All posts tagged: Ratifies

Instant View: Anthropic IPO filing ratifies Wall Street’s AI obsession

Instant View: Anthropic IPO filing ratifies Wall Street’s AI obsession

NEW YORK, June 1 : AI giant Anthropic said on Monday it has confidentially filed for a U.S. initial public offering, teeing up a watershed moment for Wall Street’s AI frenzy. Tech stocks continue to lead the Nasdaq Composite and S&P 500 in a record-breaking market rally, while Elon Musk’s SpaceX is set to price its IPO this month and Anthropic rival OpenAI, led by Sam Altman, is waiting on deck. MARKET REACTION: U.S. stocks were mixed on Monday afternoon, with the Nasdaq up 0.3 per cent, the S&P 500 up 0.1 per cent and the Dow industrials off 0.3 per cent. Salesforce rose 10 per cent on Monday, following a report that its stake in Anthropic is valued at $5 billion. COMMENTS: MATT KENNEDY, SENIOR STRATEGIST AT RENAISSANCE CAPITAL, NEW YORK:”It’s true that many private tech unicorns have sat on the sidelines waiting for an IPO market that would grant them their desired valuations. That is not the case with Anthropic and other “elite” AI developers.” “Virtually any private round Anthropic raised would have …

Writers Guild Ratifies Four-Year Contract Deal With Studios

Writers Guild Ratifies Four-Year Contract Deal With Studios

Members of the Writers Guild of America gave the green light on Friday to a four-year deal with studios and streamers that will stem the bleeding of the union’s ailing health plan. The atypically long pact, which injects $321 million into the plan, was supported by slightly more than 90 percent of members and rejected by 9.6 percent in a ratification vote. “In the face of industry contraction and runaway healthcare cost inflation, writers were able to secure a contract that returns our Health Fund to a sustainable path and builds on gains from the 2023 strike,” WGA West president Michele Mulroney said in a statement as she thanked everyone involved in the process. The results arrived after union negotiators sought to convince members that trading a shorter deal for the largest-ever boost to annual health funding in the union’s history was a worthy bargain. “Agreeing to a four-year deal this time allowed us to get more and new funding for the health plan than we’ve actually ever gotten before,” the co-chair of the WGA’s …