ANT heads to Wall Street 🐜

Tesla’s India test, a Polish kinship, and Hollywood drama beyond the sets.

🗓️ Morning, folks! ☀️

Two major elections delivered political updates over the weekend.

In Brazil, President Lula secured a fourth term after defeating Flávio Bolsonaro, an ally of US President Donald Trump. However, the opposition candidate has refused to concede and plans to challenge the result.

Meanwhile, in Serbia, a student-backed group emerged victorious in the parliamentary election, defeating Aleksandar Vučić’s ruling party.

Coming back to business, this Monday was greener for the markets. Both the Sensex and Nifty ended over 0.6% higher.

The Nifty Bank recovered to end in positive territory. IT stocks rebounded during the session, with Coforge jumping nearly 5%.

Barring Nifty Media and Nifty Consumer Durables, all major sectoral indices closed in positive territory. So, a good day for the bulls!

💡 Spotlight: Claude, calm down ✋

AI is helping us work faster. Sure. But it can also do things nobody asked it to do. And that’s the scary part.

What happened: Anthropic says its AI model, Claude, bypassed a payment requirement to access summary voter counts from the US state of Georgia without human authorisation.

It was gathering data for a statistics project. Anthropic says it did not access individual voter records, change voting records or enter the voter registration system.

How did it get in: Claude found a loophole in an older version of the agency’s website. It requested a digital access pass, called a token, and used it to reach the data.

Separately, the US State Department said an Anthropic model had filed 19 visa applications in August.

The White House’s newly formed Super Intelligence Force is requiring AI companies to report security incidents involving their technology.

Let’s hit it! 💪🏻

1 Big Thing: Wall Street catches the ANT 🐜

It’s rare to see two completely opposite stories about the same company on the same day. While Claude landed in trouble for bypassing a paywall, its parent Anthropic was busy preparing for Wall Street.

Okay, three important things:

Anthropic filed papers on Monday for an IPO.
This could become the biggest initial public offering of stock ever.
This comes at a time when its top executives are warning that advanced AI could pose an existential threat to humanity.

All about ANT on Nasdaq: Anthropic, the five-year-old company behind the Claude AI assistant, has filed to list its shares on the Nasdaq Global Select Market under the ticker “ANT.”

The filing does not mean the IPO is confirmed. The company is yet to reveal how many shares it will sell, the final price or exactly how much money it wants to raise.

But reports suggest the company could target a valuation of between $1.5 trillion and $2 trillion, while raising as much as $100 billion.

If that happens, Anthropic could overtake SpaceX’s record-breaking $86 billion IPO and pull off the largest stock-market debut ever.

Numbers: for the first six months of 2026, the company reported:

Revenue at $16.3 billion, up from $1.2 billion a year earlier
Operating loss at $693 million, down from $2.1 billion
Net loss at $80.7 billion, compared with $13 billion last year

That final number needs some explaining:-

Anthropic did not simply burn through $80.7 billion in cash over six months. Around $72 billion of the loss reportedly came from an accounting adjustment linked to bonds that can later be converted into shares.

The IPO is expected to contain two kinds of shares. First, Anthropic will issue new shares. Money raised from those shares will go to the company.

Second, some founders, employees and early investors will sell shares they already own. Money from those sales will go to the sellers, not Anthropic.

Its seven founders collectively own nearly 500 million shares, although the filing does not yet show exactly what percentage of the listed company that stake will represent.

2. Tesla is riding a slippery slope 🚘

Tesla India’s revenue jumped to ₹247.3 crore in FY26, its first year of selling cars in the country.

Tesla registered 346 cars between September 2025 and March 2026. Registrations then rose to 650 in the first six months of FY27.

In FY25, its ₹20.8 crore revenue came entirely from services. The jump followed Tesla’s Model Y launch in India in July 2025, alongside the opening of its first showroom in Mumbai.

Making sense of the numbers:

operating profit nearly quintupled to ₹13.7 crore.
net profit rose from ₹60 lakh to ₹5.2 crore.
operating margin fell from 13.7% to 5.5%, meaning it kept less operating profit from every rupee earned.
expenses surged to ₹240 crore, including ₹143.4 crore spent on goods and ₹43.7 crore on employees.

Why India matters: the country’s EV market is growing fast, with 26.6 lakh electric vehicles sold in FY26, nearly 30% more than the previous year.

Government incentives, lower running costs and a growing charging network are helping drive adoption. The PM E-DRIVE scheme has also allocated ₹2,000 crore towards public EV charging infrastructure.

While we are on earnings 💰,

Shares of Apollo Micro Systems rose nearly 10% after the company reported strong Q2 results.

By the numbers:

Net profit: jumped 53.3% to ₹46 crore, up from ₹30 crore a year ago.
Revenue: up 72.4% to ₹388 crore vs ₹225 crore in the same quarter last year.
Operating profit (EBITDA): rose 88.1% to ₹111 crore, up from ₹59 crore.
Margin improved to 28.6% from 26%, meaning it earned more profit from its operations for every ₹100 of revenue.

In other news, India’s Defence Acquisition Council has approved acquisition proposals worth ₹2.12 lakh crore for the Army, Navy and Air Force.

3. Poland’s drone giant picks India for take-off 🚀

Poland’s largest private defence company, WB Group, plans to invest around $100 million over the next five years to manufacture military drones in India.

Why India: recent conflicts have shown that relatively small drones can track enemy movements, attack vehicles and carry out missions without risking a pilot’s life.

India is therefore buying more unmanned systems while also asking global defence companies to manufacture locally.

More details: the company has already acquired space in the Uttar Pradesh Defence Industrial Corridor, where it plans to establish manufacturing and research facilities.

The company says its unmanned systems have been used extensively by Ukraine since 2014.

WB Group claims it stopped counting its equipment’s flying time after it crossed one million hours.

3:55 PM · Oct 22, 2026 · 12.3K Views11 Reposts · 34 Likes

Bengaluru-based Ultrahuman redesigned its smart ring to return to the US market after losing a patent battle against Oura last year. But its comeback has hit another legal hurdle.

On 22nd October, Oura filed a fresh lawsuit alleging that Ultrahuman’s new Ring Pro infringes two patents, including one granted just two days earlier. Oura now wants damages and a permanent ban on US sales.

The stakes are high. Ultrahuman recently raised $70 million at a reported valuation of $365 million, and America accounts for roughly 45% of its quarterly revenue. Another sales restriction could disrupt its largest market.

Paramount has completed its $110 billion acquisition of Warner Bros. Discovery, bringing HBO, CNN, CBS and some of Hollywood’s biggest franchises under one roof.

But the newly formed entertainment giant, Skydance, has inherited an estimated $84 billion in net debt. Management now plans to save at least $6 billion annually within three years, raising concerns about restructuring.

There’s another catch. Under a regulatory settlement, the company must release at least 30 films annually, even as it tries to reduce expenses.

Read Here

6. Stocks that kept us interested 🚀

What went up ⬆️

💊 Dr Reddy’s Laboratories was the top Nifty gainer, rising nearly 7% after reporting strong second-quarter results and receiving a positive brokerage note.

🛵 Ather Energy jumped 14% after reporting strong second-quarter results and turning EBITDA-positive.

📊 Kotak Mahindra Bank, Aditya Birla Real Estate, ITC Hotels and Indian Overseas Bank gained up to 6% after reporting quarterly earnings.

⛏️ Bharat Coking Coal rose over 4% after returning to profit in Q2.

🧪 Tata Chem rose over 3% after Kenya’s High Court said it lacked jurisdiction over the dispute involving its Magadi unit.

🖥️ E2E Networks gained 5% after proposing a capacity expansion of approximately 5.4 MW for NVIDIA HGX B300 systems and other GPUs.

What went down ⬇️

📉 Shriram Finance was the biggest laggard on Nifty, falling nearly 5% after cutting its assets under management guidance.

🏦 AU Small Finance Bank slipped 7% after flagging margin pressure post Q2 results.

🫤 Ramco Systems fell nearly 5% following weak Q2 results.

What else are we snackin’ 🍿

✈️ Name change: Raymond approved renaming the company to Raymond Aerospace & Defence Engineering, reflecting its focus on the aerospace and defence sectors.

🤝 Nokia deal: L&T Technology Services signed a five-year agreement with Nokia to provide R&D support in India.

💊 Global expansion: Biocon secured additional global market access for Yesintek, its biosimilar used to treat Crohn’s disease, ulcerative colitis, psoriasis and psoriatic arthritis.

🥳 Deep pockets: Matiks raised $10 million led by General Catalyst to expand globally, develop games and launch an AI-powered, no-code game platform.

That’s a wrap! Don’t let the weekday blues get to you.

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Disclaimer: this newsletter is for informational and research purposes only. Nothing here should be considered financial, investment, legal, or professional advice.