Michael Burry Calls Anthropic's Valuation a Bubble Worth 78 S&P 500 Companies

BeInCrypto2026/10/08 05:00

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Michael Burry says Anthropics valuation could buy 78 profitable companies in the SP 500, a price he calls a bubble. The list includes Dominos, Clorox, lululemon, and Hormel Foods, though Burry did not say which Anthropic valuation he used. The companys last private round, in May, priced it at $965 billion ahead of a planned initial public offering (IPO). How Does Anthropics Valuation Stack Up Against UPS? In his Substack post, Burry also benchmarked the figure against the 1990s. He said United Parcel Service (UPS) held the 1990 to 2000 record for inflation-adjusted pre-IPO valuations, at $119 billion. That price equaled 26 times earnings and 2.4 times sales, Burry said. UPS was 92 years old and earned a net margin of about 8.6%. A fun game in times like these is to go to the SP 500 Index and see how many profitable companies one can buy with the bubble private company valuation. Anthropic, by contrast, was founded in 2021. Its leaked draft prospectus shows a $42 billion net loss for 2025, Fortune reported. Reuters reported that most of the loss was an accounting charge rather than operating spending. However, the same filing shows $11.5 billion in second-quarter 2026 revenue and points to a second straight operating profit. It also lists $518 billion in planned cloud and infrastructure spending in coming years. Will Public Markets Pay for Growth Before Profit? Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital led the $65 billion round that set the $965 billion mark, CNBC reported. Prospective investors now put fair value between $1.8 trillion and $2 trillion. Anthropic is targeting a listing before Thanksgiving, according to the same report. The post follows Burrys stock market warnings. On Oct. 5, he said stocks sit in a denial stage he expects to last six to nine months. Days after the May round, he told Substack subscribers that Anthropics long-term worth near $1 trillion was far from assured. A listing near $2 trillion would test whether public investors pay for revenue growth ahead of earnings. Reuters reported that analysts see the first AI lab to list as the pricing reference for the sector. Read the article at BeInCrypto

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October 8 - * Snack and carbonated beverage giant PepsiCo (PEP.O) saw its shares rise by 2% in pre-market trading, quoted at $125.32. ** The beverage manufacturer stated it expects full-year revenue to reach the upper end of the previously forecasted range of 4% to 6%. ** It now anticipates annual core earnings per share growth of 1% to 2% at constant currency, compared to the previously forecasted lower end of the 4% to 6% range. ** Third-quarter net revenue came in at $25.27 billions, surpassing analyst expectations of $24.96 billions compiled by LSEG. ** Core earnings per share grew 2% in the third quarter to $2.34. ** CEO Ramon Laguarta stated: "We are currently formulating further structural cost-saving measures, which will be implemented in the coming months." ** As of the previous session close, the stock was down 13.8% year-to-date. (For the convenience of non-English speakers, Reuters provides automated translations of its reports into several other languages. Since automated translations may contain errors or lack necessary contextual information, Reuters does not guarantee the accuracy of these automated text versions. They are provided solely for reader convenience. Reuters assumes no responsibility for any damage or loss arising from the use of automated translations.)

路透社•2026/10/08 10:26

Updated version 1 - PepsiCo will cut costs as weak North American business weighs on annual core profit outlook

The third paragraph adds comments from the CEO, and the fourth paragraph provides information on stock price trends. Reuters, October 8 - PepsiCo (PEP.O) announced on Thursday that, due to weak snack and beverage demand in North America and rising input costs, it has lowered its annual core profit forecast and will further advance cost-cutting measures. Consumer goods manufacturers such as PepsiCo, General Mills (GIS.N), McCormick (MKC.N), and Conagra Brands (CAG.N) are facing a challenging operating environment: soaring raw material costs are squeezing profit margins, and rising gasoline prices are prompting consumers to be cautious with their spending, thereby dampening demand. “We are developing additional structural cost reduction measures, which will be implemented in the coming months to support investments aimed at accelerating organic revenue growth and mitigating the impact of input cost inflation,” CEO Ramon Laguarta stated in the announcement. The company’s shares rose about 1% in pre-market trading. The company expects that, after adjusting for currency fluctuations, fiscal 2026 core earnings per share will rise between 1% and 2%, lowered from the previous forecast of a 4% to 6% increase at the low end. In addition, the company expects annual organic revenue to grow by roughly 3%, compared to its previous forecast range of 2% to 4%. (For the convenience of non-English speakers, Reuters has automatically translated this report into several other languages. Automated translations may contain errors or may lack necessary context, and Reuters does not guarantee the accuracy of automated translation texts, which are provided for convenience only. Reuters accepts no liability for any damage or loss arising from the use of the automated translation feature.)

路透社•2026/10/08 10:26

BUZZ-IonQ shares surged as the company has advanced to the final stage of the U.S. Quantum Testbed Program.

On October 8, shares of quantum computing company IonQ (ticker: IONQ.N) rose 1.52% in pre-market trading to $41.97. The company announced that it has entered the third phase of the DARPA (Defense Advanced Research Projects Agency) quantum benchmarking program. This move signals recognition of IonQ's quantum computing technology. DARPA is a U.S. government agency responsible for funding and promoting the development of advanced defense technologies. Its QBI program aims to test which quantum computers will ultimately have the performance and reliability required for real-world applications. The third phase is the final testing and validation stage, set to last until 2029, with a potential contract value of up to $300 million. As of the previous trading day’s close, IonQ's stock was down 7.87% year-to-date.

路透社•2026/10/08 10:25