Mashable Selects Mashable's Best: E-readers, robovacs, laptops, earbuds, smart home and more In My Bag Look Up Creator Playbook Say More AI at School Safety Net Versus Trending Now Back to School Good Connection: Uplifting stories for a digital age All Series Reuters reviewed Anthropic's IPO prospectus, revealing new details about the AI company's financials. Matt Binder joined Mashable's tech vertical in 2018, where he covers social media, tech policy, cybersecurity, online scams, cryptocurrency, AI, creator news, weird tech, and other related tech beats. Anthropic lost billions of dollars last year, according to its prospectus to potential investors. Anthropic, one of the biggest AI companies in the world, is currently gearing up to go public. As the Claude-maker prepares for a potential blockbuster IPO later this year, Reuters has got its hands on the company's prospectus, which lays out Anthropic's financials and risks for investors.

Reuters reported that approximately 80 pages of the 261-page main body of the Anthropic prospectus were devoted to laying out risk factors. Reuters reported that approximately 80 pages of the 261-page main body of the Anthropic prospectus were devoted to laying out risk factors. Anthropic'warns of existential AI risks to humanity' in IPO document Reported admission to investors of AI's'self-preserving behaviours' comes as company prepares for a potential $2tn flotation Anthropic is telling investors that advanced AI could pose "catastrophic or existential risks to humanity", according to reports, as it prepares for a potential $2tn (£1.5tn) flotation. The warning inside the startup's IPO prospectus, which has yet to be made public, was reported by Reuters and the Financial Times. It follows the company's call for a slowdown in breakneck development of the technology - a warning echoed by rivals . The prospectus - a document outlining a company's finances, growth plans and risk profile ahead of a share listing - is said to warn that AI models could exhibit "self-preserving behaviours", including attempts to "resist shutdown", to "conceal or manipulate information" and behaviour "resembling blackmail".

Anthropic's draft IPO prospectus has now started circulating in the media (after its confidential June SEC filing) and revealed some significant risks, Reuters reported. The first of those is fiscal, as the company reported an operating loss of 8 billion last year (on a 42 billion net loss), despite a 12-fold revenue increase from the year before to 4.6 billion. The other is a veritable first for a company prospectus, with Anthropic stating that its AI tech may pose "existential risks to humanity." Despite an estimated 2 trillion valuation ahead of its IPO, Anthropic hasn't been a money-spinning operation so far. The company plans to spend 518 billion on data center infrastructure over the coming years despite its meager 2025 revenue.

If a recent crop of commercials touting the benefits of artificial intelligence is any indication, lots of Americans these days feel unduly burdened by the demands of everyday cognition. Apparently, it's asking way too much to expect a human to figure out how to make a small repair, or write a note to a friend, or plan a meal to feed a child. I've got a perverse favorite among these ads, for Apple Intelligence. A sharp-looking Black man of maybe fifty named Lance sits down at a drab, clean conference table full of colleagues. Somebody asks him if he's read a "prospectus," and Lance decides to lie about it.

CloudWalk, an artificial intelligence enterprise, was officially listed on the Shanghai Sci-Tech Innovation Board (STAR Market) on Friday. During its first day of trading, its share price rose 56% to 24 yuan ($3.58) per share before settling at a closing price of 21.4 yuan and a current market value of 15.85 billion yuan. CloudWalk was born in a laboratory at the Chinese Academy of Sciences. Founder Zhou Xi graduated from the University of Science and Technology of China, and the University of Illinois Urbana-Champaign. In 2011, Zhou returned to China to set up an AI team at the Chinese Academy of Sciences, and in 2015, he founded CloudWalk.

Chinese artificial intelligence start-up SenseTime Group has postponed its $767m Hong Kong initial public offering (IPO) after being placed on a US investment blacklist. SenseTime said it remained committed to completing the offering and would publish a supplemental prospectus and an updated listing timetable. Reuters first reported earlier on Monday the company's plan to withdraw the offering and update its prospectus to include the potential impact of the US investment ban, with the aim of relaunching the IPO process. SenseTime had planned to sell 1.5 billion shares in a price range of HK$3.85 ($0.49) to HK$3.99 ($0.51), according to its regulatory filings. That would raise up to $767m, a figure that had already been trimmed earlier this year from a $2bn target.

SenseTime, whose products are used in smart cities, police surveillance and autonomous driving, had planned to raise as much as $767 million in an initial share sale on the Hong Kong stock exchange this month. On Friday, the U.S. Treasury Department named SenseTime among 25 individuals and entities that it said were connected to "human rights abuse and repression in several countries around the globe," and added it to a list of companies that it says are supporting China's military. U.S. authorities cited the use of SenseTime's facial-recognition technology in China's effort to suppress and assimilate mainly Muslim ethnic minorities in western China. The designation prevents Americans from investing in the company. On Saturday, SenseTime said the accusation was baseless and reflected "a fundamental misunderstanding of our company."

Last November, the Chinese government ordered Ant Group, a business spun out of Alibaba that operates the ubiquitous Alipay mobile payments platform and other financial services, to cancel its hotly anticipated IPO at the last moment. Shortly after ride-hailing giant DiDi went ahead with an IPO in New York this summer despite government concerns, officials removed the company's app from Chinese app stores and ordered it to comply with an extensive cybersecurity review. Soon after, ByteDance, operator of wildly popular news and entertainment apps, as well as the short-video sensation TikTok outside of China, shelved its own plans for an IPO to comply with tighter government rules around data protection and security. So it's a little odd that two titans of China's artificial intelligence industry, SenseTime and Megvii, are proceeding with plans for IPOs seemingly unbothered, with listings on the Hong Kong and Shanghai stock exchanges, respectively. After a decade of unchecked growth, many Chinese tech firms now face a stark new reality, with canceled IPOs, stricter regulations, and hefty fines.

TYSONS, Va.--(BUSINESS WIRE)--QOMPLX, a leader in cloud-native risk analytics, has entered into a definitive agreement to acquire RPC Tyche LLP ("Tyche"), a rapidly growing insurance software modeling and consulting firm based in London, Cambridge, Paris and Chicago. Tyche bolsters QOMPLX's insurance analytics offerings, and the combined business will offer more comprehensive insurance underwriting, pricing, risk modeling, capital modeling, and reserving functionality. It is an exceptional software business that combines innovative technology with actuarial expertise to help reduce the time and costs that insurers, reinsurers and intermediaries face in producing actionable data feeding today's commercial and regulatory decision-making. Tyche and QOMPLX's combined team are building the insurance data factory of the future with superior capabilities for data integration, transformation, analysis, and contextualization for corporations, employees, and consumers. Tyche's core modeling platform focuses on the complex challenges facing insurers: pricing risks, modeling and reserving capital, and improving efficiency.

One of China's most valuable artificial intelligence chipmakers Cambricon is one step closer to its initial public offering, and its prospectus reveals a rare snapshot of where Chinese companies stand in relation to their international counterparts in this critical field. Cambricon got the nod in early June to list on the Star Market, China's new Nasdaq-like stock exchange conceived to attract high-potential tech startups. This week, the chipmaker received the final green light from the China Securities Regulatory Commission, the stock market watchdog, for its first-time sale. The company is aiming to raise 2.8 billion yuan ($400 million) from its IPO and spend the proceeds on cloud-based algorithm training and inference, edge computing, and cash flow boost. It was last valued at 2.5 billion yuan in 2018 and expects its market cap to exceed 1.5 billion yuan when it floats.