(21 Oct - Yahoo Finance) Anthropic is set to publicly file its S-1 investor prospectus as soon as Friday, according to three people familiar with the artificial intelligence firm's plans. The move would mark a crucial next step for what could be the biggest IPO in history.

The much-anticipated public debut, expected to surpass SpaceX's (SPCX) June IPO, is widely viewed as a crucial test of investor appetite for the artificial intelligence boom, as investors have become more concerned about the industry's massive spending.

Anthropic confidentially submitted a draft IPO registration statement to the Securities and Exchange Commission (SEC) in June. Under SEC rules, companies using the confidential process must make their registration materials available 15 calendar days before the start of their formal investor roadshow.

Anthropic did not respond to a request for comment on the timing of its S-1.

A public filing would clear a key procedural hurdle toward a potential November listing, though the timing of the offering remains subject to market conditions and other factors. Crucially, it would also give regular investors their first look at the financial details and risks around one of the AI industry's fastest-growing companies.

Anthropic is spending billions on AI infrastructure to train and run its suite of Claude models. That includes working with Google (GOOG, GOOGL) and Amazon (AMZN), as well as renting out graphics processor unit (GPU) capacity from SpaceX's Colossus 1 data center.

The company pulled in $16.3 billion in revenue over the first six months of 2026 and reported a net loss of over $80 billion, according to a Tuesday Wall Street Journal report. Wall Street is anticipating that the company could raise as much as $100 billion at a $2 trillion valuation, Reuters previously reported.

Last week, Anthropic told investors at its San Francisco office that its revenue climbed to $16.8 billion in the third quarter, up from $11.5 billion in the second quarter, according to the Financial Times, noting that the company is also profitable on an adjusted basis.

The colossal offering comes as this year's banner IPO market is becoming more challenging. Earlier this week, shares of South Korean data center provider Elice plummeted a staggering 32% during its first trading day after raising $151 million. Nvidia-backed Firmus Grid abruptly shelved plans for a public listing earlier this month after investors balked at its proposed valuation, while several other companies have postponed plans to go public, citing market conditions.

Publicly traded AI-related companies have also waffled in recent days as investors become more selective over the industry's enormous spending needs. CoreWeave, in particular, has come under sharp scrutiny as investors question its future revenue prospects relative to its debt load.

The shift highlights how investors who enthusiastically bid up AI-related companies earlier this year have become more selective.

Given its enormous size, the timing of Anthropic's IPO is also expected to be a significant factor for other companies seeking to go public in the coming weeks, one person said.

CEO Dario Amodei co-founded Anthropic with his sister Daniela, the company's president.

Anthropic established a strong foothold in the enterprise market with its Claude chatbot, the popular AI coding tool Claude Code, and Claude Cowork.

Rival OpenAI (OPAI.PVT), which was initially expected to launch its IPO this year, is now projected to hit the public markets in early 2027.

Source: https://finance.yahoo.com/markets/article/anthropic-to-publicly-file-for-ipo-as-early-as-friday-sources-say-135343841.html

Meta (META) kicked off Big Tech's earnings season after the bell Wednesday, beating expectations on revenue, but GAAP earnings per share took a hit as a result of legal fees related to its teen mental health settlement.

The company also announced a 2-for-1 stock split, giving each owner of Class A Meta shares, a non-voting Class C share.

The move will allow Meta to ensure CEO Mark Zuckerberg retains overall control of the company, while allowing it to continue to finance its AI buildout.

Revenue for the quarter was an all time high of $64 billion, well ahead of the $63.3 billion analysts were anticipating. GAAP earnings per share, came in at $3.83 versus expectations of $3.56, but would have been $7.40 without the legal charge.

The company saw EPS of $1.05 and revenue of $51.2 billion in Q3 last year.

Meta also narrowed its capital expenditure projections, raising the bottom line from between $130 billion and $145 billion to between $135 billion and $145 billion.

• Premium Subscribers grew 9% year-over-year to 306 million
• Premium Average Revenue per User (ARPU) rose 7.5% year-over-year to 4.95 euros
• Monthly Active Users (MAUS) rose by 11% year-over-year to 788 million
• Total Revenue increased 14% year-over-year in constant currency to 5.0 billion euros
• Gross Margin improved by 136 basis points year-over-year to 33.0%
• Operating Income reached 672 million euros

I own spotify disclosure and numbers seem good. Will listen to the call but Spotify looks fine unlike Netflix where growth is slowing.

A 16-week phase 2 trial in 62 adults with obesity, treatment-naive type 2 diabetes and MASH found that adding an oral drug called linafexor to weekly semaglutide 0.5 mg more than doubled weight loss versus semaglutide alone. The sponsor is Cascade Pharmaceuticals, which is private.

Source:
https://doi.org/10.64898/2026.10.18.26365821

What I think this implies:

For Novo Nordisk (NVO) this is a potential way to stretch their GLP-1 further in the type 2 diabetes patients who usually lose less weight on it. Holding the dose at a fraction of the standard obesity amount while still getting better results could mean more patients covered with fewer milligrams, or a better answer for the harder metabolic cases.

For Madrigal Pharmaceuticals (MDGL) it is a competitive risk. Their approved drug Rezdiffra is a standalone MASH therapy used in exactly this obesity-plus-diabetes population, and the trial moved weight, visceral fat and liver enzymes together. If combinations like this become standard, a pure single-mechanism drug loses share.

The practical test for both names is Cascade's separate phase 2 of linafexor alone in MASH plus any announcement of a bigger or longer combination study. Both should happen if the program keeps going, but neither has a public date and the whole thing sits in the 6-24 month window.

It stops being relevant if a larger trial shows the weight-loss difference disappears once semaglutide is raised to normal obesity doses, or if the itching and lipid problems that have limited FXR drugs appear at the exposures already being used in their phase 3 program.

According to an analysis by KB Securities, Samsung Electronics has secured long term supply contracts for approximately 80 percent of its scheduled 2027 memory semiconductor production, positioning the company for potential earnings growth despite recent stock price declines.

KB Securities research head Kim Dong won detailed that Samsung finalized five year agreements covering 70 percent of its general purpose DRAM and NAND flash memory production with major global tech firms, while securing long term contracts for its entire annual high bandwidth memory production volume.

The company expects strong financial performance driven by rising prices and a product mix shift toward HBM4, which is projected to account for 80 percent of Samsung's HBM sales next year and offers a 40 percent power efficiency improvement over HBM3E.

Consequently, average HBM selling prices are anticipated to jump 100 to 150 percent next year, pushing first quarter DRAM prices up by double digits and raising projected operating profit to 367 trillion Korean won this year and 555 trillion Korean won next year. While Samsung's stock price dropped 19 percent recently due to broader macroeconomic uncertainties and concerns over artificial intelligence investment sustainability, KB Securities views the drop as a valuation adjustment rather than a decline in the company's core profit generating capabilities.

https://www.chosun.com/english/market-money-en/2026/10/20/XW457O6FKVBA5MQKEVXH6MZOSY/

Tesla reported better-than-expected third-quarter results after the bell on Wednesday, even as automotive revenue dropped. The stock rose slightly in extended trading.

Here’s how the company did, compared with estimates from analysts polled by LSEG:

• Earnings per share: 48 cents adjusted vs. 43 cents estimated
• Revenue: $28.05 billion vs. $27.9 billion estimated

Tesla’s earnings report lands a day after CEO Elon Musk told investors on SpaceX's quarterly call that it would be a “good idea” for his two companies to merge, and said the boards at both have formed special committees to discuss a possible tie-up.

Source: https://www.cnbc.com/2026/10/21/tesla-tsla-q3-2026-earnings-report.html

At this point Musk has got to be the biggest pie-in-the-sky salesman the world has ever seen; and, amazingly, people keep buying that pie. Based on its actual 12month earnings Tesla will now have a P/E of 425.

Same general story from this quarter's earnings - fundamentals that make the stock look like a $30 stock but more hype and promises to prop up the price.

Automotive business is essentially flatlined with YoY automotive revenue decreasing -3%. And energy sales - the catalyst many people point to as being able to drive it further - is down 16% to $2.8 billion from $3.4 billion last year.

Additionally, despite touting FSD "take rate" increasing, it appears to have added only $78 million in revenue this quarter, relative to it's total quarter revenue of $28 billion - that is, actual FSD revenue is still minimal.

And, robotaxis - the ever shifting pie in the sky Musk has been touting as something along the lines of an infinite moneyhack - appears to only have about 40 robotaxis operating this entire quarter. More specifically, Tesla's "Cumulative Unsupervised Robotaxi Miles Chart" on its investor presentation slides implicates about 1.5 million unsupervised robotaxi miles were driven this quarter, for the months of June, July, and August.

The thing is the slides also indicate that robotaxi operating hours in Austin are from 6am to midnight. If you extrapolate that; that's theoretically 18 hours of operating time per robotaxi, one can estimate a low side of miles per hour would be 25 given it's the city; gives 18 hours x 25 mph = 450 miles driven per day per robotaxi x 90 days in the three month period = 40,500 miles per robotaxi driven in the 3 month period. 1,500,000 miles total in the 3 month period / 40,500 miles per robotaxi in that period = the equivalent of 37 robotaxis driving during the entire 3 month period.

Notably, this is a year and a half after Musk claimed robotaxis would be in "half the u.s. population by the end of 2025"

Compare this to Waymo which actually has 4,000 robotaxis on the road and is scaling up. And more and more competitors are coming online or scaling up everyday - including competitors that are using Nvidia tech and hardware - Alpamayo - specifically oriented towards outfitting cars and making them self-driving.

Now, while people are sure to yell "but Tesla can make it's robotaxis at half-the cost of others" consider that Waymo's are getting cheaper and cheaper; and even if Waymos stopped getting cheaper, even where Waymo's currently at just that competition means robotaxi margins won't be that good - which makes sense because, in general, that type of product would be a commodity anyway - that is, everybody wants and will push for cheaper and cheaper cost of transportation as it gets more and more commoditized.

Real world: Tesla now has actual earnings for the past 12 months of $0.91 per share and it's robotaxi business it's turning out is not scaling as fast as others, and there may be no actual moat for that business. I guess there's always optimus (which other robots are ahead of anyway), or a SpaceX buyout at a premium to save the shareprice.

I was reviewing Tesla's earnings today. They had a 3Q2026 non-GAAP EPS of $0.48 and a GAAP EPS of $0.22.

I reviewed CFRA's Tesla Report and they have been using non-GAAP EPS as the basis for the earnings of the stock.

In my opinion, this is a really slimy and inaccurate thing for CFRA to do, as it overinflates the earnings of the company.

Are there other large cap stocks that have such a huge discrepancy between non-GAAP and GAAP EPS, or is Tesla an outlier?

Musk said the boards at Tesla and SpaceX have formed special committees to discuss a potential merger “at the request of shareholders,” noting that these groups “consist of independent directors.”

Because Musk is a “conflicted party,” he said he can’t be in the discussions.

“I do think there’s a lot of merit to combining the companies as we are pretty much in the superintelligence singularity, and there’s a lot to be gained from cooperating,” Musk said, referring to the development of software, chips and more.

“Do I think it would be a good idea? Yes,” Musk said.

“But at the end of the day, the shareholders have to be supportive of this.”
Musk said that on the Tesla side, “we will need a 50% vote of all shares -- not just those who vote -- but of all shareholders, and that’s quite a high hurdle.”

Venture capitalist Ira Ehrenpreis is on the boards of both companies.

Choi Ji-young, the International Monetary Fund (IMF) executive director representing South Korea, said at the IMF-World Bank annual meetings in Bangkok, Thailand, that South Korea is the only advanced economy expanding its fiscal space. She noted that the semiconductor and AI boom is simultaneously improving South Korea's growth outlook and fiscal capacity, and that positive mentions of South Korea within the IMF board have become unusually frequent. Regarding next year's budget proposal, she assessed it as neutral with a slightly contractionary stance. While warning that a downturn in the AI boom could deliver a significant shock to the stock market and current account balance, she relayed the IMF's internal view that AI investment will persist for a considerable period and advised against overreacting to short-term volatility.

https://finance.biggo.com/news/efa574c4-f7c3-4837-9e3e-4b6e782b30f6

SpaceX reported 161% revenue growth for the third quarter, driven by the company’s artificial intelligence business and Starlink Subscriber growth.

Here’s how the company did compared to LSEG consensus estimates:

• Revenue: $14.58 billion vs. $12.72 billion expected
• Earnings per share: 35 cents

While SpaceX is best known for its reusable rockets, most of its revenue and profit in recent quarters came from the company’s connectivity segment, which consists of its Starlink satellite internet service.

Buzz is building about Starlink’s plans to build a U.S. mobile network after SpaceX, earlier this month, announced that it’s buying 800 MHz of low-band spectrum, and after the Federal Communications Commission approved a plan for the company to build out a 15,000-satellite constellation.

During the third quarter, SpaceX also closed its $60 billion purchase of AI coding startup Cursor.

As of this writing, the shares are up by 2%

Hi guys , i know the tittle sound silly
But i really need you guys advice

So its been 2 years+ since i started investing and trading
I never bought leverage until last month i bought leverage on my trading account , and since its trading account ofc im doing short term / day swing trading , got profit
And 3 weeks ago i bought again and then you guys know all tech got blast , and i didnt cut loss
Skip skip
Now im still holding leverage etf stock that i keep averaging down

My average not bad , lets say a stock with 300 ATH i bought @230 and after average down now my avg 210 while the price 170 atm , i believe this stock will go back because this stock fundamental good

My question are :
1. Is it wrong to keep holding leverage ETF stock just because i believe it will bounce back ?
2. I got volatility decay the longer its going up and down , do you think its really bad ? If i holding a real stock w/o leverage my avg already around 19x
Please share your advice
(Note : this leverage stock now 30% of my portfolio since i keep averaging down , but the rest 70% is an etf like VOO

My situation : i havent lose money , i only lost 3/4 my gains this 2026, so even if i cut loss my capital still save

Its really a lesson for me to never buy leverage anymore in the future

For anyone from the US or any country that is not Australia you need to hear about a story about NextDC, it is next level.

They are a top 100 ASX company who builds data centres across Australia for AI workloads etc.

Recently, some smart civil disobedience occured when residents in Melbourne's inner west blocked Jemena (electricity/energy services company) crews from installing 15-22m power poles through their streets by leaving their cars and bins out. Jemena suspended the works, and NextDC's M3 data centre couldn't get the extra power it needs.

NextDC has cut FY27 EBITDA guidance from A$385-410m to A$245-265m, and shares fell \~40% on Wednesday.

Put simply on Monday NextDC was worth $7B now it’s worth $4B.

Locals say they were never properly consulted. Council hasn't consented. Works won't restart before Feb 2027. Billion-dollar AI data centre vs. a street full of parked cars. Serious cracks show the moment things don't go to plan for these AI companies.

With earnings season underway, I think this could be a good opportunity to get into quality stocks before the market starts moving higher again. Recent volatility has made some investors hesitant, but if companies deliver solid results and offer encouraging guidance, we could see sentiment improve and stocks begin to recover.

I'm looking for companies with strong fundamentals, consistent earnings growth, and valuations that still make sense. Obviously, there's no guarantee the market has bottomed, but I'd rather start looking for opportunities now than wait until a recovery is already well underway.

Do you think the current market offers a good entry point before a potential rebound?

I work in marketing, and for most advertisers, Google, Meta and TikTok are where the marketing dollars flow. Beyond that lies the scrapheap of experimental channels: the Reddits, the Snaps and whatever else got a test budget this quarter. At the very bottom of the pile sits Pinterest.

It's been around for over 15 years, and surprisingly enough it makes over $4.5B in revenue with a user base that's slowly but surely growing. Unlike Google and Meta, which have been spending heavily on AI infrastructure, Reddit, which is licensing its content to AI companies, and Snap, which always seems to be in the news for a misguided hardware launches (2K AR glasses anyone) , Pinterest has stayed relatively staid.

I valued it at ~$20/share; and is currently at ~$21.95 today.

• Revenue: $4.6B trailing, growing ~16-18% a year; I assume it slows to ~5% and roughly doubles over 10 years.
• EBIT margin: ~16% after capitalizing R&D (7.6% reported); I assume it grows to ~20% over 10 years. Meta is at 41%, Reddit 20%.
• Net income: $417M in 2025 and ~$250M over the last 12 months, though it dipped to a loss in the first half of 2026 on restructuring and higher stock comp.
• Users: 619M monthly users, but US/Canada users generate ~$31 a year each vs. $0.83 for Rest of World.

At ~$20, Pinterest looks fairly priced. If Pinterest can figure out how to make real money from users outside the US and squeeze more profit out of each ad dollar, there's upside here. But if people start asking AI platforms to make purchasing decisions instead of scrolling Pinterest, there isn't.

Let me know if anyone else follows this company or has a different POV from mine.

These daily discussions run from Monday to Friday including during our themed posts.

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• StreetInsider news
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• Reuters aggregated - Global news

If you have a basic question, for example "what is EPS," then google "investopedia EPS" and click the investopedia article on it; do this for everything until you have a more in depth question or just want to share what you learned.

Please discuss your portfolios in the Rate My Portfolio sticky.

See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.

SPCX and NFLX. Tale of Two Outlooks..All-in with Space sector?

Time to be in Space!! Wonder how are LEAPS doing?

SpaceX blew past expectations with $14.58 billion in revenue (vs. $12.72B expected) and $0.35 EPS (vs. $0.14 expected), driven by massive AI data center rentals and Starlink expansions. AI infrastructure demand and rapid Starlink scaling shows a hyper-growth trajectory....despite any potential cap-ex constraints.

Netflix just met revenue at $12.87 billion and beat EPS at $0.87 (vs. $0.82 expected), but tumbled 6% due to weak Q4 guidance.. Slower ad-product rollouts and subscriber normalization signal material growth hurdles..

Musk estimates $SPCX annual recurring revenue between 500Bn to $1 trillion by the end of 2027...

EDIT: My apologies, these are Consumer Staples stocks, not consumer discretionary. I've corrected the text below to reflect that....

The news (and Reddit) is filled with talk of AI and Data Centers and Technology in general, and that draws attention away from stocks in other sectors that are performing well. Over the past 30 days, Consumer Staples stocks have been on a real tear.

The following table list some of the best performers in the sector. To generate it, I looked for companies with the following characteristics:

• trades on a major US exchange
• a stock price over $10
• positive price change over the past year, year-to-date, month, and 5 days
• minimum price appreciation of 10% or more over the past 30 days

I personally own shares of COST and TBBB. I'm also considering adding some CASY shares.

Anyone else own or have thoughts on any of these?

Case study: Facebook IPO in 2012

Over excitement: Share price was raised from $33 to $38 just days before the launch, valuing the company at over $104 billion.

Cynicism: Valuation was too high. The company had no real product, just selling user data. Expanding user base = High cost of IT infrastructure. Similar companies MySpace and Friendster were dead.

The stock started trading flat then crashed 50% in a few months. Class action lawsuits. Everyone called it a botched IPO later.

https://time.com/archive/7103705/facebook-blame-game-whos-at-fault-for-ipo-debacle/

Today, FB (Meta) is 1.78T company, about 18x its IPO valuation 14 years ago.

Almost everyone was wrong about FB back then.

History might not repeat exactly but rhymes.

it is the leader of the industry on the second behind need more than 10 years, I know they are now some compititors trying hard to take a big part of the pie but still, I know that producers try to diversify from CATL, I know that geopilitic will try to make some boundries again China dominance. but still having a hard time to understand this down trend, I am confusing between buying the dip or close the screen and do push-ups. selling is not an option, I will HODL this one at least till GTA6 comes out

We haven't heard from ASTS leadership since August 10. At that time they said they believed there would be 1 launch every 1 to 2 months. They said they should be able to get critical 45 satellites into orbit by end of Q1 2027, pushing the timeline back from end of 2026 by 3 months. That was coming off the heals of an August 5 launch. Here we are 2 and a half months later and there's been nothing but crickets.

In that period of time, SpaceX has launched 26 next gen satellites in one launch. It averaged 265 starlink satellites to orbit per month for the first 6 months on 2026.

On September 14 there was a class action lawsuit filed against ASTS alleging management misled investors.

In order for ASTS to keep their Q1 target they would reasonably need 4 more launches by the end of the year. Given that there has been no launches since August 5, no announcements or communication with investors since August 10, we can probably assume that isnt going to happen.

Where I think we're at: Its reasonable to believe that the technology works, the MNO relationships are not falling apart, that the revenue case is developing. But we can't trust management's guidelines or timeframes. The stock has lost 39% of its value since the August 10 earnings call, but is still trading at 140x sales revenue. To me it says we believe long term this will work out, but not at all in the time that management says.

Am I giving management too much credit, is ASTS fully cooked or do you think the stock is oversold? I'm down approx $30k on this, but other than timelines and competitor position, nothing has really changed.

With AI capacity still tight and CoreWeave already raising prices 25% in July, Goldman sees returns per megawatt as "biased to the upside" over next two years potentially growing faster than cost of financing its expansion.

Goldman’s note says $CRWV can still generate ~15% unlevered IRRs even assuming its GPUs are worth zero after five years with new long-term contracts starting ~$13M/MW versus ~$10M/MW blended today.

They also said the scary 15% unsecured bond yield also overstates the capital stack because Goldman puts CoreWeave’s blended cost of debt closer to 9% with most borrowing secured by GPUs and customer contracts while managed-inference and Omni can lift revenue per MW without requiring equivalent new infrastructure.

The catch is obviously efficiency because Goldman’s model implies a roughly 3-year payback versus closer to two years for $IREN and $NBIS.

GE Aerospace reported today, and the cash flow numbers caught my attention. Adjusted earnings per share rose 36% to $2.25, while quarterly free cash flow fell 14% to about $2 billion.

The picture looks different over a longer period. Free cash flow for the first nine months was roughly $6.7 billion, up 13% from last year. GE also raised its full-year cash flow forecast to $9.1 billion to $9.4 billion, from $8.9 billion to $9.2 billion. All available in GE's earnings release.

Using the nine-month result, the new forecast implies roughly $2.4 billion to $2.7 billion of free cash flow in the fourth quarter. That gives us a specific number to check when the next results come out.

My read is that the quarterly decline deserves attention, but the year-to-date growth makes it difficult to call this a deteriorating cash-generating business based on one quarter. The question is how much confidence to put in that fourth-quarter forecast.

For people following GE closely, does that cash flow target look achievable? What are you watching that could put it at risk?