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Apr 07, 2026
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Happy Tuesday! Anthropic says it has topped $30 billion in annualized revenue. Oracle names a new CFO. OpenAI asks the attorneys general for California and Delaware to investigate Elon Musk.
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Anthropic said Monday it had topped $30 billion in annualized revenue, implying growth surged 58% since the end of February. The maker of the Claude chatbot has been rapidly narrowing its revenue gap with the larger OpenAI, which was generating $25 billion in annualized revenue in February. A vast majority of Anthropic’s revenue comes from selling access to its AI models via an application programming interface, with the rest coming from subscriptions to premium features of its Claude chatbot. Annualized revenue has more than tripled from $9 billion at the end of last year. This fast growth has increased the need for Anthropic to access compute to run and its models. The company on Monday also said it also struck a new deal with Google and Broadcom for multiple gigawatts of capacity of Google’s Tensor processing units from 2027 onwards. “We are building the capacity necessary to serve the exponential growth we have seen in our customer base while also enabling Claude to define the frontier of AI development,” said Anthropic CFO Krishna Rao in the blog post.
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Oracle named Schneider Electric’s former chief financial officer Hilary Maxson to be CFO, the first time in years the software-and-cloud giant has had a CFO. Maxson’s appointment comes as Oracle has borrowed heavily to fund a huge investment in AI data centers. Maxson, who had announced her departure from Schneider late in February effective on Sunday, starts at Oracle today. Oracle’s finances had been overseen by Doug Kehring, previously the executive vice president of operations, since last September, when Safra Catz stepped down as CEO and principal financial officer. Before becoming CEO in 2014, Catz had been CFO.
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OpenAI’s chief strategy officer, Jason Kwon, on Monday asked the attorneys general for California and Delaware to investigate Elon Musk’s alleged efforts to undermine OpenAI, according to a copy of the letter viewed by The Information. OpenAI argues that Musk has attempted to interfere with OpenAI, calling his actions “anti-competitive.” One of OpenAI’s complaints in the letter cites reporting from a New Yorker article published Monday that Musk paid at least one person to circulate inflammatory and potentially false claims about OpenAI CEO Sam Altman. Another complaint involves the $97.4 billion bid that Musk lodged last year to acquire the assets of the OpenAI nonprofit. The OpenAI letter is the latest salvo in a lengthy battle with Musk, an estranged co-founder who has said the startup has violated its charitable mission to ensure that powerful AI benefits humanity. The two attorneys general reached agreements with OpenAI in late October allowing it to proceed with a restructuring in which its for-profit business became a corporation with traditional equity and its non-profit wing became a foundation. Monday’s letter argues that Musk’s actions threaten to undermine those agreements and the foundation’s mission. In the letter, OpenAI argues that Musk’s breach of charitable trust lawsuit seeking over $100 billion from OpenAI could wipe out the
foundation’s balance sheet. A Musk lawyer has contested that, saying the funds would come from the for-profit side if Musk wins.
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Broadcom said Monday that it would supply Anthropic with access to around 3.5 gigawatts of Google’s tensor processing units starting in 2027. The chip designer’s update, made in a securities filing, expands a previous partnership to supply Anthropic with about 1 gigawatt worth of TPUs. Broadcom said in the filing that the agreement is “dependent on Anthropic’s continued commercial success.” Broadcom shares jumped 3% after hours. Anthropic Chief Financial Officer Krishna Rao said in a separate statement that the Broadcom deal represents the Claude-maker’s “most significant compute commitment to date to keep pace with our unprecedented growth,” and he signaled that the investment would be supported by the firm’s booming revenue growth. The company recently topped $30 billion in annualized revenue, implying growth surged 58% since the end of February. The compute deal is an expansion of Anthropic’s November 2025 announcement that it would invest $50 billion in data centers in the U.S. That deal was announced in partnership with startup Fluidstack, which leased data centers backstopped by Google to provide TPUs to Anthropic.
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OpenAI suggested possible tax changes and a four-day work week as part of a range of potential industrial policies to prepare for the arrival of smarter-than-human AI systems it is developing. The ideas came in a 13-page document issued Monday. OpenAI also said it is setting up research grants of up to $100,000 and API credits worth up to $1 million for work on the proposed policies. “Unless policy keeps pace with technological change, the institutions and safety nets needed to navigate this transition could fall behind,” said the document, comparing the necessary policy response to the New Deal. OpenAI said that past policy efforts helped make electricity and airplanes widely safe, but given the rapid pace of AI progress, there is less time to prepare for superintelligence than past technologies. In a list of both economic and AI safety interventions, OpenAI advocated for workers to use AI to start their own companies and for tax changes to fund welfare programs and incentivize worker retraining. It said AI’s enhancements to labor productivity could enable experiments with a four-day workweek. And the company endorsed international collaboration on model evaluations, as well as auditing standards for the safety practices of AI companies. It also said that audits might be necessary in the future for models that could develop weapons of mass destruction.
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ServiceNow chairman and CEO Bill McDermott saw his compensation climb 37% to nearly $52 million in 2025, according to a regulatory filing Monday, thanks to a 30% higher cash bonus of $3.5 million and $43 million of stock awards. The stock awards were a significant increase from each of the past two years, when McDermott got around $32 million in awards. In December, ServiceNow extended McDermott’s employment agreement through the end of 2030. ServiceNow stock has more than halved from its peak above $230 in late 2024 as software companies’ valuations have come under pressure as investors have worried the industry will be disrupted by AI agents.
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