The AI gold rush is running into a reality check, and the pressure is beginning to show across technology and crypto.

Anthropic’s much-anticipated Nasdaq debut is facing a tougher road after a week of market jitters over the cost of the AI boom. Its prospectus has impressed investors with reported annual sales growth of 1,300%, but its substantial computing commitments and losses have raised questions about whether surging demand can translate into a sustainable business. 

Earnings from key partners Microsoft, Google and Amazon have added to the uncertainty, with massive infrastructure spending weighing on cash flow, even as cloud growth remains strong. Investors are now weighing the opportunity against the risks, just as Anthropic prepares for a potentially record-setting IPO.

The nerves have also reached OpenAI. According to The Financial Times, the ChatGPT maker has cut its latest funding target by $10 billion to around $20 billion, while lowering its desired valuation to $1.25 trillion from $1.4 trillion. The move comes amid a technology sell-off, with investors becoming more cautious about the huge sums being poured into AI.

Meanwhile, crypto has its own security headache. Following a reported $6.3 billion hack at Binance, rival exchanges including Coinbase and Kraken are strengthening their defences. Executives are also calling for faster information-sharing and coordinated responses, as the industry faces growing pressure to prove it can protect customers and stolen assets.

Here’s your trivia for today: What was Google’s search engine originally called? (Scroll down for the answer)

TVS Capital has launched TVS Alts, a private-credit platform targeting Rs 750 crore, with a green-shoe option lifting its potential corpus to Rs 1,250 crore.

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