After losing close to its 52-week high, investors are watching Berkshire Hathaway (BRK-B). On the weekend, the holding company posted Q3 results.
Berkshire earned $12.7 billion (-5.8% Y/Y). Its cash and equivalent holdings topped $377.4 billion. The firm reported minimal stock buying/selling activities, with around $2.4 billion in buys and $.2 billion in sales. Still, its shareholders will get more detail on its investment in Bending Spoons (BSP) when the firm files its 13F.
The Financial Times reported that Anthropic (ANT) will still proceed with its initial public offering. Despite a steep week-long sell-off in AI supplier names like NVIDIA (NVDA), Anthropic will accept a lower valuation.
The firm is targeting to raise $80 billion to $100 billion for a valuation of $1.25 trillion to $1.75 trillion. Time is of the essence: valuations are dropping rapidly after the Democrats won both the House and Senate. Markets priced in higher odds of regulations that would scrutinize data center build-out proposals.
OpenAI settled for a funding raise of $11 billion on Nov. 6. That is sharply lower than the $30 billion it originally sought.
DraftKings (DKNG) plunged by 11.5% last week. It lost 21.3% on Nov. 6 after the sports betting site reported a loss. The competition in betting worsened. The rise in the predictions betting market hurts the firm. Investors should beware of downside risks for Flutter Entertainment (FLUT) and PENN Entertainment (PENN) as well.
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