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- 🤖 Anthropic To Raise $2B at $60B Valuation
🤖 Anthropic To Raise $2B at $60B Valuation


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Good Morning. This is the Investor Lookout with the daily digest.
Here’s what we got today:
🤖 Artificial Intelligence Startup Anthropic Raises Another Funding Round
⌨️ Quantum Computing Stocks Take a Beating
🏪 Macy’s Closing Stores in Bid for Profitability

Artificial Intelligence Startup Anthropic Raises Another Funding Round
Anthropic valuation keeps getting higher. Amazon-backed ($AMZN) artificial intelligence startup Anthropic is close to raising another $2 billion and bringing its valuation to $60 billion, months after it received $4 billion in support from Amazon. VC firm Lightspeed Venture Partners is leading the cash infusion, according to anonymous sources. The AI startup will also convert the $4 billion raised from Amazon in convertible notes to equity in this round, bringing the round total to $6 billion. Valuation jumped from $18 billion last year to $60 billion this year.

Reuters
Anthropic's revenue is around $875 million annually.
Its rival, OpenAI, was valued at $157B in its last funding round.

Quantum Computing Stocks Take a Beating
Worried your phone won’t make it to 2030? Quantum computing might take even longer. Nvidia’s ($NVDA) CEO Jensen Huang suggested the technology’s practical use could be 20 years away, sending Rigetti ($RGTI), IonQ ($IONQ), D-Wave Quantum ($QBTS), and Quantum Computing ($QUBT) stocks down over 40%. The drop wiped out more than $8 billion in total market value. IonQ, valued above $10 billion on Tuesday, is projected to bring in $41.6 million next fiscal year, while Rigetti’s market cap stood at about $4.4 billion and is expected to post $11 million in revenue. Huang’s timeline follows a notable industry rally last year, fueled by Google’s December breakthrough.

REUTERS/Steve Marcus
Spear Invest compares quantum’s timeline to Nvidia’s accelerated computing journey.
Analyst Richard Shannon notes government projects could offset minimal revenues.

Macy’s Closing Stores in Bid for Profitability
Macy's is trying to fix accounting again. Macy's ($M) confirmed on Thursday that they are set to close 66 stores as part of a broader plan to return the company to sustainability. The department store will close 9 locations in New York and California and seven in Florida, including the historic Philadelphia City Center store, where the romantic comedy "Mannequin" was filmed. Dubbed "Bold New Chapter," Macy's aims to close 150 stores by 2026. Two furniture stores in Colorado and Florida have already been closed.

GETTY IMAGES
Macy's has lost 25% of its market share since 2012.
The company recently announced an accounting issue with $151 million in hidden expenses.

Market Analysis For the Average Investor 🔎
#1
Ongoing funding in AI could benefit the supply chain, such as cloud providers and chipmakers.
#2
If the fundamental science behind quantum computing is to be believed, dips like this could be seen as buying opportunities.
#3
Macy's is adapting to consumer shifts, and the new plan could trigger higher volatility in its stock.


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