Anthropic files for IPO to eclipse SpaceX record, iPhone Duo resale premiums shrink in China, Google, Amazon, Meta Platforms - Big Tech Report

Anthropic filed paperwork on Monday for a Wall Street listing that could become the largest IPO on record, surpassing SpaceX's $86bn raise in June. The San Francisco AI lab plans to trade on the Nasdaq under the ticker "ANT," with a debut expected before Thanksgiving in late November, though the filing did not disclose the number of shares on offer or a proposed price range. Current and prospective investors have been valuing the company at around $1.5 trillion, down from roughly $2 trillion a week earlier after Anthropic shared financial details at an investor event, Reuters has reported — still well above the $965bn valuation it fetched in a May funding round.

The prospectus shows revenue grew 1,368% in the quarter ended 30 June from a year earlier, reaching about $16.3bn for the first half of 2026, while net loss widened sharply to $80.7bn over the same period, driven largely by a rise in the fair value of convertible bonds. More than half of Fortune 500 companies and over 30% of Global 2000 firms are now customers generating at least $100,000 each in annual revenue. The filing also details risks from Anthropic's own models, including "self-preserving behaviours" and conduct "resembling blackmail," and flags reliance on a small number of cloud and chip suppliers — Amazon, Google, Microsoft and Broadcom — as a source of potential vulnerability.

Scalpers in Shenzhen's Huaqiangbei electronics market have cut resale premiums on Apple's newly launched foldable iPhone Duo just days after it went on sale, as social media chatter about screen cracking and software glitches cooled demand. A vendor surnamed Shen told SCMP he reduced the markup on a black 1TB model, one of the most popular configurations, by 2,800 yuan (about $420), bringing the asking price to 24,300 yuan from more than 25,000 yuan when the device launched on Friday.

Shen said interest picked up slightly once the price came down. The iPhone Duo is Apple's first foldable smartphone, and early complaints about cracking screens have been reported elsewhere, including by Bloomberg. Apple shares closed down 0.89% at $344.64.

Meta is raising up to $95bn to fund what it calls "Meta's continued investment in AI infrastructure and personal superintelligence." The plan has two parts: a $35bn underwritten public offering of stock, with Nvidia, AMD and Broadcom named as potential "cornerstone investors" that could together buy up to $5bn of the offering, and a separate $60bn "at-the-market" facility that lets Meta sell new shares to investors over time at prevailing prices.

The at-the-market portion will use the new non-voting Class C shares Meta unveiled last week, a structure that allows it to raise large sums without diluting Mark Zuckerberg's control. The move follows internal forecasts reported last week showing Meta will need "hundreds of billions of dollars" over several years to cover its AI spending. Meta shares were down 0.06% at $642.23 in regular trading.

Apple has introduced a new iPad mini featuring an OLED display, a thinner design and the company's A20 Pro chip, priced from $699. The device is water-resistant, according to Bloomberg.

The update marks a significant display upgrade for Apple's smallest tablet. Apple shares were down 0.89% at $344.64 in regular trading.

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Wall Street enters a pivotal week with a Federal Reserve rate decision Wednesday, the first estimate of third-quarter GDP and October core PCE inflation data Thursday, and earnings from Alphabet, Microsoft and Amazon all landing within 48 hours of each other. Fed funds futures imply only a 10% chance of another rate hike following September's increase, with Chairman Kevin Warsh holding a press conference at 2:30 p.m. ET Wednesday after the 2 p.m. decision. Economists expect annualized GDP growth of 3.0% and headline PCE inflation of 3.1%.

The earnings reports will be closely watched for evidence on AI spending, cloud demand and the payoff from heavy datacenter investment, after a volatile week in which the S&P 500 fell 0.5% and the Nasdaq declined 0.7%, with technology shares hit hard Thursday amid renewed concerns over AI capital expenditure. Alphabet and Microsoft report Wednesday, followed by Amazon on Thursday. In premarket-adjacent trading Monday, Microsoft rose 1.13% to USD 530.45, Amazon added 0.29% to USD 248.72, and Google shares slipped 0.30% to USD 319.25.