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Anthropic wants to create new billionaires through its IPO, but American voters are growing tired of Big Tech's wealth explosion
Anthropic is preparing for a significant IPO amid growing public resistance to AI-related infrastructure projects. Investors are discussing a valuation between $1 trillion and $1.5 trillion for the Nasdaq listing. Communities express concerns over environmental impacts and rising electricity costs linked to data centres. Public sentiment is shifting against technology companies, raising questions about economic benefits versus local costs.
Bad AI cholesterol vs good AI cholesterol
The Magnificent 7 of Big Tech has recently experienced a staggering drop, losing over $1 trillion in collective market value. This decline is fueled by apprehensions regarding spending on artificial intelligence and rampant inflation. As challenges loom for AI investments—particularly in legal and borrowing contexts—investors must now navigate a landscape where distinguishing between thriving and failing AI projects is crucial.
Purdue Basketball paid the Beacons $90,000 for a buy game, only to lose to them in double overtime and record the worst start in 50 years
Purdue Basketball kicked off the season with a rocky start, succumbing to defeat in their first two matches against Gonzaga (72-78) and the Beacons (80-83). This marks the team's worst start in five decades. The Beacons celebrated their first Big Ten victory since 2004 with a dramatic last-second shot, while Rakim Chaney and Daniel Jacobsen posted career-defining performances.
Tech billionaires in Democrats’ crosshairs: Who could face congressional probes? Here’s the hit list
Elon Musk, Mark Zuckerberg, Jeff Bezos and other tech leaders could face congressional investigations as Democrats prepare to take control of Congress in 2027. Their scrutiny could focus on ties to Donald Trump, political influence, AI development, data center expansion and the industry's impact on American jobs and communities.
Piyush Goyal to visit Egypt with big business delegation; India eyes trade, investment partnerships
Commerce Minister Piyush Goyal will visit Egypt next week with a large business delegation to explore investment and collaboration in sectors including startups, fintech, pharmaceuticals and automobile components. The visit comes as India seeks to deepen its strategic engagement with West Asia and position Egypt as a gateway to African, Arab and European markets.
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Why Big Tech companies Microsoft, Google, Meta and others are opting for voluntary buyouts
In response to fluctuating market demands, Meta has rolled out voluntary exit packages in France aimed at workforce restructuring. This initiative is part of a broader trend as tech giants like Google and Microsoft implement similar measures globally to optimize costs. These packages offer employees the choice to depart with financial incentives and transition support, showcasing a more favorable approach compared to traditional layoffs amidst economic uncertainty.
Are Amazon and Google polishing Anthropic IPO numbers? Michael Burry raises big question amid global AI crash
Anthropic’s reported revenue surged to nearly $17 billion in the third quarter as it prepares for a potential blockbuster IPO. However, Michael Burry has questioned the sharp decline in sales and marketing expenses, raising concerns about whether major partners such as Amazon, Alphabet and Microsoft are helping polish its financials ahead of the listing.
Big tech, green groups in talks over data center guardrails
The "Responsible Data Center Collaborative" counts Google, Meta, Microsoft, Oracle, Amazon, Nvidia and Anthropic among its members, alongside environmental stalwarts the Natural Resources Defense Council (NRDC), World Wildlife Fund (WWF) and Sierra Club.
NCDEX partners with BigMint to enhance price transparency in steel scrap market
NCDEX has signed a strategic collaboration with BigMint to create a benchmark for steel scrap pricing. This partnership aims to improve price transparency and reliability for the steel industry in India. BigMint will provide daily spot price assessments, which will be used for settlement of new steel scrap derivatives contracts. The contract is expected to help participants manage price risks more effectively.
Ramayana movie review: Big visuals, impressive performances and an epic saga
Ramayana movie review: The film brings Valmiki’s epic to the big screen with an ambitious visual spectacle, backed by impressive VFX and a strong ensemble cast. While Ranbir Kapoor and Sai Pallavi bring their own interpretations to Ram and Sita, Yash stands out as Ravana. Despite some issues with writing and pacing, Nitesh Tiwari’s film delivers several memorable moments. Scroll down and read the full review below:
Lamar Jackson lost his father and grandmother on the same day at the age of 8; years later, his first big purchase was a home for his mother
Lamar Jackson is an American professional football quarterback who plays for Baltimore Ravens in the National Football League (NFL). He grew up in a family where his mother, Felicia Jones, played a big role. The Baltimore Ravens selected him with the 32nd overall pick in the first round of the 2018 NFL Draft. He then went on to become the NFL's biggest stars.
World's tallest horse ever recorded, Sampson stood 7 feet 2.5 inches tall; 175 years later, his record still stands. What made him special?
Born in England in 1846, Sampson is celebrated as the tallest horse ever, reaching a remarkable height of 7 feet 2.5 inches at the shoulder. His record has stood for over 175 years, while Hugo, the tallest living horse today, measures 6 feet 6.3 inches. Once essential for farming tasks, Shire horses now face decline, prompting efforts for their conservation and appreciation in modern times.
Big-budget Ramayana set for a slow start at theatres
Advance ticket sales for The Ramayana: Part 1 have not met the expectations of trade analysts and distributors. Data shows that ticket sales are underwhelming despite the film's grand scale and marquee cast. Concerns have been raised about the film's music not resonating with audiences and the quality of its VFX. Experts have highlighted inflated advance booking figures, suggesting lower actual sales than reported.
Premji Invest goes big on strategic output & tech
Premji Invest and Singularity AMC are likely to lead a $30-40 million round in Sanlayan at a valuation of about $200 million, according to the people. Separately, Premji Invest is in advanced talks to lead Hical’s first institutional funding round of $30-40 million, alongside TVS Capital.
US midterm elections 2026: First polls close in Indiana, Kentucky; Trump calls it "big deal"
The first polling stations in Indiana and Kentucky closed at 6 pm local time on Tuesday, marking the start of vote counting in the 2026 US midterm elections. Early findings from CNN's Voter Poll showed widespread dissatisfaction with Congress, the Supreme Court and both major political parties.
Apple drops with most of Wall Street, but gains for other Big Tech stocks cushion the blow
The stock market has been shaky recently as technology and artificial-intelligence stocks have swung on worries their prices shot too high in the frenzy around AI. Several of the most influential AI-related stocks held firmer Tuesday, which supported the market, after flipping from gains in the morning to losses in the afternoon a day earlier.
Global markets were already fragile. Big AI bets could break them
Investors flocked to bonds. Yields, which move inversely to price, fell from multidecade highs, with the benchmark 10-year Treasury, which guides borrowing costs globally, falling almost 20 basis points on October 22, its biggest daily fall since early 2023.
Big tech share buybacks plunge 83% as AI spending hits cash flows
Major US technology companies sharply reduced dividends and share buybacks as record AI infrastructure spending pushed their combined free cash flow into deficit. The shift raises concerns about shareholder returns and places greater pressure on Big Tech to deliver profit growth from its AI investments.
Trump's oil portfolio up 43% amid Big Oil windfall, pain at the pump
Major oil companies, including ExxonMobil, Chevron, and Shell, reported higher earnings in the third quarter. This comes as the conflict in Iran leads to increased fuel prices for American consumers. Trump's investments in oil and gas stocks have significantly appreciated during this time. More than 94% of his oil stock purchases occurred after the conflict began. Rising fuel prices serve as a crucial issue ahead of the upcoming midterm elections.
Besides the bubble, a big AI risk could be growing in the shadows
Investors are worried about potential financial risks linked to Big Tech's investments in AI infrastructure. The technology sector recently experienced a significant sell-off, indicating growing nervousness among shareholders. S&P Global predicts considerable expenses on data centres for major companies like Amazon and Microsoft through 2030.
Big Tech returns smallest share of cash to shareholders in 15 years, given AI spending
The retreat threatens a long-standing source of support for technology share prices. With companies buying back fewer shares, investors are increasingly dependent on heavy AI investments delivering enough profit growth to justify their valuations.
US SEC's top cop says agency is monitoring AI corporate disclosures
Big Tech stocks sold off this week as companies disclosed they are burning through cash to fuel their AI expansion at a time when interest rates are rising, raising questions about the sustainability of AI spending.
Stop giving solutions for problems: Former job recruiter shares 5 interview tips to get hired at big tech companies
A former job interviewer who says he has conducted 100 interviews has shared five tips for candidates struggling to clear technical rounds. He advises job seekers to stop rushing into coding, explain their approach, start with a brute-force solution and practise around 50 carefully selected questions. He also explains why communication, checking edge cases and applying for jobs while preparing can make a difference in landing a tech job.
Nasdaq futures sink as Amazon, Intel intensify AI spending fears
Shares of Amazon.com were down 6.3% in premarket trading after the company reported a sharp cash outflow in the third quarter and signaled another increase in capital expenditure next year, on top of already elevated outlays.
Japan, Bangladesh widen BIG-B ambitions, bring India into focus
Bangladesh Prime Minister Tarique Rahman's meeting with Japanese Prime Minister Sanae Takaichi focused on the BIG-B initiative. The initiative aims to enhance economic cooperation and connectivity in the Bay of Bengal region. Japan is particularly interested in developing the Matarbari deep-sea port with Bangladesh's support. Both countries plan to expand supply chain networks linking India, Nepal, and Bhutan.
Big Tech earnings: Microsoft, Google see cloud revenues surge
Microsoft's total revenues hit $92.3 billion against expectations of $90.6 billion, with profits of more than $36.6 billion versus the $35.1 billion analysts had forecast, according to FactSet.
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