James Altucher:

Anthropic Files To Go Public, Setting Up a Landmark Moment for the AI Boom

Anthropic is going public. The AI startup behind the Claude chatbot filed a registration statement with the Securities and Exchange Commission on Monday for an initial public offering, seeking to list its Class A common stock on the Nasdaq under the symbol "ANT."

The filing leaves the price range and share count blank. It says Anthropic and selling stockholders will both offer shares, and the company will not receive proceeds from the selling of stockholders' sales. Goldman Sachs and Morgan Stanley are the lead underwriters among 22 banks named.

Anthropic filed confidentially with the SEC in June. The company plans to start pitching the offering to investors as soon as the week beginning Nov. 9, and it expects to equal or exceed the amount SpaceX raised in its IPO.

SpaceX raised $85.7 billion when it listed on the Nasdaq a few months ago, a bigger offering than any IPO before it.

Anthropic reported revenue of $16.3 billion for the six months ended June 30, up from $1.2 billion a year earlier. It posted an operating loss of $693 million and a net loss of $80.7 billion. The company said most of the net loss came from a $72.4 billion change in the fair value of convertible notes and other instruments.

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Greg Guenthner:

In China, the AI Bubble Has Already Burst

While global tech stocks teeter, in China they have already crashed as lofty valuations collapse under worries about AI demand and curbs on Chinese exports.

The meltdown, tanking the mainland STAR50 index of AI and semiconductor leaders by 40% in less than four months and vaporizing some $480 billion in market value, is an ill omen for wobbly world markets and a dampener on China's efforts at encouraging its savers into stocks to fund the AI boom.

It has also slammed the brakes on a rally running two years, since economic stimulus promises sent shares soaring, and has stalled Beijing's push to break with a long boom-bust pattern and drive a "slow bull" market that delivers reliable performance. China's broad blue-chip index has dropped about 20% from highs made in June.

The reversal reflects a rally that ran to higher heights than markets in the West or elsewhere in Asia, and compares with a mere prick to U.S. AI stocks, which have led a 6% drawdown in the Nasdaq from a record high scaled three weeks ago.

There has been no obvious selling trigger in China, although traders said high prices, tax bills and the threat of the U.S. or other nations banning Chinese equipment in data centres all contributed.

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Chris Campbell:

'Privacy Horror': Researcher Uncovers Extent of Samsung Smart TV User Tracking

A researcher found that their Samsung smart TV was tracking them through several functionalities, including an "always on" microphone – and experts warn that similar tools could exist on other "everyday devices."

X user log4j claims to have reverse engineered his Samsung smart TV's firmware and discovered what they call a "privacy horror."

One file called 'security-policy.xml' featured functions including an always-on microphone, automatic content recognition, geo-positioning, network mapping, a targeted ads service, and user profile building, while Samsung TVs without a built-in microphone will look for one on connected devices such as a soundbar or Bluetooth speaker.

But a community note on the post points out that Samsung openly advertises some of these features. Its Pet Care and Family Care tools on Vision AI TVs listen for sounds like barking or crying and alert owners through the SmartThings app.

"The amount of monitoring that smart devices, from TVs to voice assistants to cars, do isn't secret as such, just not something promoted," James Bore, a cybersecurity and technology consultant, said. "If you read privacy policies and [End-User License Agreements], it's all in there in almost every case, but most people don't read those."

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