AI startup Anthropic expects to post positive adjusted operating income for a second straight quarter. The company’s gross margins are above 80%, though the figure excludes partner revenue shares and model-training costs. Quarterly revenue topped $11.5bn last month, and annualised revenue reached $65bn in July, about seven times a year earlier, according to CNBC. Anthropic confidentially filed for an IPO in June, is planning a Nasdaq listing, and is finalising a $15bn revolving credit facility while targeting an offering that could match or exceed SpaceX’s $86.3bn record.

SoftBank Group shares in Tokyo fell as much as 13% on Monday, marking their biggest one-day drop since July. Bloomberg reported that the company secured an $11.87bn loan to fund its OpenAI investment, exceeding an earlier $10bn target. SoftBank is set to invest close to $65bn in OpenAI by October and has raised the equivalent of about $37bn from bonds and loans this year. The broader AI trade weakened as the Philadelphia semiconductor index slid more than 5% on Monday.

Digital bank Chime said it will acquire Stride Bank for $590m in cash after partnering with the lender for seven years, and plans to rename it Chime Bank. The company said it expects more than $100m in net synergies from the deal and raised its revenue outlook to $705m for the current quarter, about 30% higher year on year, with full-year guidance of $2.76bn to $2.77bn. The transaction still requires approval from the Office of the Comptroller of the Currency and the Federal Reserve.

Samsung Electronics chairman Lee Jaeyong is set to buy more than 7.1 million common shares from his mother, Hong Rahee, in an off-market deal worth 1.94 trillion won (about $1.4 billion) on Oct. 12. After the transaction, Lee’s stake will rise from 1.47% to 1.58%, while Hong’s holding will fall from about 1.25% to 1.13%. The sale is intended to help Hong repay part of the tax bill linked to the inheritance of the late chairman Lee Kunhee’s estate.

Pinterest said Chief Financial Officer Julia Donnelly will leave on October 30 to join a private early-stage company. The stock fell as much as 3.8% in after-hours trading following the announcement. Donnelly has served as CFO for about three years, and her successor will inherit a $4 billion Amazon Web Services cloud-services commitment as revenue growth begins to slow. In the second quarter, revenue rose 18% to $1.18 billion and global monthly active users reached 640 million, while the company posted a GAAP net loss of $47 million.

PDD Holdings reported adjusted earnings of 19.33 yuan per American depositary receipt, above the 18.51 yuan estimate. Quarterly revenue rose 8% year on year to 112.4bn yuan, missing forecasts. Shares rose about 3.5% in premarket trading in New York. Temu is facing at least three separate regulatory processes in Europe, including a €200mn fine from the European Commission in May over unsafe baby toys and faulty chargers.

OpenAI’s chief financial officer told employees the company expects to go public in 2027, or sooner if growth remains strong. The company raised $122bn in March and investors value it at $852bn. Slides shown to staff said its revenue run rate is up 35% so far this quarter, enterprise run rate is up 50%, and its AI coding product has reached 20 million weekly users. Rival Anthropic’s run rate rose about sevenfold from a year earlier, highlighting rapid growth across the sector.

Australia has formally implemented a digital platform news bargaining law that levies a 2.5% charge on platforms earning more than A$250mn in annual advertising revenue, whether or not they carry news. Meta, Google, TikTok and LinkedIn fall within the scope, with LinkedIn added in early August. The rate was lifted from an initial 2.25%, while deals with large publishers can be credited at 150% and agreements with small and medium-sized outlets at 200%, subject to a cap of 25% of total liability per deal.

Xiaomi Group reported a fresh earnings decline, with adjusted net profit down about 43% year on year to 6.22bn yuan and overall gross margin slipping to 19.8%. Handset revenue fell 7.5% to 42.1bn yuan as the cost of key components such as memory rose sharply and competition intensified. Electric-vehicle revenue increased 15.9% to 23.9bn yuan, but it was not enough to offset weaker phone performance.