00:00As investors navigate an increasingly uncertain market environment,
00:04corporate earnings and company updates remain key indicators of business health and future prospects.
00:11Here's a round-out of the latest corporate developments from overnight
00:14that could help shape your investment decisions today.
00:19Anthropic and Elon Musk have laid out sharply different blueprints
00:23for sharing some of the spoils of the AI boom,
00:26a split that may shape how the technology's financial windfall reaches the public.
00:31The creator of Cloud Models said over the weekend
00:34it is committing 5% of its shares to an unprecedented new fund for the public good,
00:39while Musk pledged on Monday to give one SpaceX share to every kid in America,
00:45arguing for such direct distributions as the bargaining sector faces public scrutiny.
00:52Security breaches involving AI systems and warning from industry leaders
00:56that runaway development of the technology could pose severe,
01:00even existential risks have deepened AI safety concerns,
01:04adding to public anxiety over job losses.
01:07While Anthropic is betting on distributing wealth through non-profit donations
01:11and direct contributions to specific populations,
01:14Musk, the world's richest person with a net worth of nearly US$1 trillion,
01:19has said he recommends giving the shares directly to the public.
01:23Anthropic said its initials will give it more flexibility and skill.
01:29To make donations for the benefit of humanity,
01:32the company is planning one of the biggest IPOs in history as a public benefit corporation,
01:38a legal structure that requires management to balance broader public interest with profitability goals.
01:45U.S. Transportation Secretary Sean Duffy is expected to announce on Tuesday
01:50that the Federal Aviation Administration has approved the Boeing 737 MAX-10
01:54during a visit to Washington State, sources briefed on the plans, told Reuters.
01:59Duffy is set to appear on Tuesday at the Boeing factory in Everett, Washington,
02:04to tout the FAA certification of the long-delayed larger variant of Boeing's best-selling airplane.
02:11Boeing in July opened a new line of the Everett plant
02:15to expand 737 MAX production, which it also assembles in Renton.
02:20Boeing referred questions to the FAA, which did not immediately comment.
02:25The FAA on Friday conducted a review by the type certification board,
02:29which is made up of FAA management team members,
02:33in a final step before the agency decides on certification.
02:36Airlines have ordered nearly 1,500 MAX-10s,
02:41and the model accounts for more than 30% of Boeing's outstanding 737 backlog.
02:46The planemaker has already built a handful of MAX-10s awaiting delivery.
02:52Netflix investors are expecting details on how the streaming giant plans to sustain growth
02:58when it reports third-quarter results on Tuesday as competition intensifies
03:03and users' engagement shows signs of fatigue.
03:07Ted Sarandos, the co-CEO of Netflix, recently admitted the company is not growing as fast as he wants it
03:13to be
03:14and suggested live programming could be an opportunity to slurid growth.
03:18The streamer is contending with the fundamental shift in entertainment
03:22as low-cost creator-led video cheap-away at premium scripted content.
03:27YouTube, the dominant streaming platform in the US,
03:30has nearly doubled the viewing time of Netflix and continues to gain market share,
03:35according to Nelson.
03:36Netflix is expected to post its slowest third-quarter revenue growth in three years
03:41with sales forecast to increase 11.8% to $12.87 billion,
03:47according to data compiled by LSEG.
03:50It cut about 6% of its workforce in a move that analyst Rose Bennis in the e-marketer seat
03:57reflected the streaming industry's shift to profitability.
