quarter to $16.8 billion, with the company reporting adjusted profitability.
Anthropic’s valuation expectations have shifted amid scrutiny of AI infrastructure spending.
Reuters reported that some investors valued the company at around $1.5 trillion, down from approximately $2 trillion a week earlier.
The company was valued at $965 billion in a funding round in May.
The prospectus also disclosed AI safety risks, including model behaviour that could involve resisting shutdown, concealing information or resembling blackmail.
The listing will test investor appetite for a rapidly growing AI business facing substantial infrastructure costs and safety concerns.
Oil prices fall even as Saudi Arabia faces further attacks
Oil prices edged lower on Monday even as attacks targeting Saudi Arabia’s energy infrastructure kept supply concerns elevated.
Brent crude futures declined 0.3% to $116.37 a barrel, while US West Texas Intermediate crude fell 0.92% to $102.32.
Yemen’s Iran-aligned Houthis said they had attacked pumping stations on Saudi Arabia’s East-West crude pipeline and Riyadh airport.
Saudi Arabia reported intercepting additional missiles and drones, while a Saudi-led coalition said it destroyed three drones targeting Riyadh and southern regions.
Diplomatic efforts offered some relief to markets.
Qatari mediators travelled to Tehran, while Saudi Arabia, Turkey and Pakistan were expected to hold talks with Iranian officials.
The International Energy Agency’s chief, Fatih Birol, also said he did not expect energy markets to return to pre-war levels in 2027.
Gold rebounds ahead of Federal Reserve decision
Gold prices recovered on Monday as a pullback in oil prices eased some inflation concerns ahead of the Federal Reserve’s policy meeting.
Spot gold rose 0.41% to $4,011.90 an ounce, recovering from Friday’s low of $3,975, its weakest level since July 20. US December gold futures settled 0.4% higher at $4,023.90.
StoneX senior market strategist Bob Haberkorn attributed the recovery to lower crude prices and bargain-hunting, while expecting gold to remain around $4,000 ahead of the Fed announcement.
The central bank is widely expected to hold rates on Wednesday following its September increase.
However, traders see a significant possibility of another hike in December, with the CME FedWatch Tool indicating an 80% probability.
Investors are also awaiting US personal consumption expenditures inflation data on Thursday for further clues on the interest-rate outlook.
Elon Musk warns AI cloud firms could fail
Elon Musk warned that many AI cloud companies could struggle to survive as mounting debt and tighter lending conditions pressure operators building data centres.
Neocloud companies rent computing capacity to AI developers, often relying on substantial borrowing to purchase processors and expand infrastructure.
Musk argued that businesses without revenue streams beyond AI computing face growing financing challenges.
SpaceX, by contrast, has Starlink broadband and rocket-launch operations alongside its AI business. The company has reportedly secured $40 billion in financing for AI infrastructure, although final terms remained under discussion.
SpaceX reported third-quarter revenue of $14.58 billion, up 161%, including $7.56 billion from its AI business.
However, fourth-quarter capital expenditure is expected to reach $35 billion to $40 billion.
Morgan Stanley analyst Adam Jonas projected another $230 billion in SpaceX debt between 2027 and 2029, highlighting the scale of its financing needs.
Blackstone president Jon Gray offered a more measured assessment of CoreWeave, saying its underlying business remained strong despite financing challenges.
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