Anthropic Finalizing $15 Billion Pre-IPO Credit Facility

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Nathan Hager and Caroline Hepker-Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses Anthropic being set to finalize an expansion of its revolving credit facility to $15 billion, according to people familiar with the matter, before the artificial intelligence firm’s public filing for its highly anticipated IPO. Morgan Stanley is leading the process, with Goldman Sachs Group Inc. and JPMorgan Chase & Co. also having prominent roles on the facility, along with Citigroup Inc.-Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, discusses leadership changes at Adobe. Adobe Inc. named Anil Chakravarthy as its next chief executive officer, with Chakravarthy moving into the post on Dec. CEO Shantanu Narayen will become executive chair, and David Wadhwani, who ran Adobe’s creative business, will leave the company. The selection of Chakravarthy comes as Adobe faces increasing questions about whether it will be toppled from its post in the age of AI, with generative AI making it easier to produce visual media without Adobe’s expensive products.-Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, discusses Lululemon earnings. Lululemon Athletica Inc. lowered its full-year outlook for a second straight quarter, with sales now projected to be in a range of $10.35 billion to $10.5 billion. The company reported its first decline in comparable sales since the pandemic and trimmed its outlook for earnings per share, with shares of Lululemon tumbling 19.5% in New York.-Craig Trudell, Bloomberg Managing Editor of Global Business Coverage, discusses the latest at Volkswagen. Volkswagen AG's supervisory board backed a restructuring that calls for 50,000 additional job cuts and a smaller industrial footprint. The measures approved include slimming the vehicle lineup by as much as half by 2035 and tightening investment, with €135 billion of capital expenditure and research and development spending over 2027 through 2031. See omnystudio.com/listener for privacy information.