Anthropic has struck a $3.4 billion deal to generate gas-fired power for its data centers, according to the Financial Times. The AI lab is skipping the usual suppliers to get hold of hard-to-find equipment as power demand climbs, the FT said. The deal comes as Anthropic presses ahead with its IPO.

THINKING MACHINES NEARS $5B RAISE AT $40B VALUATION • Accel is leading the round, which could close as soon as this week; the $40B is pre-money • That would more than triple the AI lab's $10B+ valuation from last year's $2B seed round • Talks on a round at a $50B valuation were abandoned last year Founded by former OpenAI CTO Mira Murati, it has lost about a third of its founding team amid big pay offers from rivals like Meta and OpenAI, per Business Insider.

CROWDSTRIKE IS BUYING AI SECURITY STARTUPS FIDDLER AND DREADNODE FOR A COMBINED $495 MILLION CrowdStrike signed a definitive agreement to acquire Fiddler AI, which monitors and explains what AI agents do. It's also buying Dreadnode, which stress-tests AI systems, The Wall Street Journal reported. The Fiddler deal: • Paid mainly in cash, with a portion in stock subject to vesting • Expected to close in CrowdStrike's fiscal fourth quarter, which ends in January "Fiddler is the flight recorder for every agent," CEO George Kurtz said. Dreadnode raised a $14 million Series A in February 2025 from investors including Decibel, In-Q-Tel and Sands Capital, per The Wall Street Journal, CrowdStrike and SecurityWeek.

OPENAI HAS SIGNED DEALS WITH MAGNITE AND PUBMATIC TO FILL UNUSED AD SPACE ON CHATGPT Shares this morning: • Magnite +3.7% • PubMatic +4.0% Both firms make software that lets advertisers place ads on websites and other digital platforms. The deals were described by three people familiar with them, per The Information.

ANTHROPIC'S QUARTERLY REVENUE HIT $17 BILLION, UP 1,127% FROM A YEAR AGO, ITS AMENDED IPO FILING SHOWS That's up 47% from $11.56 billion in the second quarter. Anthropic swung to a $567 million operating loss from $974 million of operating income, citing $5.0 billion of costlier short-term compute and $2.0 billion of non-cash charges tied to its donation matching program. Adjusted operating income rose to $2.5 billion, while the adjusted margin slipped to 15% from 19%. Nine-month revenue reached $33.2 billion versus $2.5 billion a year earlier; the $104 billion net loss mostly reflects a $94.3 billion non-cash charge as its convertible notes rose in value. More than 1,900 customers spend $1 million or more a year, and compute and lease commitments total about $895.4 billion. The Nasdaq listing under ANT still has no price range, per the S-1/A.

OPENAI HAS REPORTEDLY CUT THE TARGET FOR ITS LATEST FUNDING ROUND BY $10 BILLION It's now looking to raise $20 billion at a $1.25 trillion valuation, down from a plan to raise $30 billion, per the Financial Times And the first close may come in even lower. OpenAI set a Friday deadline for investors to commit, but the first close is expected to raise less than $20 billion after some investors reduced their allocations, according to the FT. OpenAI did not immediately respond to a request for comment. The report comes as tech stocks sold off on worries about massive AI spending. The Nasdaq Composite fell 2.9% today and is now 7.8% below its all-time closing high from October 6.

OPAY'S SHARES FAILED TO TRADE IN THEIR SCHEDULED NYSE DEBUT The Nigerian fintech's ADSs never opened on Friday after its $304 million IPO priced at $19 each, the low end of the range, per Bloomberg and market data.

WALMART INVESTS IN ZACH DELL'S HOME-BATTERY STARTUP BASE POWER Texas Walmart and Sam's Club stores will offer 20% off Base battery installs from November; the investment amount wasn't disclosed. Base was valued at $13 billion in August, per Dow Jones, the companies and Electrek.

ICELAND'S BLUE LAGOON PLANS A NOVEMBER IPO ON NASDAQ ICELAND Shareholders of the geothermal spa, the country's top tourist attraction, approved a public share offering and a Main Market listing on Friday, plus share options for about 700 staff, per Bloomberg and Arctic Today.

BLACKSTONE NOW EXPECTS ANTHROPIC TO RECEIVE A 'HIGH' JUNK CREDIT RATING AFTER ITS IPO That's a shift from the private capital firm's previous guidance, and means the AI company may not secure an investment-grade rating, per the Financial Times.

CD&R IS PURSUING A BUYOUT OF GLOBAL PAYMENTS IN WHAT WOULD RANK AMONG THE LARGEST BUYOUTS IN HISTORY $GPN shares jumped about 10% on the report that the private equity firm is going after the roughly $40 billion payment processor, per the FT.

BAMBUSA THERAPEUTICS OPENS BELOW ITS $16 IPO PRICE IN ITS NASDAQ DEBUT $BBTX first traded at $15.18, about 5% under the offer price, after the biotech's upsized $169 million IPO priced at the midpoint of its range, per Nasdaq data and the company.

JIO PLATFORMS' PROFIT RISES 13.7% IN ITS FIRST RESULTS SINCE ITS BLOCKBUSTER MUMBAI DEBUT Ambani's Jio posted consolidated net profit of 83.89 billion rupees for the September quarter, days after a record $3.2 billion IPO, per Reuters.

AGILITY ROBOTICS EXPECTS ABOUT $465 MILLION FROM ITS SPAC DEAL AND A NASDAQ DEBUT AS AGLT ON NOV. 5 The humanoid robot maker's tie-up with Churchill Capital XI $CCXI includes a $201 million PIPE led by Foxconn and should close Nov. 4, pending a shareholder vote, per the company.

OPAY PRICES NYSE IPO AT $19 PER ADS, THE LOW END OF ITS RANGE, RAISING $304 MILLION Launched in Nigeria in 2018, the digital finance platform serves more than 50 million users across Nigeria, Egypt, Pakistan and Indonesia. $OPAY starts trading today, per the company.

CYERA IS IN TALKS TO RAISE MONEY AT A $20 BILLION VALUATION, NEARLY DOUBLE WHAT IT IS WORTH NOW The five-year-old cybersecurity startup, which protects corporate data against AI-powered attacks, has spoken to investors about the round, per The Information.

BAMBUSA THERAPEUTICS PRICES UPSIZED $169 MILLION IPO AT $16, THE MIDPOINT OF ITS RANGE The Boston biotech, built on antibody assets it bought from a BioNTech unit, sold 10.56 million shares, up from 9.38 million planned. $BBTX starts trading on Nasdaq on Friday, per the company.

CULLEN/FROST $CFR IS LEAVING THE NYSE FOR THE TEXAS STOCK EXCHANGE The San Antonio lender, which TXSE called the largest Texas-headquartered bank, will stop trading on the NYSE after the Nov. 11 close and open on TXSE on Nov. 12 under the same ticker, per the company.