Anthropic told prospective investors its second-quarter revenue exceeded $11.5bn, up more than 14 times from a year earlier, and that it posted positive adjusted operating income. First-quarter revenue was $4.73bn, meaning the company more than doubled revenue in three months. It generated roughly $16.2bn in the first half of the year. The company’s annualised run rate is close to $47bn.

Joshua Kushner’s Thrive Capital has disclosed buying roughly $215mn of Amazon shares. The disclosure came the same week the firm told investors it would sell part of its OpenAI stake, in a company Amazon now owns close to 5%. Amazon completed a $50bn investment this month and its market value has passed $3 trillion. Thrive has also backed Anthropic multiple times and agreed in April to invest up to $25bn more, booking a $16.8bn paper gain in a single quarter.

Investors are modelling an Anthropic IPO at $2 trillion, arguing surging revenue could support the price in an autumn listing. At that level the five-year-old AI lab would surpass SpaceX, which went public at $1.77 trillion in June. Anthropic said in May its annualised revenue had topped $47bn, and investors forecast $100bn to $120bn by the end of 2026. That implies roughly 43 times revenue at $2 trillion, a multiple the Financial Times said is below what some AI-linked stocks have fetched.

SpaceX told employees in an all-hands meeting that it generated $7.81bn in second-quarter revenue, including $2.56bn from AI and $5.25bn from non-AI businesses. The company is planning to buy AI coding tool Cursor for $60bn, commit to Nvidia hardware purchases and develop data centres in orbit. Elon Musk said he expects AI revenue to surpass the rest of the company’s sales by September.

Foxconn’s second-quarter results show its cloud and networking business, driven by AI servers, accounted for 51% of revenue for the first time. That surpassed the smart consumer electronics segment, which includes the iPhone, at 29%. Net profit rose 35% year on year to NT$59.97bn (about $1.86bn), a record for a second quarter, on consolidated sales of NT$2.53 trillion, up 41%. First-half net profit climbed 27% to NT$109.89bn, while operating margin improved by 0.6 percentage points to 3.75%.

Intel said before the market opened Monday that it plans a $15 billion underwritten public offering and has filed an S-3 registration statement with the U.S. Securities and Exchange Commission. Underwriters have a 30-day option to buy up to $2.25bn of additional shares. The move comes after Intel spent $82bn on share buybacks in the 2010s, reviving debate about financial pressure. The company has also committed €5bn to its Irish fab, but it still lacks meaningful volume orders from external customers, leaving the use of funds in focus.

Etsy reported second-quarter revenue of $668.3m, ahead of expectations, with gross merchandise sales rising 7.5% year on year. The company also announced a $2bn share buyback plan. At the same time, Etsy said it will cut 12% of its workforce, a move expected to result in about $35m in severance and related costs. Overall results were strong, even as the restructuring adds one-off expenses.

Oracle said it will integrate Google’s Gemini 3.1 Flash-Lite and Gemini 3.5 Flash models into its enterprise applications, including NetSuite, to bolster AI capabilities. The move does not use models from OpenAI, which partners with Oracle on infrastructure. After the announcement, Oracle shares rose as much as 8.4% to $127.64. NetSuite has more than 44,000 customers, putting the integration directly in the path of its SaaS competition and commercialization efforts.

US companies are increasingly switching from OpenAI and Anthropic’s higher-priced API services to cheaper Chinese large language models such as Z.AI’s GLM-5.2 and Moonshot’s Kimi K3. In a single week in July, Chinese models accounted for 57% of the tokens consumed by US firms on OpenRouter, and companies including Coinbase, DoorDash, Airbnb and Cursor have publicly said they use them. The shift is pressuring OpenAI and Anthropic’s ability to monetize, and could pose material downside risk to their IPO valuations, The Wall Street Journal reported.