Anthropic's revenue turned into a loss of 17 billion dollars, and Apple (AAPL.US) and Palantir (PLTR.US) financial reports diverged

According to Woofun AI, the background of AI giants' financial fragmentation and market valuation revaluation is highlighted. While Anthropic's revenue is growing rapidly, its operating accounts have turned into losses due to computing power promises and donation allocations, triggering the market to re-examine AI expansion costs and revenue pricing.

The US Securities and Exchange Commission received Anthropic's revised listing documents on November 2, disclosing that its third-quarter revenue reached US$16.956 billion, which is significantly higher than the second-quarter revenue of US$11.555 billion and the same period last year of US$1,382 million.

However, the company switched from operating profit of US$974 million last quarter to operating loss of US$567 million, mainly due to short-term promised computing power costs of approximately US$5 billion and allocation of non-cash donations of US$1.96 billion. Although adjusted operating profit was still US$2,463 million (this caliber excludes donations and equity incentives, US$5 billion of short-term computing power is still included in costs), the adjusted operating margin fell from 19% to 15%, indicating that revenue expansion and cost jumps coexisted; net loss for the same period was US$23.291 billion, of which US$21.936 billion came from non-cash expenses of changes in the fair value of financial instruments such as convertible bonds. The macro-market performance of US stocks was also divided: the S&P 500 closed down 0.5%, the Nasdaq Composite Index fell 1.1%, the Dow rose 0.4%, and the S&P 500 constituent stocks rose nearly 70%. Technology stocks showed signs of stabilization after weakening in October, but Nvidia (NVDA.US) moved from an intraday rise of 2.6% to a close down of 1.3%. The fall in technology stocks dragged down the index at the end of the session, and Brent crude oil fell 7.6%. The pressure continued after the sharp decline in technology stocks on Friday, and investors are still calculating whether AI capital expenditure can cash out profits. After Apple and Palantir released financial reports after the market, whether profits can offset doubts about valuation and costs became a new test point.

According to data compiled by Woofun AI, Apple (AAPL.US) announced revenue of US$114.5 billion for the fourth quarter of the fiscal year ending September 26, an increase of 12% over the previous year, net profit of US$30.7 billion, and earnings per share of US$2.10. Earnings per share include 5 cents of positive impact from tariff refunds. iPhone's revenue for a single quarter hit a record for the same quarter, and revenue from the service business reached a record high. The overall results were higher than analysts' expectations.

However, the quarterly gross margin was 47.9%, and Apple expects it to drop to 45% to 46% in the December quarter, mainly affected by rising memory costs and Siri AI-related expenses. This is the first quarterly earnings report since new CEO Tenus took over, showing strong revenue and pressure on profit margins. Palantir (PLTR.US)'s third-quarter revenue was US$2,313 million, up 96% year over year and 20% month-on-month, breaking through US$2 billion in a single quarter for the first time. US commercial revenue of $984 million, up 148% year over year, surpassing US government business's $953 million.

Palantir raised its full-year 2026 revenue guidance to $8.530 billion to $8.534 billion, an increase of approximately 91% year over year in median terms. Marvell (MRVL.US) announced the full share acquisition of Lumentum (LITE.US), with an implied corporate value of approximately US$115 billion and corresponding equity value of approximately US$102.6 billion (approximately US$1,132 per share); each Lumentum share will be exchanged for 4.5 shares of Marvell shares, a 23.9% premium over the closing price on October 28. The transaction is still subject to shareholder and regulatory approval. On the day of the announcement, Marvell and Lumentum shares fell 12.7% and 18.6%, respectively, and the risk of expansion and integration of optical communications came to the table at the same time.

Abu Dhabi National Petroleum has signed a multi-year AI partnership with OpenAI and G42. ADNOC said the cooperation will first use AI agents for oilfield development planning and connect production, refining, logistics and trading operations. The system will be deployed at G42's UAE computing power facilities, and important decisions will still be supervised by personnel. OKX has launched a stablecoin payment card supported by Mastercard in the US. Eligible US users can spend USDC, USDT, and USDG in OKX Pay, and receive up to 10% cashback on eligible USDG transactions.

The New York Stock Exchange plans to add on-chain shareholder governance services to the tokenized securities platform. Broadridge (BR.US) will provide shareholder communication, proxy voting, and digital transfer agents. The platform will still require regulatory approval before launching. Nvidia, Costco, and Nike joined the list of opponents of OKX-ICE's tokenized stock exchange plan. According to media statistics, 43 of the 62 companies initially proposed to be listed have raised objections, accounting for about 69%. HSBC (HSBC.US) will establish an AI and Emerging Technology Research Institute in Hong Kong, which is scheduled to operate in early 2027. The initial direction includes AI training, security and anti-fraud, as well as post-quantum cryptography and blockchain. The Hong Kong University of Science and Technology will act as the main academic partner.