The AI race is a brutal one. On Thursday, Anthropic took the title of being the most valuable company. A Series H financing worth $65 billion set a $965 billion valuation for the firm.
Since February, Anthropic has campaigned with its agentic tools that compete with software (“SaaS”) offerings. That hurt companies like Adobe Systems (ADBE), ServiceNow (NOW), Zscaler (ZS), and Intuit (INTU). While cybersecurity firms like CrowdStrike (CRWD) rebounded, companies might cut their software subscriptions if AI tools offer better solutions.
Anthropic’s rise over OpenAI and its $852 billion valuation is a setback for Microsoft (MSFT). The Office software giant touted CoPilot, powered by OpenAI’s ChatGPT, as a reason to subscribe to the chatbot. Unfortunately, fewer than 5% of the corporations signed up.
Among the stocks to watch today, look out for Dell Technologies. It posted an 88% Y/Y growth in revenue, to $43.84 billion. That surpassed the expected revenue of $35.43 billion. Dell owed the growth to sales of AI server revenue, which grew 757% Y/Y to $16.1 billion.
Dell’s Client Solutions Group posted revenue of $14.6 billion, up by 17% Y/Y. The unit, which includes PC sales, is keeping up with that of HP Inc. (HPQ) and Lenovo (LNVGY).
Companies that posted quarterly results and should move today include UiPath (PATH), MongoDB (MDB), and Okta (OKTA).
