ONE BIG THING<\/h3>\nAnthropic books $65 billion in revenues<\/b><\/h2>\n
Anthropic\u2019s annual revenue run rate has hit $65 billion ahead of its IPO, which is expected later this year. That\u2019s seven times the size of its sales at the end of 2025, <\/span>Bloomberg reported<\/span>, when its revenues were only $9 billion. If Anthropic\u2019s IPO plans stay on track it will go public in the fall before either OpenAI or DeepSeek, which are also expected to offer stock on the public markets.<\/span><\/p>\n Opening arguments <\/span>begin today<\/span> in a California federal court over whether Meta designed Facebook and Instagram in a way that deliberately kept children addicted to its products in ways that damaged their mental health. The plaintiffs in the case are 29 state attorneys general. Meta (which denies the claims) says its potential damages could mount as high as $1.4 trillion\u2014equivalent to its entire market cap. The states say a more realistic figure for damages would be around $200 billion.\u00a0<\/span><\/p>\n \u201cMeta designed a dangerous product for young users, knew it to be dangerous, and then lied to children, families, and the community about how dangerous it was,\u201d California Attorney General Rob Bonta said. \u201cWe are ready to hold Meta accountable for its role in fueling the mental health crisis of American children.\u201d<\/span><\/p>\n The global \u2018freedom of the seas\u2019 is dying in the Strait of Hormuz\u2014and everyone, everywhere, could pay the tolls<\/span> – Jordan Blum<\/span><\/p>\n U.S. strategic reserves are getting so low the drawdown threatens to damage the 60 underground salt caverns storing American oil<\/span> – Sasha Rogelberg<\/span><\/p>\n California\u2019s billionaires just poured $40 million into blocking a wealth tax that threatens to force them to pay 5% of their net worth<\/span> – Marco Quiroz-Gutierrez<\/span><\/p>\n Alibaba\u2019s $2 billion gaming exit signals where Beijing wants its money<\/span> – Mia Osmonbekov<\/span><\/p>\n AWS\u2019s Asia chief is relocating to Japan as the country scrambles to modernize its legacy IT systems<\/span> – Angelica Ang<\/span><\/p>\n Ousted L3Harris CEO Chris Kubasik forfeits $45 million\u2014but he\u2019ll still walk away with $80 million in stock and options<\/span> – Amanda Gerut\u00a0<\/span><\/p>\n The \u2018Jamie premium\u2019 nears $1 trillion as J.P. Morgan flirts with historic market valuation<\/span> – Mia Osmonbekov<\/span><\/p>\n Trump pivoted from bombs to an economic war against Iran. But Tehran is now \u2018fully offensive\u2019 and doesn\u2019t think the real fighting has even started yet<\/span> – Jason Ma<\/span><\/p>\n A dropout living in a trailer, he got $1 million from Peter Thiel at 19\u2014now he\u2019s a billionaire who says the American Dream isn\u2019t dead<\/span> – Orianna Rosa Royle<\/span><\/p>\n Married 69 years, this philanthropic couple died 8 days apart\u2014after giving away more than $20 million from a hotel-and-property fortune<\/span> – Sydney Lake<\/span><\/p>\n The price of Brent crude oil was back above $90 per barrel this morning after President Trump yesterday threatened to start bombing Oman if he can\u2019t get a deal to reopen the Strait of Hormuz.\u00a0<\/span><\/p>\n The speaker of the Iranian parliament, Mohammad Bagher Ghalibaf, made a new set of demands for the U.S. to leave the region this morning. \u201cLet me state clearly: Until the commitments made by the United States in the memorandum of understanding, including the lifting of the blockade, the release of frozen assets, the lifting of oil sanctions, the end of threats and military operations on all fronts, and other conditions to which America agreed in the memorandum, are implemented, the strait will not be opened,\u201d he said, according to Al Jazeera.<\/span><\/p>\n Stocks sold off globally, following the U.S. market, which declined 0.52% yesterday. U.S. futures offered little hope as dawn broke in New York\u2014they were down 0.5% ahead of the opening bell.<\/span><\/p>\n \u201cWith both sides still far apart, investors grew pessimistic that the Strait of Hormuz would properly reopen any time soon.\u201d Henry Allen at Deutsche Bank advised clients this morning.<\/span><\/p>\n Some investors seem to be pricing in a semi-permanent victory for Iran. \u201cFrom an investor perspective, none of this changes the current situation\u2014Iran keeps the Strait of Hormuz effectively closed\u2014but markets\u2019 optimism bias is undermined by the near-term outlook,\u201d Paul Donovan at UBS told clients.<\/span><\/p>\n Wall Street is picking through Q2 earnings results to find out why they were so good. Stocks are up year-to-date and volatility is low\u2014which suggests traders have largely lost their fear of the oil shock or an AI bubble.<\/span><\/p>\n \u201cThe AI-capex boom is supercharging S&P 500 earnings growth,\u201d Lisa Shallett and her team at Morgan Stanley told clients on Monday. \u201cIn the second quarter, 1.5% real GDP growth produced nearly 30% year-over-year S&P 500 earnings growth\u2014an extraordinary 20-times multiple. These forces have been more powerful than the oil shock, higher rates, sticky inflation and monetary-policy uncertainty combined, and such resilience should have some staying power.\u201d<\/span><\/p>\n At Goldman Sachs, Ronnie Walker has a chart showing that the market isn\u2019t just being driven by tech stocks. Revenue gains were broad-based. Overall, revenues increased over 6% for all S&P 500 companies. The median company increased 4.2% and the non-tech companies by 3%:<\/span><\/p>\n <\/p>\n <\/span><\/p>\n And <\/span>gains in stocks are geographically widespread too<\/span>, including emerging markets and developed foreign markets like Europe, according to Ritholtz Wealth Management\u2019s Ben Carlson.<\/span><\/p>\n <\/p>\n <\/span><\/p>\n Unemployment is low, the economy is growing, and inflation remains above the Fed\u2019s target\u2014and that strongly implies that interest rate hikes will be coming soon. This chart from Henry Allen at Deutsche Bank plots the rate of inflation at the beginning of each historical period when the Fed began raising rates, against the number of basis points in that rate-raising cycle. Turns out there is a rough correlation between the two, which implies right now that the Fed will have to add a full percentage point to rates in order to squash inflation.<\/span><\/p>\n The chance of a recession happening in the next year, according to Chief of Investment Strategy & Research Jason Pride and Vice President of Investment Strategy Michael Reynolds at Glenmede. That suggests the current economic expansion is on a solid footing, they say.<\/span><\/p>\n AI hasn\u2019t gone rogue. It\u2019s worse than that<\/span> – FT<\/span><\/p>\n The 30-year Treasury yield just hit a 19-year high. Three things could drive it even higher<\/span> – CNBC<\/span><\/p>\n Kushner urges Netanyahu to test Hamas disarmament in Gaza<\/span> – Axios<\/span><\/p>\n Iran-Backed Houthis Threaten Coast Along Red Sea Chokepoint<\/span> – WSJ<\/span><\/p>\n Global Bond Slump Sends Long-Term Borrowing Costs to Highest in Decades<\/span> – Bloomberg<\/span><\/p>\n Sick of A.I. Slop? So Are Tech Giants.<\/span> – NYT<\/span><\/p>\n Before Ray Dalio built Bridgewater Associates into one of the world\u2019s largest hedge funds, he was advising clients on a more basic business problem: the cost of feeding chickens. That expertise helped McDonald\u2019s to solve an early obstacle to introducing Chicken McNuggets, now one of its most popular products, <\/span>Fortune\u2019s<\/span><\/i> Sarah Glodek reports<\/span>.\u00a0<\/span><\/p>\n Back in the early 1980s, amid a volatile chicken market, McDonald\u2019s needed help pricing its nuggets and limiting the risk of menu price fluctuations. Sudden changes in chicken feed costs made it difficult to price the nuggets long-term. To address this dilemma, McDonald\u2019s hired a young consultant to hedge the cost: Dalio.<\/span><\/p>\n He had previously worked at Shearson Hayden Stone advising cattle ranchers and crop producers on how to adapt to various risks in the agricultural commodities markets.<\/span><\/p>\n Dalio discovered that chicken feed is the most costly ingredient in the snack\u2019s production process. Soymeal and corn costs were turbulent. Dalio\u2019s suggestion was to combine these two ingredients into a synthetic future. \u201cThe cost of a chicken has nothing to do with the price of the chick,\u201d Dalio explained on Bloomberg\u2019s \u201cMasters in Business\u201d podcast in 2022. \u201cIt has to do with the price of the grain that you feed the chick.\u201d<\/span><\/p>\n \u00a0<\/p>\n<\/div>\n #Anthropics #annual #revenue #run #rate #reportedly #hits #billion<\/p>\n","protected":false},"excerpt":{"rendered":" \u27a1\ufe0f Did someone forward you thi… <\/p>\n","protected":false},"author":1,"featured_media":2284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[2184,428,1638,432,515,516,967,456,166,850,381,126,1461,449,65],"class_list":["post-2552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-annual","tag-anthropic","tag-anthropics","tag-billion","tag-economics","tag-fortune-500-digest-weekday","tag-hits","tag-iran","tag-markets","tag-meta","tag-news","tag-rate","tag-reportedly","tag-revenue","tag-run"],"yoast_head":"\nLAW & ORDER<\/h3>\n
Meta faces a potential $1.4 trillion in damages in kids\u2019 addiction trial that opens today<\/b><\/h2>\n
MORE FROM FORTUNE<\/h3>\n
THE MARKETS<\/h3>\n
Oil spikes and stocks sell off as traders price in Iran\u2019s control of the Strait of Hormuz<\/b><\/h2>\n
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In the S&P 500, the future is so bright we gotta wear shades<\/b>\u00a0<\/span><\/h2>\n
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<\/div>\nCHART OF THE DAY<\/h3>\n
The crystal ball of interest rate hikes<\/b><\/h2>\n
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<\/div>\nNUMBER OF THE DAY: Recession?<\/h3>\n
15%<\/b><\/h2>\n
THE FRONT PAGES TODAY<\/h3>\n
ONE MORE THING<\/h3>\n
Ray Dalio is responsible for the Chicken McNugget\u00a0<\/b><\/h2>\n