Continued tensions between the US and Iran disrupt shipping in the Strait of Hormuz, causing daily rates for ultra-large crude oil tankers to soar to $510,000.

According to the Wall Street Journal, OpenAI informed investors that its second-quarter revenue increased by 18% compared to the first quarter, but its losses further widened. This outcome disappointed some shareholders who had expected the startup to make more progress in catching up with its competitor Anthropic. According to sources familiar with the matter, the company’s revenue for the three months ending in June reached $6.7 billion, compared to $5.7 billion in the first quarter. Meanwhil

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Anthropic is expected to launch its US IPO process within the next few weeks, with the company’s Q2 revenue more than doubling quarter-over-quarter. OpenAI has already informed investors that its Q2 revenue reached $6.7 billions and growth has accelerated in Q3. The company is also preparing for an IPO—expected to take place within weeks—but its revenue growth is lagging far behind Anthropic. (Wall Street Journal)