Anthropic reveals $80bn loss as AI giant files for blockbuster IPO Tech Anthropic has revealed an $80.7bn (£60bn) first-half loss as the AI giant filed for a blockbuster US stock market listing that could value the company at up to $2 trillion. The Claude developer published its long-awaited IPO prospectus with the US Securities and Exchange Commission on Monday, offering investors their first detailed look at its [...]
Tech bosses warn Chancellor UK risks surrendering to foreign AI giants Tech Britain risks becoming dangerously dependent on foreign tech giants unless the government develops a comprehensive strategy for its own AI, industry leaders have warned the Chancellor ahead of his Budget on Wednesday. UKAI, which represents more than 270 AI businesses, has urged John Healey to commit substantial funding to a national sovereign AI strategy, warning [...]
As it happened: FTSE 100 up on defence boost; oil falls back as Trump weighs Iran deal FTSE 100 Live Welcome back to the City AM FTSE 100 live blog. The FTSE 100 has enjoyed a major rally on the back of booming defence stocks ahead of an expected investment from the government at the forthcoming Budget. This is also coming alongside a modest relax in oil prices on new diplomatic hopes in the Middle [...]
Anthropic partners with British private equity firm to launch consultancy arm October 23, 2026 Anthropic is launching a new AI consultancy business in Europe after partnering with London-based private equity firm Hg, according to reports. The company behind some of the world’s most advanced AI models is expected to launch its consultancy firm by the end of the year, the Financial Times reported, set to be based in London [...]
AI minister hints at Budget measures as UK weighs tougher tech rules October 23, 2026 AI minister Kanishka Narayan has hinted at new measures in next week’s Budget, as the government considers tougher regulation of AI alongside plans to reduce Britain’s dependence on foreign technology. Narayan said ministers must go beyond regulating AI and develop domestic technology to give Britain greater influence over how it is used. Speaking on BBC’s [...]
Tesla-SpaceX merger could fuel AI spending spree across Musk’s $3.5 trillion empire October 23, 2026 Elon Musk’s proposed $3.5 trillion (£2.6 trillion) merger of Tesla and SpaceX could unlock a wave of AI investment, giving the billionaire greater access to cash and borrowing power as he races to expand his tech empire. Analysts said combining the two businesses could help Musk fund his increasingly expensive AI ambitions, bringing together Tesla’s [...]
Aquis firm scraps failed Bitcoin treasury strategy after admitting ‘challenges’ October 23, 2026 An Aquis-listed firm will no longer allow shareholders direct exposure to Bitcoin after admitting the strategy damaged its balance sheet. Vaultz Capital transitioned into a pure-play Bitcoin treasury company in mid-2025, raising funds to purchase the cryptocurrency and use it as its primary reserve asset over cash. While the move initially raised £13.6m, the stock [...]
As it happened: FTSE 100 slides as oil surges to five-month high October 23, 2026 Welcome back to the City AM FTSE 100 liveblog. It’s Friday morning and London’s blue-chip index is set for a flat open as pressures on markets persist. The price of a barrel of oil has surged to $114 per barrel, trading at its highest level in over five months. It follows escalating Houthi attacks on [...]
Braddick sets out her vision for banking watchdog with £2bn overhaul October 22, 2026 Katharine Braddick has kicked off her revamp of the UK banking’s watchdog with a regulatory overhaul aiming to generate £2bn in savings for City firms. The Prudential Regulation Authority chief, who took the reins in July, told a City audience on Thursday evening the watchdog would focus on four key priorities of resilience, growth, innovation [...]
PHP cyber threat rocks internet as government and companies scramble to fend off attacks October 22, 2026 A cyber threat identified by tech researchers has left government bodies and multinationals as large as Amazon scrambling to build defences and stop hundreds of hacking attacks. The UK government announced that dozens of services had gone offline as a precautionary measure to fend off cyber threats exposed by vulnerabilities in programming languages. The Office [...]