WEBVTT 1 00:00:14.250 --> 00:00:19.320 Good morning. It's ten past six in the morning on Thursday the 15th of October. 2 00:00:19.440 --> 00:00:21.750 This is Not Perfect News. I'm James. 3 00:00:21.870 --> 00:00:22.690 And I'm Julie. 4 00:00:22.810 --> 00:00:24.360 Here are today's main stories. 5 00:00:24.480 --> 00:00:30.100 United States inflation rose higher than expected in September, according to official figures. 6 00:00:30.220 --> 00:00:36.210 A container ship has sunk and another was damaged by projectiles in the Strait of Hormuz. 7 00:00:36.330 --> 00:00:42.340 Reform UK faces a crisis following undercover footage of racist and violent remarks. 8 00:00:42.460 --> 00:00:49.750 Coming up, artificial intelligence, technology, and today's feature: Anthropic flags revenue surge ahead of stock market debut. 9 00:00:49.870 --> 00:00:55.150 This programme is researched and voiced using AI, and every source is on our website. 10 00:00:55.270 --> 00:00:57.220 Here's Julie with the world news. 11 00:00:57.920 --> 00:01:04.050 Thanks, James. Official figures show US inflation rose to three point seven per cent in the year to September. 12 00:01:04.170 --> 00:01:09.360 The increase exceeded expectations and was driven largely by higher petrol and energy prices. 13 00:01:09.480 --> 00:01:14.770 A Singapore-flagged container ship has sunk in the Strait of Hormuz after being struck by a projectile. 14 00:01:14.890 --> 00:01:20.270 All twenty-one crew members were safely evacuated, though Iran claims the vessel hit a naval mine. 15 00:01:20.390 --> 00:01:26.010 Pope Leo the Fourteenth is recovering well in hospital following surgery to remove part of his right lung. 16 00:01:26.130 --> 00:01:31.910 Medical updates confirm he is now walking and eating, but future papal trips remain in question. 17 00:01:32.030 --> 00:01:34.060 Here's James with the UK news. 18 00:01:34.760 --> 00:01:49.590 Thanks, Julie. Reform UK is facing a crisis after undercover footage revealed candidates and councillors making racist and violent remarks. The party says it has launched investigations and issued suspensions in response to this behaviour. 19 00:01:49.710 --> 00:02:02.970 Prime Minister Andy Burnham has assured President Volodymyr Zelensky that British support for Ukraine remains unwavering. He noted that Russia responded to proposed energy ceasefires with further attacks on critical infrastructure. 20 00:02:03.090 --> 00:02:18.300 Palantir and the office of London Mayor Sadiq Khan have settled their legal dispute over a fifty million pound police contract. The company previously claimed the contract was blocked unlawfully over their corporate values. 21 00:02:18.420 --> 00:02:21.130 Here's Julie with the technology and AI news. 22 00:02:21.830 --> 00:02:33.980 Thanks, James. Australia has introduced new legislation to parliament aiming to protect children online. The Digital Duty of Care bill would compel major tech platforms to let users switch off recommendation algorithms. 23 00:02:34.100 --> 00:02:45.650 The Federal Bureau of Investigation has arrested an OpenAI engineer from Saudi Arabia. Abdulrahman Alfozan is charged with using a device to intercept communications, and his contract has been terminated. 24 00:02:45.770 --> 00:02:47.790 Here's James with today's feature. 25 00:02:48.490 --> 00:02:54.820 Thanks, Julie. Artificial intelligence company Anthropic has reported a significant revenue increase. 26 00:02:54.940 --> 00:03:00.050 The firm shared the news during a briefing with prospective investors in San Francisco. 27 00:03:00.170 --> 00:03:03.440 That meeting comes ahead of an anticipated stock market listing. 28 00:03:03.560 --> 00:03:11.070 Anthropic revenue surged by forty five per cent to sixteen point eight billion dollars in the three months to the end of September. 29 00:03:11.190 --> 00:03:14.240 The company also turned a profit in that last quarter. 30 00:03:14.360 --> 00:03:19.250 As one of the leading artificial intelligence labs, Anthropic is drawing massive interest. 31 00:03:19.370 --> 00:03:26.810 Its transition to a publicly traded company will serve as a major benchmark for investor appetite in the generative AI sector. 32 00:03:26.930 --> 00:03:34.700 Supporters argue that strong quarterly revenue growth and achieving profitability demonstrate that foundational models can build a lucrative business model. 33 00:03:34.820 --> 00:03:41.090 An upcoming public listing provides the necessary capital to scale infrastructure and compete effectively against rivals. 34 00:03:41.210 --> 00:03:50.980 Sceptics point out that rapidly scaling artificial intelligence infrastructure requires immense capital expenditure that may eventually outpace quarterly revenue gains. 35 00:03:51.100 --> 00:03:58.050 Market sentiment towards technology stock market debuts can be volatile, which could potentially impact the anticipated valuation. 36 00:03:58.170 --> 00:04:07.080 Questions also persist regarding the valuation metrics of major artificial intelligence firms and whether current high revenue growth rates can be sustained. 37 00:04:07.200 --> 00:04:15.310 While financial metrics indicate strong near term commercial traction, market observers await the release of formal IPO prospectus filings. 38 00:04:15.430 --> 00:04:21.190 The exact valuation Anthropic will target during its initial public offering remains unconfirmed. 39 00:04:21.310 --> 00:04:26.960 The long term sustainability of the reported profit margin has not been independently verified either. 40 00:04:27.080 --> 00:04:32.950 Turning a profit is one thing, but keeping it going while building supercomputers is quite another. 41 00:04:33.070 --> 00:04:38.810 That profitability question sits at the very heart of the wider debate across the technology sector. 42 00:04:38.930 --> 00:04:44.320 Large language model providers have spent billions on specialised hardware to train their systems. 43 00:04:44.440 --> 00:04:49.730 Observers are watching closely to see if other labs can match these financial results. 44 00:04:49.850 --> 00:04:58.530 A successful public debut by Anthropic could fundamentally alter funding strategies across the entire artificial intelligence industry. 45 00:04:58.650 --> 00:05:05.300 Competitors will likely look to public markets if investor appetite proves robust enough to sustain massive valuations. 46 00:05:05.420 --> 00:05:10.730 Private funding rounds have carried the weight of artificial intelligence development for several years now. 47 00:05:10.850 --> 00:05:16.920 Transitioning to public ownership brings entirely new levels of regulatory scrutiny and public accountability. 48 00:05:17.040 --> 00:05:23.530 Shareholders demand consistent returns and transparent reporting every single quarter. 49 00:05:23.650 --> 00:05:30.200 That pressure can sometimes conflict with the long term research horizons typical of foundational laboratories. 50 00:05:30.320 --> 00:05:36.270 Balancing commercial demands with rapid technological advancement remains a delicate tightrope act. 51 00:05:36.390 --> 00:05:41.100 Prospective investors heard detailed projections during the San Francisco meetings this week. 52 00:05:41.220 --> 00:05:46.660 Those briefings offered a rare glimpse behind the scenes of a privately held artificial intelligence giant. 53 00:05:46.780 --> 00:05:51.360 Formal regulatory filings will eventually provide the complete picture once submitted. 54 00:05:51.480 --> 00:05:56.680 Quite so, and investors will be reading every single page of that prospectus when it finally drops. 55 00:05:56.800 --> 00:06:01.110 San Francisco boardrooms are certainly going to be busy over the coming weeks. 56 00:06:01.230 --> 00:06:03.920 They always are when billions of dollars are on the table. 57 00:06:04.620 --> 00:06:07.910 Before we go, a reminder of today's main stories. 58 00:06:08.030 --> 00:06:12.860 US inflation rose higher than expected in September, according to official new figures. 59 00:06:12.980 --> 00:06:17.620 A container ship was sunk and another damaged by projectiles in the Strait of Hormuz. 60 00:06:17.740 --> 00:06:23.140 You'll find all our sources, the transcript and chapters at news.notperfect.biz. 61 00:06:23.260 --> 00:06:28.250 This programme is made with AI, so please check the linked sources for anything important. 62 00:06:28.370 --> 00:06:30.410 That's all from us this morning. I'm Julie. 63 00:06:30.530 --> 00:06:33.370 And I'm James. Thanks for listening, and goodbye.