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Anthropic's financial results showed a dramatic revenue increase of 1,127% to $17 billion during the September quarter. Unfortunately, the company also reported hefty operational losses of $567 million, largely due to soaring computing costs. As a result, net losses climbed to $23.3 billion for the quarter and an alarming $104 billion year-to-date. With plans for a stock market offering, Anthropic faces pressing demands for computing resources.
During the early trading hours, the Indian rupee saw an increase of 12 paise to reach 94.72 against the US dollar, driven by lower crude oil prices at $104.76 per barrel. Continuous investments from Foreign Institutional Investors provided additional backing for the currency. However, the stronger US dollar ahead of the midterm elections capped the gains.
Gold price prediction today: Spot gold prices, following a steep decline of over 3% in the week ending October 30, rose sharply on November 2 as crude oil prices slumped nearly 7% on hopes for resumption of peace talks between Iran and the US. Overall, gold's upside is likely to remain constrained unless prices decisively breach the 4,030-4,066 resistance zone. Supports are seen at 3,900/3,875/3,800/3,750.
Indian Railways is working towards starting trial runs of the B28 train on the 100-km Surat-Vapi stretch of the Ahmedabad-Mumbai High Speed Rail corridor by May-June 2027. Commercial services on this section are expected to commence in August 2027. What will be special about India’s first bullet train? What are the features that passengers can look forward to? We take a look:
Stock market rally today: BSE Sensex ended the day at 76,917.85, up 1,225 points or 1.62%. Nifty50 closed at 23,810.85, up 370 points or 1.58%. The rally added nearly Rs 4 lakh crore to the combined market capitalisation of companies listed on the BSE, taking the total to Rs 486 lakh crore.
Air India is set to bolster its international reach by expanding orders for wide-body aircraft. CEO Tewolde Gebremariam remains optimistic about returning to profitability soon, despite the challenges of losses and escalating costs. The airline has initiated fleet renewal and adopted cost-saving strategies. Key hurdles include effective cost management and the rebalancing of hubs and networks.
State Bank of India reported a 14 percent increase in net profit for the July-September quarter. The bank's total income also rose significantly compared to the same period last year. Asset quality showed improvement, with gross non-performing assets declining notably. Provisions for bad loans decreased, reflecting better financial health during the quarter. The bank's capital adequacy ratio increased, indicating stronger financial stability moving forward.