Anthropic to Unveil First Earnings Ahead of IPO — A Litmus Test for AI Investor Sentiment?
US AI startup Anthropic is set to release its first quarterly earnings ahead of its initial public offering (IPO). With global AI-related stocks rattled by recent controversy over OpenAI's revenue projections, these results are expected to serve as a critical test for gauging the direction of AI investor sentiment.
On the 14th (local time), Anthropic will disclose its third-quarter financial figures to institutional investors. The company expects annualized revenue to surpass $100 billion (approximately 134 trillion won) by year-end and is reportedly pursuing a valuation of roughly $2 trillion, targeting a listing as early as next month.
This earnings release could transcend a simple startup report card, becoming a moment to validate investor confidence in the broader AI industry. AI and semiconductor stocks plunged earlier following reports that OpenAI's annualized revenue would fall short of prior projections. If Anthropic demonstrates growth in line with market expectations, observers suggest AI investor sentiment could recover.
Wall Street Banks' Q3 Results: A Mixed Bag
The same day also brought third-quarter earnings from major US banks, with decidedly mixed results.
Goldman Sachs posted revenue of $18.68 billion (approximately 25 trillion won) and earnings per share of $17.01 (approximately 23,000 won), beating market expectations. Equities trading revenue surged 72% year-over-year to $6.44 billion (approximately 8.6 trillion won), driving the outperformance. Citigroup also exceeded market forecasts on both revenue and earnings per share.
JPMorgan, by contrast, reported earnings per share of $5.57 (approximately 7,500 won) and revenue of $50.91 billion (approximately 68.2 trillion won), with both metrics falling short of market expectations. This marks the first time the bank has missed quarterly estimates since Q4 2023. Wells Fargo saw net income rise 6% year-over-year, but revenue came in below expectations.
Stock price reactions diverged somewhat from the earnings results. Goldman Sachs rose more than 4% in early trading before closing down 0.23%, while Citigroup — despite beating estimates — plunged 5.6%. Investors focused on the quarter-over-quarter decline in trading revenue and pressure on credit card segment profitability. JPMorgan fell 0.86%, and Wells Fargo dropped more than 3%.
Market observers note that the high interest rate environment and financial market volatility are emerging as key variables separating bank profitability. According to FactSet, analysts expect S&P 500 companies' earnings to grow approximately 30% year-over-year this quarter, indicating that market expectations themselves have risen considerably.
Apple Enters Smart Home Market with AI Hub "HomeView"
Apple has officially unveiled its AI-powered smart home hub "HomeView," entering full-fledged competition with Amazon and Google.
HomeView features a 7-inch display and the A18 chip, with a US retail price of $299 (approximately 400,000 won). It will launch first in eight countries including the US, UK, and Canada starting on the 13th of next month. South Korea and Japan were excluded from the initial launch.
The product integrates a smart speaker, display, AI assistant, and home security capabilities into a single device. Facial recognition technology can distinguish up to six family members, displaying personalized schedules and messages for each. The Siri AI powered by Apple Intelligence enables question-answering and task execution using personal information.
As Apple extends its iPhone-centric ecosystem into the home, a three-way battle is expected to intensify with Amazon — which has established market leadership with its Echo series — and Google, which owns Nest.
SpaceX Eyes Disrupting US Telecom's Three-Carrier Structure
Analysis suggests that SpaceX, led by Elon Musk, is accelerating its entry into the wireless communications market, potentially shaking up the oligopolistic structure of the US telecom industry.
SpaceX recently acquired low-band spectrum and is pushing to expand its "Direct to Device" service, which connects satellites directly to smartphones. The US Federal Communications Commission (FCC) has approved the deployment of 15,000 satellites for this service.
Pivotal Research projects that Starlink could capture up to 13% of the US wireless communications market over the next decade. This would position SpaceX to emerge as the fourth major mobile carrier in the US, following Verizon, AT&T, and T-Mobile.
However, given the massive infrastructure investment required to build a nationwide network, the possibility of partnerships with existing carriers or cable operators has also been raised. Some analysts suggest that spectrum acquisition may be a strategic move to strengthen negotiating leverage with incumbent carriers.
Paul Tudor Jones: "2027 Will Be a Very Difficult Year for Stocks"
Legendary American investor Paul Tudor Jones has issued a strongly bearish outlook for the stock market next year.
Appearing on CNBC on the 13th, he stated that "2027 is going to be a very difficult year for the stock market" and said he would maintain short positions throughout the year. He assessed that current market conditions resemble the period just before the dot-com bubble collapse in the early 2000s.
He cited deepening debt dependence in AI infrastructure investment and rising government debt worldwide as his rationale. He argued that the market has little value, pointing out that the dot-com bubble era also saw a wave of large-scale stock issuance and IPOs.
New York Stocks Close Mixed, Slightly Lower; AI Trades Diverge by Stock
New York stocks closed slightly lower on the day. The Dow Jones Industrial Average fell 0.35% to 51,670.10, the S&P 500 slipped 0.02% to 7,805.45, and the Nasdaq Composite declined 0.15% to 27,204.38. Late-session remarks from New York Federal Reserve President John Williams — who said "there is a possibility of one more rate hike this year, but additional hikes in 2027 will not be necessary" — helped pare losses.
AI-related stocks showed differentiated performance. Meta rose 2.63%, buoyed by the unveiling of its next-generation model "Muse Wonder" and analyst target price upgrades. Microsoft hit a record closing high for the first time since October of last year, driven by large-scale deployment of its proprietary chips and a recovery in its software segment. Nvidia gained 0.97%.
Storage-related stocks, meanwhile, remained weak. SK Hynix fell 3.19% in the US market. However, losses narrowed into the close, and with SK Hynix's US shares trading at a 46.5% premium to its Korean shares, analysts suggest this could provide some support for Korean market and global tech investor sentiment.
The following day, the 15th, brings the release of US September Consumer Price Index (CPI) data. Major investment banks expect headline inflation to rise due to higher oil prices, while projecting core inflation to remain moderate. With Anthropic's earnings release coinciding with the inflation data, the direction of AI investor sentiment is expected to draw even greater attention.