Of the $104 billion net loss, how much is “real cash burn” and how much is “accounting noise”

Seeing the figure “$104 billion in net losses in the first nine months,” it’s easy to think, “That’s a terrifying amount to lose.” But without breaking it down, you could misread Anthropic’s actual burn rate.

The prospectus lists net losses of $1.5 billion, $8.3 billion, and $42 billion in 2023, 2024, and 2025, respectively. The appendix offers a key explanation for the $42 billion loss in 2025: it was mainly driven by changes in the fair value of convertible notes as the company’s valuation rose. T

MU-1.61%

JinruiC 42 minutes ago

$XAUT 11.13 Gold Outlook

Three bearish shocks—CPI exceeding expectations, rate hike expectations, and rising geopolitical tensions in the Middle East driving up oil prices—sent gold down from 4150 to 3852

Looking at the charts, the broader bearish structure on the weekly and daily timeframes remains intact, while the short-term trend is slightly choppy. Price has repeatedly tested support, indicating a brief pause after the decline, with no clear reversal signal

Trade reference: If 3895 and 3920 hold, scale into short positions, targeting 3850 and 3800

XAUT+0.30%

Trenches

mihao

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AGT

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Max

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IDOL

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ShenYuning 2 hours ago

【11.13 BTC Morning Market Analysis】

The bulls are extremely weak and cannot even mount a decent rebound. After an early-morning plunge, the price is now hugging the lower Bollinger Band, which is opening downward. The broader trend is clearly bearish. Short-term bounces are often just technical recoveries after oversold conditions and are unlikely to reverse the overall bearish trend.

Stay with the trend and look to short; don’t blindly buy the dip. In a strong bearish trend, a rebound is an opportunity to get in. Use resistance above as a reference and enter short in batches around 717-722.

TheMagnificentEighteenFacesan hour ago

The two spikes didn’t hit the price—they hit the stop-losses sitting there
Last night from 21:00 to 22:00, $KORU plunged from 8.035 to 7.63
1.9 million shares, 1.96 million shares—2.1 and 2.2 times average volume
It snapped right back after the dump, closing at 7.993 at 22:00, leaving a 0.36 wick
It’s a 3x leveraged Korean ETF; the underlying moved just over 1%, but this dropped five
Everyone with tight stops got taken out by those two candles (I nearly did too)
For the next six hours, it churned between 8.0 and 8.27, with volume falling to just over a third
Nobody was watching during the lul

KORU-1.22%

DragonFlyOfficial an hour ago

#AnthropicIPOAccessPhase

𝗔𝗻𝘁𝗵𝗿𝗼𝗽𝗶𝗰 𝗜𝗣𝗢 𝗔𝗰𝗰𝗲𝘀𝘀 𝗣𝗵𝗮𝘀𝗲 𝟯: 𝗠𝘆𝘁𝗵 𝘃𝘀. 𝗙𝗮𝗰𝘁 𝗔𝗯𝗼𝘂𝘁 𝗦𝘂𝗯𝘀𝗰𝗿𝗶𝗯𝗶𝗻𝗴 𝗪𝗶𝘁𝗵 𝗨𝗦𝗗𝗧

𝗕𝗲𝗳𝗼𝗿𝗲 𝘃𝘀. 𝗡𝗼𝘄: 𝗪𝗵𝗮𝘁 𝗛𝗮𝘀 𝗖𝗵𝗮𝗻𝗴𝗲𝗱?

Previously, access to an IPO, or Initial Public Offering, generally meant going through traditional investment channels and dealing with a process that could feel difficult for many individual investors.

Now, Anthropic IPO Access Phase 3 introduces another subscription option: users can subscribe to Anthropic (ANT) through USDT-based indicative subscriptions.

This creates an op

ThisIsTranslateContent:Summit24 minutes ago

$900.9 billion in computing commitments is Anthropic’s biggest asset—and its biggest single-point risk

The most eye-catching number in the prospectus isn’t the $104 billion net loss; it’s $900.9 billion.

That is the total value of Anthropic’s signed procurement and lease commitments, the vast majority of which are related to computing power and infrastructure. Around $451.6 billion is expected to be incurred by the end of 2030, with about $70.7 billion due within the next 12 months, and most of the remainder extending from 2031 to 2045. What does $900.9 billion mean? It is 11 times Anthropic

AVGO+5.47%

VernacularBlockchain 2 hours ago

Ethereum Cross-Chain Gets a New Solution: How Does EEZ Break L2 Liquidity Silos?
[Plain-Language Guide] The Ethereum ecosystem has long been hampered by fragmented liquidity between L1 and various L2s, making cross-chain operations cumbersome and inefficient.
This article introduces the Ethereum Economic Zone (EEZ), which uses real-time proofs, compositors, and proxy contracts to let Rollups with different rules directly access mainnet liquidity and applications within the same block, enabling synchronous composability.
This approach means new chains don't need to bootstrap liquidity from scra

ETH-1.26%

HomeOfSerenity an hour ago

ETH｜Short-term strategy

Current price: 2015.25
Timeframes: 1-hour chart for direction｜15-minute chart for candlestick patterns｜1-minute chart for entry
Pivot level: 2020
✅Long: Go long if price pulls back to around 2010 and stabilizes; target 2050-2065, stop-loss below 2005
❌Short: Go short if price rebounds to 2020 and faces resistance; target 1980-1976, stop-loss above 2025
Profit/loss target: $15–20
Note: Low-level range-bound market, with frequent wicks. Always use a stop-loss

ETH｜Medium- to long-term strategy

Current price: 2015.25
Timeframes: Daily chart for direction｜4-hour chart for

ETH-1.26%

CryptoChampionan hour ago

GateSquare2026-11-12 06:47:51

🚀 Anthropic (ANT) launches with a bang, Gate Direct IPO Phase 3 officially opens
AI giant Anthropic (ANT) has opened USDT subscription registration, with a minimum participation amount of 100 USDT.
🔥 Highlights of this subscription
▪️ Reference price: $70–78/share
▪️ Subscription amount: 100–3,000,000 USDT
▪️ Upon successful allocation, shares will be delivered directly to your Gate stock account, with no lock-up period
📅 Subscription period: November 12, 11:00 – November 17, 17:00 (UTC+8)
🤖 From Claude to enterprise-grade AI applications, which aspect of Anthropic's growth potential are you most bullish on? Will you participate in this subscription?
Bring #Gate直通IPO第三期Anthropic to Gate Square to share your views and subscription plans.
👉 Participate now:
https://www.gate.com/zh/ipos/ipo-access/anthropic-ipo-access/69
📖 Subscription rules:
https://www.gate.com/zh/announcements/article/102736

KyleChassé 30 minutes ago

Bitcoin's 30-day apparent demand just hit minus 284,000 BTC. I went back to the last two times it got this deep.
March 2025. Minus 309,000 BTC. Bitcoin bottomed near $74,500 in early April, then made a new all-time high above $126,000 in October.
June 2026. Minus 273,000 BTC. Demand recovered within weeks.
November 2026. Minus 284,000 BTC on November 7, with Bitcoin around $73,000.
Both earlier times, demand recovered within a few weeks and price followed higher inside about two months.
Two examples is a small sample. CryptoQuant's Bull Score sits at 20, a reading that has marked both durable

BTC-0.67%

2In1 10 minutes ago

market update on gate

LIVE1,952

BlackEclipse31 minutes ago

🔹U.S. Stocks Rebound, but Rumors of Jensen Huangs Ouster Trigger After-Hours Selling! Whats Next fo

LIVE1,021

CgZhouYijian 35 minutes ago

Yesterday morning, they were still saying the board would meet to decide whether he would stay or go, and then last night the official website posted it directly: Old Huang is really stepping down??? What the hell
On November 12, Nvidia’s board announced that Jensen Huang had resigned as president, CEO, and director, effective immediately. He co-founded the company in 1993 and worked there for 33 years—just like that, he’s gone.
Current CFO Colette Kress will also serve as interim CEO. The board has begun searching for a permanent successor, both internally and externally. It also established

NVDA-4.49%

KRenJizhaoSuperGod an hour ago

Short $MAGMA ‼️ Entry: 0.332 - Current price Take profit: 0.300 Stop loss: 0.364

MAGMA-0.57%

discovery2 hours ago

#NvidiaCEOResigns

The exit of the most known face of the artificial intelligence era was not read only as a leadership change at one firm, and the market priced this exit as a trust test on the future of the artificial intelligence story.

By the notice on 12 November, Jensen Huang left his role of 33 years with immediate effect, he also left his board seat, and finance chief Colette Kress was named to the interim role, because the firm said the search for a lasting chief goes on.

As the cause of the exit, talks that gathered around personal links and the claim that a woman could be linked

NVDA-4.49%

LuoXing an hour ago

Nvidia plunges more than 30%! Forward P/E falls to a 14-year low—what is the market worried about after Jensen Huang’s departure?
Nvidia (NVDA) shares have recently pulled back sharply, falling more than 30% from the record high set on October 6. The stock is down about 11% for the week, including a drop of more than 4% on Thursday. Meanwhile, the company’s forward P/E has fallen to around 12, its lowest level since 2012.
The management change is a major catalyst. After Jensen Huang stepped down, Chief Financial Officer Colette Kress became interim CEO, and the company is searching for a perma

NVDA-4.49%

ICan_tUnderstandSol2 hours ago

15 Books on Dividends—I Read Them to Shreds Before I Dared to Say This

There are tons of people talking about dividends, but hardly anyone actually reads the books.

A lot of people say, “Buy dividend stocks, hold on, and wait for the payouts.” Ask them, “Where did you get that idea?” and they freeze.

Over the past few years, I’ve read quite a few books. These 15 are the ones that really deliver and are worth revisiting.
I. First, understand one thing: Do dividends count as returns?

1. The Theory of Investment Value — Williams
A classic from 1938, the “constitution” of dividend investing. I

UncleAlchemy 13 minutes ago

Damn, X can finally, finally post 20 foot pics at once 😭

Unoshian hour ago

#eth

Ethereum today broke psychologically point $2000 dollar and fall 1975 dollar. This is bad and it shows it can fal easily more .. Still bearish

ETH-1.26%

TraderIsFullOfSkillsAnd a minute ago

The last bellwether for Chinese Americans in the U.S. is Alexander Wang, the guy next to Zuck. If he ends up like Jensen Huang, everyone else might as well get out now.

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