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On August 14th, it was reported that AI unicorn Anthropic is preparing for a potentially record-breaking IPO, holding initial meetings with potential investors. According to sources, the talks are currently focused on macro-level issues and have not yet touched on specific financial data or valuation. Anthropics CFO, Krishna Rao, is leading the meetings, which primarily revolve around the Claude AI model series, the Claude Code programming assistant, the companys market positioning, management team, and product iteration. The company secretly filed for listing with the U.S. Securities and Exchange Commission in June but has not yet announced a formal IPO timeline. Anthropic completed a financing round at the end of May this year, reaching a valuation of $965 billion, higher than OpenAIs valuation of $852 billion at the same time; the company disclosed that its annualized revenue run rate has exceeded $47 billion. Some investors expect its IPO valuation to reach $2 trillion, but this is not the companys official target. In the competitive arena, OpenAI has also secretly filed for listing but has not yet started pre-IPO investor meetings.According to Saba News Agency, controlled by the Houthi rebels in Yemen: Saudi Arabia shelled villages in Saada province in northern Yemen.According to CNBC: Sources indicate that Anthropic CFO Kerry is leading early IPO communications with investors, but valuation has not yet been discussed.The Federal Reserve reported that, on a seasonally adjusted basis, outstanding U.S. commercial paper increased by $1.6 billion in the week ending August 12; on a non-seasonally adjusted basis, outstanding U.S. commercial paper decreased by $1.1 billion in the week ending August 12, while outstanding U.S. foreign financial commercial paper increased by $10.9 billion in the week ending August 12.OpenAI: GPT-5.6 Sol UltraFast Mode has been made available for limited preview to a select group of customers.

Oil Prices Remain Near Weekly Lows as U.S. CPI Inflation Looms Large

Haiden Holmes

Oct 13, 2022 11:57

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Oil prices held near their weekly lows on Thursday, as markets dug in ahead of important U.S. inflation data due later in the day and a worsening demand forecast dampened sentiment.


Brent oil futures traded in London rose 0.1% to $92.65 per barrel by 21:21 ET, while U.S. West Texas Intermediate futures rose 0.1% to $87.33 per barrel (01:21 GMT). This week, both contracts are down approximately 6% due to hawkish Federal Reserve signals and profit-taking after last week's dramatic increase.


As a result of an increase in COVID infections in China, investors feared additional lockdowns in the world's largest petroleum importer, and prices fell. The Chinese trade and inflation numbers expected to be released on Friday should provide additional information on this front.


However, Thursday's CPI inflation data from the United States will dominate this week. It is predicted that the data would reflect that U.S. inflation remained stubbornly high in September, providing the Fed with further reason to continue raising interest rates.


The minutes from the Federal Reserve's September meeting revealed that the central bank has no plans to adjust its hawkish stance.


Concerns that rising inflation and interest rates will reduce economic activity and weigh on petroleum consumption have precipitated a precipitous decrease in oil prices this year, which is anticipated to continue in the near future.


The Organization of Petroleum Exporting Countries cut its oil demand forecasts for 2022 and 2023 on Wednesday, citing weak economic growth and high inflation as contributing factors. In an effort to increase petroleum prices, the cartel curtailed daily supply by 2 million barrels per day recently.


While the output cut generated an increase in oil prices, concerns about sluggish demand may swiftly wipe away these gains.


The American Petroleum Institute estimated a 7 million barrel increase in crude oil inventories in the United States last week; the government is expected to publish a 1.7 million barrel increase today.


Oil prices may rise if the United States releases extra supplies from its Strategic Petroleum Reserve, as the Biden administration vowed to do after the OPEC production cut.


However, oil prices may benefit from an increase in heating-related demand over the winter months. In addition, supply issues in Russia resulting from an escalation of the crisis in Ukraine may contribute to price increases.

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