Elon Musk publicly reversed his earlier skepticism of Anthropic on July 9, acknowledging the artificial intelligence company as the current industry leader in a statement that has drawn attention to Amazon’s deepening commercial and financial ties with the Claude model developer.

Responding on X to a post recalling his September 2025 comment that winning was never among Anthropic’s possible outcomes, Musk wrote: “I was clearly wrong about Anthropic. They are obviously currently the leader in AI. No company has released a model as good as Mythos/Fable and they will undoubtedly have Mythos 2 ready soon. And I would never cut them off in a way that hurt them badly, even as a competitor. That’s not my style.”

The admission came months after Musk had sharply criticized Anthropic, at times describing the company in negative terms. It followed the release of Anthropic’s advanced Claude Mythos and Fable models, which Musk singled out as unmatched by rivals at the time.

Amazon has positioned itself as a primary infrastructure and equity partner for Anthropic. The companies expanded their collaboration in April 2026, with Amazon investing an additional $5 billion and holding the potential to invest up to another $20 billion tied to commercial milestones. Combined with prior investments totaling about $8 billion, Amazon’s direct capital commitment stands at roughly $13 billion so far, with a pathway toward a larger total.

In return, Anthropic committed to spend more than $100 billion over the next decade on Amazon Web Services technologies. That agreement includes access to up to 5 gigawatts of capacity using current and future generations of Amazon’s custom Trainium AI chips and Graviton processors. Anthropic will use the capacity to train and run its large language models, with meaningful Trainium capacity already scheduled to come online.

Amazon CEO Andy Jassy said in the companies’ joint announcement: “Our custom AI silicon offers high performance at significantly lower cost for customers, which is why it’s in such hot demand. Anthropic’s commitment to run its large language models on AWS Trainium for the next decade reflects the progress we’ve made together on custom silicon, as we continue delivering the technology and infrastructure our customers need to build with generative AI.”

The partnership has contributed to strong recent results at Amazon’s cloud division. In the second quarter of 2026, AWS net sales rose 37 percent year over year to $42.2 billion, marking the segment’s fastest growth in 18 quarters and placing it on an annualized revenue run rate of approximately $169 billion. Amazon separately noted that its AWS AI business had exceeded a $25 billion annualized run rate and was expanding at triple-digit percentages. Companywide net sales reached $200.6 billion in the quarter, while operating income climbed to $27.5 billion. Net income was elevated by non-operating gains tied in large part to the revaluation of Amazon’s Anthropic investment.

Anthropic itself has reported rapid revenue expansion. The company disclosed an annualized revenue run rate that surpassed $47 billion by May 2026, up sharply from levels near the end of 2025. Independent estimates later placed the figure higher as enterprise adoption of tools such as Claude Code accelerated. In May, Anthropic closed a $65 billion Series H funding round that valued the company at $965 billion post-money. It has filed a confidential draft registration statement with the Securities and Exchange Commission and is widely expected to pursue a public listing later in 2026, with some market participants pointing to a possible autumn window.

Amazon’s equity stake in Anthropic, estimated by various reports in the mid-to-high teens percentage range, has been marked substantially higher on the company’s books as private valuations rose. The combination of the equity position and the long-term cloud spending commitment creates dual exposure for Amazon shareholders to Anthropic’s trajectory—one through potential mark-to-market gains or eventual IPO proceeds, and the other through sustained high-margin infrastructure revenue at AWS.

The competitive AI landscape remains fluid. OpenAI continues to report strong growth, with its own annualized revenue run rate exceeding $40 billion in recent updates, while other players expand compute capacity and model capabilities. Anthropic has diversified its infrastructure relationships, including agreements involving Google’s TPUs and capacity from other providers, even as AWS remains a primary training and deployment partner.

For Amazon, the Anthropic relationship reinforces the strategic importance of custom silicon and large-scale AI infrastructure. Management has previously outlined a long-term vision in which AWS could eventually reach $1 trillion in annual revenue, a goal that would require sustained multiyear expansion of both capacity and customer demand. The multi-gigawatt, multi-decade commitment from a leading model developer provides one concrete illustration of that potential demand.

Musk’s public acknowledgment of Anthropic’s progress arrives at a moment when private-market valuations for frontier AI companies have reached extraordinary levels and public-market investors are closely tracking the contribution of generative AI to hyperscaler growth rates. Whether Anthropic maintains its reported lead in model quality and monetization, and whether the associated cloud spending materializes on the projected scale, will influence both the company’s eventual public valuation and the returns Amazon realizes from its dual role as investor and infrastructure supplier.

As of mid-August 2026, Amazon shares traded near $263, reflecting a market capitalization of roughly $2.8 trillion. The company’s cloud business continues to accelerate even as capital expenditures remain elevated to support AI demand. The partnership with Anthropic stands as one of the more visible examples of how large technology firms are aligning equity capital, custom hardware and long-term cloud contracts with the fastest-growing participants in the generative AI sector.

Apple has officially classified the iPhone X as “obsolete,” the company’s strictest product-lifecycle designation, ending all hardware service and repair availability for a device that helped define the modern smartphone era when it launched nearly nine years ago.

Apple made the update this week to its “Obtaining service for your Apple product after an expired warranty” support page, moving the iPhone X from its “vintage” products list to its “obsolete” list. The 15-inch 2018 MacBook Pro received the same reclassification in the same update, according to 9to5Mac, which first reported the change.

The iPhone X launched in November 2017 and was pulled from sale in September 2018, after roughly 10 months on the market. Under Apple’s product lifecycle policy, devices generally move from “vintage” to “obsolete” status more than seven years after the company stops distributing them, though the exact timing of that reclassification is ultimately left to Apple’s discretion.

Once a product reaches obsolete status, Apple and its network of Apple Authorized Service Providers stop offering hardware repairs for it entirely, and service providers are no longer permitted to order replacement parts, regardless of whether a customer is willing to pay out of pocket for repairs. That stands in contrast to Apple’s “vintage” designation, a category the iPhone X had held since being off the market for more than five years, under which repairs remain available only on a best-effort basis, contingent on whether parts happen to still be in stock.

The iPhone X holds a significant place in Apple’s product history as the device that introduced Face ID, the company’s facial recognition security system, and the first iPhone to feature an OLED display. Its release also marked the end of Touch ID and the home button on Apple’s flagship phones, replaced instead by an edge-to-edge screen interrupted only by a notch housing the front camera and sensor array needed for Face ID. The device also introduced the glass-back, stainless-steel-frame design language that carried forward into several subsequent iPhone generations.

Beyond the loss of hardware support, the iPhone X had already been cut off from Apple’s latest software updates well before this week’s reclassification. The device lost eligibility for new operating system updates with the release of iOS 17, leaving it capped at iOS 16.7.16, meaning any iPhone X still in active use has not received new features or the latest security patches in several years.

Apple’s vintage and obsolete products list functions as a continuously updated internal record the company uses to communicate which devices remain eligible for various tiers of support. Products typically move onto the vintage list once Apple has stopped selling them for somewhere between five and seven years, entering the obsolete category only after that seven-year threshold has passed. The system applies broadly across Apple’s hardware lineup, covering iPhones, iPads, Macs, Apple Watches and other accessories as each product ages out of the company’s active support window.

The iPhone X is not the only notable device recently added to Apple’s obsolete or vintage lists. Earlier this year, Apple added the iPhone X, the first-generation HomePod smart speaker and the first-generation AirPods to its vintage list simultaneously, signaling that all three products had crossed the five-year mark since their respective discontinuation dates. Industry observers tracking Apple’s device lifecycle policies have said additional products are expected to shift categories in the coming months, including older iPad Pro and Apple Watch models that are approaching similar age thresholds.

The reclassification has renewed familiar criticism of Apple’s approach to long-term device support, an issue that has periodically drawn scrutiny from right-to-repair advocates and environmental groups concerned about electronic waste. Critics have argued that cutting off official parts availability and repair access can effectively force consumers into upgrading to newer devices even when an older phone might otherwise remain functional, a dynamic sometimes described in broader terms as planned obsolescence.

For the relatively small number of iPhone X units still in active daily use nearly nine years after launch, Wednesday’s change means owners facing a hardware failure, such as a cracked screen, failing battery or malfunctioning charging port, will no longer have access to official Apple or Apple Authorized Service Provider repairs. Owners in that position will instead need to rely on independent, third-party repair shops if they wish to keep an aging iPhone X functional, or make the decision to retire the device entirely in favor of a newer model.

Apple has not issued any additional public statement beyond the routine, unannounced update to its support documentation, consistent with the company’s longstanding practice of updating its vintage and obsolete lists quietly, without press releases or advance notice, as older devices continue to age out of its official support structure over time.

ASEAN’s commitment to net-zero is crucial for global environmental targets, despite its current fossil fuel dependency. The region faces an energy crisis but has strong decarbonization goals. With abundant renewable resources and raw materials for clean energy, ASEAN can transition by reforming policies, dismantling fossil fuel subsidies, and attracting investment. International support is vital to ease the financial burden.

Abstract

By embracing clean energy, ASEAN can achieve sustainable growth and contribute significantly to meeting the Paris Agreement goals, transforming current challenges into long-term prosperity and a healthier planet.

• The actions of the Association of South East Asian Nations (ASEAN) will be critical to meeting global environmental targets.
• The region is still heavily dependent on fossil fuels, but states are committed to achieving net zero.
• The international community needs to support states in making that transition.

We are in the midst of an energy crisis the likes of which we haven’t seen since the 1970s. The decisions leaders make now about decarbonization will determine our collective future. Get it right, and we can transform short-term upheaval into long-term sustainability. Get it wrong, and we will struggle to meet our environmental targets, specifically the Paris Agreement target of global carbon emissions reaching net zero by 2050.

The Association of South East Asian Nations (ASEAN) is South-East Asia’s regional trading and political bloc. Its actions are vitally important to how we get through this crisis, and could be a deciding factor in humanity’s future. ASEAN is the world’s fourth-largest energy consumer. Its current energy structure is skewed towards traditional forms of power generation, with fossil fuels making up 83% of its energy mix, and energy demand is expected to increase.

This means that the energy crisis has disproportionately affected the bloc, exposing ASEAN member countries to increasing economic, energy security and geopolitical risks. The conundrum that the bloc’s leaders now face is how to secure energy supplies to develop the region’s economies, while also decarbonizing them.

The good news is that many of ASEAN’s 10 member states show a strong commitment to achieving net zero by 2050. Only the Philippines has not yet committed to net zero by 2050, while Indonesia has set a target of 2060. All forecasts – and just the sheer practicalities of such a large transition – suggest achieving net zero won’t be easy. There is no one solution, and each country will have to pursue its own policies, depending on its priorities. A major shift away from the emissions generated by coal power generation sits at the center of change, the step change in efficiency and deployment of low carbon technologies can complement the transition.

ASEAN is also rich in the raw materials required for clean energy products. These include bauxite, nickel, tin and rare earth elements, which can variously be found throughout the region, particularly Indonesia, Myanmar, the Philippines and Thailand. In addition, Malaysia and Viet Nam are among the world’s largest solar modules’ makers.

To capitalise on these – and other – advantages, ASEAN’s leaders will have to show an unwavering commitment to supporting and funding the green agenda. Investors will be looking for energy sector reform, including the dismantling of fossil fuel subsidies, and a hospitable investment and regulatory climate. This is important because international support and external investment will reduce some of the financial burden and risk that comes with developing and scaling up new technologies. This is emerging, as evidenced by the arrangements other countries are making with those ASEAN states that are piloting green hydrogen systems for power provision.

As the recent COP27 meeting underlined, those nations that have the means to invest in, and support, emerging economies in their policies to accelerate the energy transition should do so. Equity and justice are becoming interwoven into climate action, along with help to develop and implement clean energy policy and mobilize finance for clean energy schemes.

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Around 12 equity mutual funds have delivered over 40% return since the last independence day, an analysis of the performance showed. There were nearly 570 equity funds in the said time period including sectoral and thematic funds.

A further analysis of the data showed that the top 15 funds in the list were international funds indicating an outperformance over the domestic funds.

Nippon India Taiwan Equity Fund, the only fund delivering a three digit return, offered 140.91% return since the last independence day celebrated in 2025. DSP World Mining Overseas Equity Omni FoF delivered a return of 75.72% in the said time period.

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ICICI Pru Strategic Metal and Energy Equity FoF and Motilal Oswal Nasdaq 100 FOF delivered 68.68% and 60.46% returns respectively in the said time period. The next two funds were from Mirae Asset Mutual Fund.

Mirae Asset Global X Artificial Intelligence & Technology ETF FoF and Mirae Asset Global Electric & Autonomous Vehicles Equity Passive FOF delivered 55.28% and 54.01% returns respectively in the said time period.
The next two funds were based on emerging markets themes. Edelweiss Emerging Markets Opp Eq. Offshore Fund and HSBC Global Emerging Markets Fund gave 53.94% and 51.85% returns respectively since the last independence day.DSP Global Clean Energy Overseas Equity Omni FoF gave 48.36% returns since August 15, 2025. This was followed by Kotak Global Emerging Market Overseas Equity Omni FOF who posted a gain of 45.73% in the said time period.

The other two funds were – Franklin Asian Equity Fund and DSP US Specific Equity Omni FoF who posted a gain of 41.90% and 40.33% respectively in the said time period.

Other funds in list

Invesco India – Invesco Pan European Equity FoF posted a gain of 39.57% in the said time period. Edelweiss Greater China Equity Off-shore Fund delivered a return of 39% since the last independence day.

Axis Greater China Equity FoF posted a gain of 34.23% since last independence day. TRUSTMF Small Cap Fund topped the return chart, emerging as the first diversified equity fund on the list after sectoral, thematic and international funds. This small cap fund delivered a return of 31.98% since the last independence day.

HDFC Defence Fund, the only actively managed fund based on the defence sector, posted a gain of 30.36% since August 15, 2025. Mirae Asset NYSE FANG+ETF FoF delivered 29.63% since the last independence day.

Two funds from Kotak Mutual Fund – Kotak Manufacture in India Fund and Kotak Special Opportunities Fund – posted a gain of 22.13% and 22.12% respectively since the last independence day.

Helios Mid Cap Fund delivered a return of 16.51% in the said time period. Quant Small Cap Fund delivered a return of 15.12% in the said time period.

Two funds from Quant Mutual Fund – Quant Large & Mid Cap Fund and Quant Infrastructure Fund – posted a gain of 13.36% and 13.28% respectively since the last independence day. Bandhan Small Cap Fund offered a return of 13.11% in the said time period.

Two funds from Nippon India Mutual Fund – Nippon India Growth Mid Cap Fund and Nippon India Small Cap Fund posted a return of 12.13% and 12.11% since the last independence day. HDFC Mid Cap Fund, the largest mid cap fund based on the assets managed, posted a return of 11.88% since the last independence day.

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SBI Small Cap Fund delivered a return of 9.95% since the last independence day. Mirae Asset Focused Fund was the last one to deliver positive returns since the last independence day.

Negative performers

ICICI Pru FMCG Fund lost the most of around 11.68% since the last independence day. HDFC Technology Fund and Tata Digital India Fund lost 6.75% and 6.63% in the said time period. Mirae Asset Hang Seng TECH ETF FoF lost 4.58% in the said time period.

HDFC Consumption Fund delivered a negative return of 1.99% since the last independence day. Parag Parikh Flexi Cap Fund, the largest active fund and flexi cap fund based on the assets managed, posted a negative return of 1.09% since the last independence day.

PGIM India Large Cap Fund lost the lowest of around 0.14% since the last independence day.

We considered all equity and equity oriented funds including sectoral, thematic, and equity oriented hybrid funds. We considered regular and growth options. We calculated the performance between August 15, 2025 to August 13, 2026.

Note, the above exercise is not a recommendation. The exercise was done to find how equity mutual funds have performed since last independence day.

One should not make investment or redemption decisions based on the above exercise. One should always consider their risk appetite, investment horizon, and goals before making any investment decisions.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in alongwith your age, risk profile, and Twitter handle.

This article was written by

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Applied Materials AMAT -5.12%decrease; down pointing triangle is looking to ramp up its manufacturing capacity to meet continued semiconductor solutions demand as the company’s profit and revenue grow.

The semiconductor-equipment maker is responding to long-term demand signals by adding new manufacturing and customer support teams, Chief Financial Officer Brice Hill told analysts on a Thursday call. The company hopes to build capacity to double quarterly semiconductor system output from its current level by 2028, he said.

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Understanding the risks

All investments carry a certain degree of risk, including possible loss of principal. There is no assurance that an investment will provide positive performance over any time period. Foreign securities present risks that in some ways may be greater than investments in U.S. investments. Those risks include: currency fluctuation; different regulation, accounting standards, trading practices and levels of available information; generally higher transaction costs; and political risks. Value stocks may fall out of favor with investors and underperform growth stocks during given periods. Smaller companies’ stocks often involve more risk than the stocks of larger companies. Stocks of small companies tend to be more volatile and have a smaller public market than stocks of larger companies. Small companies may have a shorter history of operations than larger companies, may not have as great an ability to raise additional capital and may have a less diversified product line, making them more susceptible to market pressure.

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her advisors.

The information, data, analyses, and opinions presented herein (including current investment themes, the portfolio managers’ research and investment process, and portfolio characteristics) are for informational purposes only and represent the investments and views of the portfolio managers and Harris Associates L.P. as of the date written and are subject to change without notice.

The specific securities identified and described in this report do not represent all the securities purchased, sold, or recommended to advisory clients. There is no assurance that any securities discussed herein will remain in an account’s portfolio at the time one receives this report or that securities sold have not been repurchased. It should not be assumed that any of the securities, transactions, or holdings discussed herein were or will prove to be profitable.

Glossary

The MSCI World ex USA Small Cap Index (net) is designed to measure performance of small-cap stocks across 22 of 23 Developed Markets (excluding the United States). The index covers approximately 14% of the free float-adjusted market capitalization in each country. This benchmark calculates reinvested dividends net of withholding taxes. This index is unmanaged and investors cannot invest directly in this index.

The MSCI World ex USA Small Cap Value Index (net) captures small cap securities exhibiting overall value style characteristics across 22 of 23 Developed Markets countries (excluding the United States). The value investment style characteristics for index construction are defined using three variables: book value-to-price, 12-month forward earnings-to-price, and dividend yield. The Total Return Index (net) includes reinvested dividends net of foreign withholding tax. This index is unmanaged and investors cannot invest directly in this index.

©2026 Harris Associates L.P. All rights reserved.

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