Daily brief, November 11: Anthropic IPO, Nvidia and TikTok

A giant IPO takes shape, a CEO faces an internal investigation and Brussels takes on TikTok's algorithm: here's what mattered this Wednesday, November 11.

Anthropic sets the price for its IPO

On November 10, Anthropic, the company behind Claude, set a range of $70 to $78 per share for its Nasdaq debut, under the ticker "ANT." It's offering 825 million shares, which would raise up to $64.35 billion. At the top of the range, it would be worth about $1,400 billion, compared with $965 billion at its May funding round. According to CNBC's sources, the final price would be set on November 18 and trading would start on the 19th. Over nine months, it brought in $33.24 billion in revenue, with a net loss of $104 billion, mostly on paper. What stands out is the price the market is willing to pay for an AI company that still loses money. Source: CNBC

Brussels takes issue with TikTok's "For You" feed

In a preliminary finding, the European Commission says TikTok may have broken the EU's Digital Services Act (DSA), French tech outlet Siècle Digital reported on November 9. The target is the "For You" feed, which can trap users in spirals of recommendations that harm mental health, especially for minors. Brussels wants the app to respect the preferences you express, like a topic marked "not interested," and to stop relying on watch time to line up similar videos. TikTok disputes the findings. The fine could reach 6% of its global revenue. If you scroll every day, it's the very mechanics of your feed that are on the line. Source: Siècle Digital

Fossil emissions dip in 2026, but total CO2 still hits a record

According to the Global Carbon Budget, published on November 10, CO2 emissions from fossil fuels are expected to fall 0.4% in 2026, to 38.2 billion tons. China (−0.9%), the United States (−1.3%) and the European Union (−1.5%) are down, while India is up 4.4%. Deforestation and land use are rising again (5.1 billion tons), so the total reaches a record 43.3 billion tons. Only about 150 billion tons are left to emit if warming is to be limited to 1.5 °C, less than four years at the current pace. So solar power and electric cars are starting to make a dent, but felled forests are wiping out that gain. Source: ScienceDaily

Nvidia hands an investigation into Jensen Huang to a law firm

On Sunday, November 8, Nvidia CEO Jensen Huang admitted to an affair with Alice Huang, an executive linked to Nvidia customer Megaspeed, in an email to employees. According to the New York Times and the Financial Times, US intelligence agencies suspect her of passing information to Beijing; nothing has been established at this stage. On November 10, the independent board members tasked the law firm Wachtell Lipton with checking whether company secrets or national security were compromised. The stock lost more than 4% on Monday, then 6% on Tuesday. Nvidia makes the chips that run ChatGPT, Claude and Gemini, which explains the concern in Washington. Source: CNBC

ChatGPT launches business profiles

On November 10, OpenAI launched a "Business Hub" in ChatGPT, in beta, which looks a lot like Google's business listings. A company can claim its profile after verification, correct the information about its products and track a few stats: views, mentions in answers, clicks to its website. Eligible businesses can also set up their own agent, which answers users' questions about their products. OpenAI hasn't detailed its verification methods. So when you ask ChatGPT about a store or a service, part of the answer will come from information managed by the company itself. Source: TechCrunch

Meta expands its AI age detection worldwide

After the United States, Meta is rolling out its system for spotting teens who entered a fake birth date to the rest of the world, Siècle Digital reported on November 10. It's live on Instagram worldwide, is gradually coming to Facebook and should reach Threads before the end of the year. The AI analyzes clues in profiles: birthday messages, mentions of a high school, photos and videos. Meta says it estimates age without facial recognition. A 13- to 17-year-old who gets flagged is moved to a more restricted teen account; an under-13 can have their account deactivated if they can't prove their age. Meta doesn't publish any error rate. Source: Siècle Digital

EPR2: Paris and Brussels still without a deal

EDF, France's main electricity supplier, has to make its final investment decision before the end of 2026 on six EPR2 reactors, a project estimated at €72 billion in 2020. First it needs the European Commission's green light on state aid: a subsidized loan covering 60% of construction costs, a contract guaranteeing revenue for 40 years and risk sharing. Brussels, which has opened an in-depth investigation, fears strengthening EDF, which already produces about 75% of France's electricity, French energy site Révolution Énergétique reported on November 11. It is reportedly asking that other suppliers be able to buy part of the output. These conditions will decide who benefits from this nuclear power, and at what price. Source: Révolution Énergétique