Anthropic is closing in on its first quarterly operating profit, a person familiar with the matter said, as its sales eclipse the enormous costs to develop and deploy artificial intelligence.

In recent fundraising materials, the San Francisco-based startup apprised investors that its June quarter sales could reach at least $10.9bn, more than double its $4.8bn in revenue for the just-ended March quarter, the person said.

That will propel its second-quarter operating profit to an expected $559m.

The Wall Street Journal reported the figures earlier on Wednesday.

Anthropic‘s financials underscore how demand for the lab’s Claude AI has jumped, as software developers use the technology to handle their computer programming and some enterprises deploy its top-shelf model Mythos to unearth vulnerabilities in their code.

The profit is rare for an AI industry that is grappling with the technology’s high costs.

One such expense, in the form of AI’s voracious demand for computing power, was also disclosed on Wednesday in the IPO filing of SpaceX, Elon Musk’s rival space and AI company.

SpaceX said Anthropic had agreed to pay it $1.25bn per month through May 2029, in deals for compute capacity that now include both of SpaceX’s AI training data center clusters, Colossus and Colossus II.

Either Anthropic or SpaceX can terminate the agreements with 90 days’ notice, and fees would be reduced during the capacity ramp-up this month and next, the filing said.

Musk posted on X that SpaceX was in discussions with other companies about “offering AI compute as a service at significant scale,” which would be a boost as its AI segment remains in the red.

SpaceX’s AI segment lost about $2.5bn from operations in the March quarter, on segment revenue of $818m, its IPO filing showed.

SpaceX took the wraps off its IPO filing on Wednesday, laying bare for investors just how much Elon Musk is losing on artificial intelligence while betting the company’s future on transforming the rocket maker into an AI powerhouse.

Much of its outlook relies on SpaceX dominating technologies and markets that do not yet exist – from Mars missions to AI data centers in space.

For many, Musk’s record turning Tesla into the most valuable auto company in the world and developing the world’s first fully reusable rocket and largest satellite network is enough to justify investment.

The filing cements Musk’s tight control of SpaceX while giving shareholders little say over his decisions. It shows just how central AI has become following the February purchase of xAI, which drove most of the company’s spending and a majority of its losses in the first quarter.

The listing could become the first US market debut above $1 trillion and would immediately make SpaceX one of the world’s most valuable publicly traded companies.

Of SpaceX‘s three divisions, only the connectivity segment powered by satellite internet unit Starlink was profitable in the first three months of the year.

While Starlink generated an operating profit of $1.19bn, it wasn’t enough to prevent the company from booking a total operating loss of $1.94bn in the first quarter on $4.69bn in revenue. Its AI division, alone, accounted for $2.47bn in losses on $818m in revenue.

Musk’s purchase of his social media and AI company xAI gave SpaceX new capabilities and opportunities but a staggering amount of spending, accounting for 76 per cent of its $10.1bn in capital spending in the first quarter, as well as fresh losses.

The company’s plans rely on technology that’s not yet been built for much of its future revenue stream, including operating data centers powered by solar power in space, to reach a potential market of $28.5tn, according to the filing.

SpaceX has grown into the world’s largest space business since its founding in 2002 by launching thousands of Starlink internet satellites. Its pioneering use of reusable rockets has transformed the economics of space, forcing competitors like Jeff Bezos’ Blue Origin to play catch-up.

A successful share sale could value the company at a record-setting $1.75tn, which would put its founder on track to become the first trillionaire in history. Musk will also retain 85.1 per cent of the combined voting power of the company, the filing showed.

Meta CEO Mark Zuckerberg told employees in an internal memo on Wednesday that he does not expect more company-wide layoffs this year, according to a copy of the memo seen by Reuters.

He made the announcement on the same day the Facebook owner carried out a massive restructuring of the company, laying off 10 per cent of its workforce globally (approximately 8,000 employees) and transferring 7,000 other employees to new initiatives related to AI workflows.

“I want to be clear that we do not expect other company-wide layoffs this year. I also want to acknowledge that we haven’t been as clear as we aspire to be in our communication, and that’s one area I want to make sure we improve,” he said in the memo.

Employees left comments on his post quoting the words “company-wide” and “expect.”

“Things sometimes go ‘unexpectedly,'” one person wrote.

A Meta spokesperson declined to comment on the update.

The changes are part of a far-reaching overhaul taking place at Meta this year, as the company surges its AI investments in a bid to center AI agents in both its product offerings and its approach to work internally.

In total, the layoffs and transfers announced this week are hitting about 20 per cent of the company’s workforce. Some of the transfers have already happened, while in other cases employees are being notified on Wednesday.

Ultimate Fighting Championship and Department of Culture and Tourism – Abu Dhabi have announced the return of UFC Fight Night Abu Dhabi, set to take place on Saturday, July 25, 2026, at Etihad Arena on Yas Island.

Tickets for UFC Fight Night Abu Dhabi are expected to go on sale soon, with fans encouraged to register interest through Visit Abu Dhabi to access ticket sales and exclusive hotel-and-ticket packages for international visitors.

The full fight card will be announced in the coming weeks. Abu Dhabi has become one of UFC’s most prominent global destinations, regularly hosting major fight events and attracting international audiences to the emirate.

The upcoming event continues the long-running partnership between UFC and Abu Dhabi, which began in 2010. During the COVID-19 pandemic, Abu Dhabi gained global attention after hosting the UFC Fight Island series, reinforcing the emirate’s role as a key international hub for combat sports and live entertainment.

In 2025, UFC Fight Night: Whittaker vs. De Ridder drew a packed crowd to Etihad Arena with a high-profile middleweight bout, while UFC 321: Aspinall vs. Gane headlined Abu Dhabi Showdown Week with a heavyweight clash.

Through its collaboration with DCT Abu Dhabi, UFC continues to expand its global network of government and private-sector partnerships, bringing large-scale sporting events to international markets while contributing to tourism, economic activity and fan engagement.

Britain said on Wednesday it had secured a trade deal with the Gulf Cooperation Council worth $5bn a year in the long run, deepening economic ties with allies in a region dealing with the fallout from the Iran war.

The deal with the GCC, which consists of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE, comes after US-Israeli strikes against Iran in February triggering Iranian attacks on other countries in the region, putting strain on energy and food supplies.

“At a time of increased instability, today’s announcement sends a clear signal of confidence – giving UK exporters the certainty they need to plan ahead,” Britain’s Trade Minister Peter Kyle said.

The British government said the deal would be worth £3.7bn ($4.96bn) each year in the long term, more than double a previous estimate that it would be worth £1.6bn, as the final deal went further on both trade liberalisation and service sector commitments than previously expected.

The deal will remove 93 per cent of GCC tariffs on British goods, equivalent to the removal of £580m worth of tariffs by the deal’s tenth year, with two-thirds of the tariffs being removed as soon as the deal comes into force.

The government said that autos, aerospace, electronics and food and drink would be among the sectors to benefit, with cereals, cheddar cheese, chocolate and butter all becoming tariff-free.

In return, Britain has lowered tariffs to the GCC, though the countries’ main exports to Britain, oil and gas, are already tariff-free.