Weekly Business Updates: Everything from Claude’s Meteoric Rise to Mango’s Leadership Crisis

Anthropic Surpasses OpenAI With Massive $65 Billion Funding Round

The artificial intelligence race has entered a new phase. Anthropic, the company behind Claude AI, has become the world’s most valuable AI startup after raising an astonishing $65 billion in fresh funding. The investment has pushed the company’s valuation to nearly $965 billion, allowing it to overtake OpenAI, the creator of ChatGPT. The funding round ranks among the largest private investments in technology history and underscores investor confidence in AI’s long-term potential. As enterprises increasingly adopt AI across industries, Anthropic’s rise highlights how quickly leadership positions can shift in one of the world’s fastest-growing technology sectors.

$500 Million AI Bill Exposes Corporate Governance Risks

While AI promises enormous productivity gains, one shocking incident has highlighted the dangers of unchecked adoption. An AI consultant recently revealed that a large enterprise accumulated a staggering $500 million bill in a single month on Anthropic’s Claude platform after failing to establish spending controls. The revelation has sent shockwaves through boardrooms and technology teams worldwide. As businesses rush to deploy AI tools across coding, customer service, operations, and research, experts warn that governance frameworks are struggling to keep pace. The incident serves as a costly reminder that AI adoption requires not only innovation but also robust financial oversight and usage monitoring.

Slice Small Finance Bank Reports First-Ever Annual Profit

India’s fintech sector achieved a significant milestone as Slice Small Finance Bank reported its first full-year profit since becoming a regulated banking entity. The Bengaluru-based digital-first lender posted a net profit of Rs 48.4 crore in FY26, compared to a loss of Rs 217 crore in FY25. The turnaround reflects the company’s improving operational efficiency and growing banking franchise. Slice has focused on expanding its lending portfolio, strengthening deposit mobilisation, and building digital banking products for younger consumers. The achievement demonstrates how fintech companies can successfully transition from startup-driven growth models to sustainable and regulated banking operations.

PhysicsWallah Narrows Losses Despite Quarterly Setback

Edtech major PhysicsWallah continued its march toward profitability despite reporting a net loss of Rs 69.1 crore in the fourth quarter of FY26. Although the company had posted a profit in the previous quarter, renewed investments in growth and expansion pushed it back into the red. However, the broader picture remains encouraging. PhysicsWallah reduced its annual losses by nearly 90%, bringing them down to Rs 24.3 crore in FY26 from Rs 243.3 crore a year earlier. The sharp improvement highlights the company’s ability to scale while controlling costs, reinforcing confidence in its long-term business model and profitability ambitions.

MiniMax Faces Major Copyright Battle in US Court

A California federal court has dealt a setback to Chinese AI startup MiniMax by rejecting its attempt to dismiss a copyright lawsuit filed by Disney, Universal, and Warner Bros. Discovery. The entertainment giants allege that MiniMax trained its Hailuo AI image and video generation platform using copyrighted material from major franchises, including Marvel and Star Wars, without authorization. The studios also claim the company marketed Hailuo as a “Hollywood studio in your pocket,” encouraging users to generate studio-style content. The case could become a landmark legal battle that shapes how AI companies use copyrighted content in training future models.

Mango Heir Denies Allegations Linked to Founder’s Death

The family behind global fashion retailer Mango is confronting a period of intense scrutiny. Jonathan Andic, son of Mango founder Isak Andic, has publicly rejected allegations linking him to his father’s death, describing the claims as serious, unjust, and unfounded. In an emotional letter to employees, the 45-year-old executive said recent public narratives had distorted the facts surrounding the case. He also announced his decision to step down as vice chairman of Mango’s board to focus on his legal defence. The controversy has cast a shadow over one of Europe’s most successful fashion businesses during a sensitive period for the company.