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Anthropic will publicly release its IPO prospectus on October 26

AI company Anthropic is expected to publicly file its IPO prospectus on October 26, U.S. time, with plans to go public in mid-November. The company submitted documents to the U.S. SEC in secret this June. There was previous market discussion of a $2 trillion valuation; however, as AI-related stocks have come under pressure, some investors have recently lowered their expectations to about $1.5 trillion. The prospectus has not yet been officially released, but Reuters and The Wall Street Journal have obtained a draft.In the first half of this year, revenue was $16.3 billion, compared to $1.1 billion in the same period last year. The net loss during the same period was $80.7 billion, of which about $72 billion came from valuation adjustments of financing instruments such as convertible bonds, rather than actual cash burned. Revenue for the third quarter was $16.8 billion, a quarter-over-quarter increase of about 45%, with the previous quarter's growth exceeding 140%. The company stated that it achieved profitability in the third quarter on an adjusted basis.Future commitments for infrastructure such as cloud computing, chips, and data centers have exceeded $60 billion and will occur over the coming years. By 2025, 47% of revenue will be generated through Amazon and Google's cloud platforms, which are both investors and computing power suppliers. The company plans to allow the seven co-founders to collectively hold 50.1% of the voting rights through a special equity structure, while a long-term public trust composed of non-shareholders will still have the authority to appoint and dismiss the majority of board members. The formal prospectus will need to further clarify the actual revenue contributions from the two major clients, the specific costs of computing power contracts, and whether existing shareholders can sell their stocks first at the time of the IPO.

first_img Samsung's operating profit for the third quarter was 107.4 trillion won, SK Hynix announced its financial report on Wednesday

According to the "Science and Technology Innovation Board Daily," South Korean memory chip companies SK Hynix and Samsung Electronics will announce their performance for the third quarter of 2026 this week, with SK Hynix set to release on Wednesday and Samsung Electronics on Thursday. The report states that with the rising demand for AI chips and increasing prices for memory chips, both companies are expected to deliver strong results, with a combined operating profit for the third quarter projected to reach 184.4 trillion won, approximately 139.1 billion dollars.Samsung Electronics' preliminary results released on October 8 show that third-quarter revenue increased by 127% year-on-year, reaching 195 trillion won; operating profit was 107.4 trillion won, approximately 80.17 billion dollars, compared to 12.17 trillion won in the same period last year, an increase of nearly 8 times. Analysts surveyed by FnGuide expect SK Hynix's third-quarter revenue to be 98.2 trillion won, with operating profit at 77 trillion won. In 2025, Samsung and SK Hynix's operating profits are projected to be 43.6 trillion won and 47.2 trillion won, respectively, totaling 90.8 trillion won. If these predictions come true, Samsung will become the first South Korean company to exceed 100 trillion won in quarterly operating profit.As of the market close on October 23, the stock prices of Samsung and SK Hynix have fallen by 36% and 52%, respectively, since the end of June. The report indicates that investors view the impressive financial reports as expected, with focus areas including HBM4 supply, long-term agreements, and shareholder returns. TrendForce predicts that the average selling price of HBM will increase by 121% next year compared to this year, and the production capacity of Samsung and SK Hynix for next year is already sold out. In the second-quarter financial report, Samsung disclosed long-term agreements with five data center customers, while SK Hynix finalized multi-year contracts with over ten customers. Samsung announced a shareholder return plan of 90 trillion to 110 trillion won this year and will determine a cash dividend of about 30 trillion won for the third quarter by the end of this month. SK Hynix announced a 40 trillion won buyback plan in August and halted the evaluation for Solidigm's IPO. Kim Dong-won, head of KB Securities, stated that despite the significant stock price correction, the profit expectations for both companies have been raised, and the key catalyst for stock revaluation is expected to be the sustainability of profit growth and whether shareholder returns can be further increased.

first_img South Korean retail investors have resumed buying leveraged single stocks in chips, with a net purchase of approximately 4.7 trillion won in SOXL

According to North Korean Commerce reported on October 25, after a sharp decline in the South Korean stock market, individual investors have re-entered to buy leveraged products betting on the rebound of Samsung Electronics and SK Hynix. Data from the Korea Exchange and Koscom ETF Check shows that from October 1 to 23, individual net purchases of 14 related products amounted to 315.4 billion Korean won, of which 7 related to SK Hynix accounted for 226.3 billion won, and 7 related to Samsung Electronics accounted for 89.1 billion won.The aforementioned 14 products had a net purchase of 27.728 trillion won in July, but turned to net selling after regulatory tightening such as the increase in depositary receipts on July 31. In August and September, there were net sales of 648.4 billion won and 497.9 billion won, respectively, and this month individuals have first turned back to net buying. During the same period, KODEX SK Hynix leveraged product saw a net purchase of 15.294 billion won, ranking 11th among ETFs listed in South Korea; individuals also net bought KODEX Leverage 10.448 trillion won and KODEX Semiconductor Leverage 256.4 billion won. The South Korean Composite Index fell by 18.83% in October.Data from the Korea Securities Depository shows that from October 1 to 22, South Korean investors net bought U.S. stocks worth 4.8009 billion dollars, approximately 63.621 trillion won. Among them, the net purchase of SOXL, which tracks the daily returns of the U.S. semiconductor index at 3 times, was 3.54764 billion dollars, about 47.041 trillion won, accounting for 73.9% of the net purchases of U.S. stocks during the same period. The article also noted that leveraged products track daily returns by multiples, and when the market reverses, losses can also be magnified by 2 or 3 times, and during repeated sharp rises and falls, negative compounding effects may also occur.

first_img SK Hynix plans to distribute a special dividend of approximately 16 trillion Korean Won from Kioxia's earnings

According to an exclusive report by the East Asia Daily on October 26, the memory chip company SK Hynix plans to return 80% of the proceeds from the sale of its stake in the Japanese NAND manufacturer Kioxia to shareholders as a special dividend. The report cites investment banks and financial industry sources estimating the related proceeds to be around 20 trillion Korean won, with the special dividend expected to be about 16 trillion Korean won. The company intends to announce this plan during the third-quarter earnings release on October 28. Currently, this is an industry expectation and not an officially confirmed announcement by the company.Based on the current number of shares issued, the special dividend amounts to approximately 23,000 Korean won per share, which is 15 times the annual fixed dividend of 1,500 Korean won per share and 61 times the quarterly dividend of 375 Korean won. Whether the payment will be made in installments is still under consideration. Last year's total dividend was 2.1 trillion Korean won. The company stated during the second-quarter earnings call that it is exploring various additional ways to return value to shareholders and will share the details once determined within the year.In 2018, SK Hynix participated in a consortium led by Bain Capital to acquire the NAND business spun off from Toshiba, which was renamed Kioxia in 2019. The total investment by the company was approximately 395 billion Japanese yen, of which the fund's contribution has been sold in phases by Bain and fully recovered. In the first quarter of this year, part of the disposal recovered 4.1178 trillion Korean won, and after further disposal in the second quarter, the estimated proceeds, excluding the principal, are around 20 trillion Korean won. Kioxia's stock price rose from about 10,000 Japanese yen at the end of last year to a historical high of 112,700 Japanese yen on June 22 this year.
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