Anthropic revenue rises 45% to $16.8 billion as AI stocks fall

Anthropic reported to institutional investors that third-quarter revenue increased by 45% to $16.8 billion, a figure that follows second-quarter revenue of $11.6 billion and first-quarter revenue of less than $5 billion, according to the Wall Street Journal. The company is reportedly preparing for an initial public offering with a valuation of roughly $2 trillion and a potential raise of up to $100 billion, with details expected in IPO paperwork over the coming weeks.

U.S. stock futures pointed lower on Thursday morning, reflecting a prior session where the S&P 500 and Nasdaq Composite recorded their largest one-day declines since July. By 02:54 ET, S&P 500 futures had dropped 38 points, or 0.5%, while Nasdaq 100 futures fell 407 points, or 1.4%. The Dow futures contract edged up 27 points, or 0.1%. The previous day's selloff was triggered by hotter-than-anticipated September consumer price growth, which led investors to bet on a Federal Reserve rate hike later this month. This shift caused U.S. Treasury yields to surge, with analysts suggesting traders moved out of riskier AI names into U.S. debt.

CoreWeave shares slid by more than 15% in the prior session, and some of its bonds hit new lows in secondary markets. Analysts at Vital Knowledge noted that while the growth rate is strong, the cooling pace of top-line expansion could undercut sentiment among investors accustomed to parabolic figures in the AI sector.

Taiwan Semiconductor Manufacturing Co. posted a record profit of 763.06 billion New Taiwan dollars for the three months ending September 30, a 69% increase from the year-earlier period. Revenue rose by 50% to NT$1.49 trillion. The company's gross margin stood at 66.4%, operating margin at 58.7%, and net profit margin at 51.1%. TSMC stated it has considered setting up additional facilities in the United States, potentially in Texas, to meet increasing demand.

Crude oil prices declined on Thursday as traders weighed supply risks from attacks near the Strait of Hormuz and reports that the U.S. is considering easing sanctions on certain vessels. By 03:35 ET, Brent crude had decreased by 1.9% to reach $104.02 per barrel. West Texas Intermediate crude similarly declined by 1.1%, settling at $94.04 per barrel. Maritime officials told Reuters that a container ship and a dry bulk container sank near Hormuz in the past 24 hours due to strikes from separate projectiles.