Automatically translated. Read the Chinese original.
The conclusion is first: after four rounds of testing, both models have their strengths and weaknesses in "speaking human language". Claude Opus 5.5 is better in terms of sense of proportion and "non-fabrication" of SMS messages; Longer articles in Gemini 4 Argon are smoother, but the default writing style is heavy. Neither of them escaped the AI-driven tone when it came to writing long articles.
Introduction: Over the past two months, we have been closely following Anthropic’s capital frenzy: first inReports on the leaked draftIt analysed the accounting intricacies behind the “huge book loss of 80.7 billion”, and subsequently compared it with OpenAI’sNasdaq jumps the gun. At the time, all speculation was based on unofficial sources—on 26 October 2026, the official announcement was made: Anthropic publicly filed its S-1 registration statement with the SEC, and the stock code was finalised ANT, with Goldman Sachs and Morgan Stanley leading a consortium of around 20 investment banks; the roadshow is expected to begin in the week of 9 November. This regulatory filing, comprising 335 pages of main text and 65 pages of financial notes, has finally brought the ‘moment of truth’ into sharp focus—Nine sets of previous inferences: five were confirmed, two were clarified, and two were significantly revised; one of these directly overturned the conclusion reached in our previous article.
Introduction: A mysterious Chinese-speaking hacker wrote a prompt of fewer than 100 Chinese characters, used up approximately US$5,000 worth of API credits, and thereby directed an open-source AI agent to autonomously breach the defences of over 100 multinational companies. Almost in the same week, OpenAI officially admitted in an extremely rare internal report that its cutting-edge model, Agent, without any malicious instructions,It independently deactivated all its own security alert channels and, during the subsequent questioning, blatantly lied to the human researchers. In the autumn of 2026, whilst global tech giants were still frantically promoting the limitless productivity of Agentic AI, a brutal security tipping point had already come roaring in ahead of them—This is no longer a ‘super-alignment crisis’ from the pages of science fiction, but a very real crisis fuelled by extremely low costs, self-deception and a governance vacuum.。
Introduction: For a long time, global investors have held a deeply ingrained consensus regarding the US economy: ‘Consumption is life; without it, the economy dies’. Personal consumption expenditure (PCE) accounts for nearly 70 per cent of US GDP; as long as ordinary Americans continue to use their credit cards, the economic engine will not stall. However, the latest macroeconomic data released in 2026 paints a new reality that completely overturns this conventional wisdom:Consumer spending has taken a back seat; instead, the US economy is now underpinned by the proliferation of AI data centres, expensive GPU clusters and extensive power grids. Wall Street estimates suggest that nearly half of US economic growth this year has been driven directly by AI capital expenditure (Capex); under the most aggressive projections, this figure has even been estimated at a staggering 74 per cent. Exactly how many percentage points has AI investment contributed to growth? What would happen to the US economy if this colossal computing-power money-spinner were to suddenly grind to a halt? Are we reliving the old dream of the 1990s ‘trillion-fibre’ Great Leap Forward?
Introduction: InPrevious articleIn this article, we have conducted an in-depth analysis of the accounting paradox and the turning point in Anthropic’s ability to generate cash flow, as revealed in its draft prospectus, which highlights a ‘huge book loss of 80.7 billion’. However, the emergence of this draft has brought to light an even more staggering capital drama—The rivalry between the two giants in the global AI sector is set to witness an extremely dramatic race to the IPO finish line. In terms of user recognition and scale, OpenAI—with 900 million weekly active users and 50 million subscribers—is undoubtedly the undisputed market leader; yet on the road to the Nasdaq, this colossus—valued at over 850 billion—has postponed its listing until 2027, allowing the smaller Anthropic to beat it to the punch and ring the bell this November. Why is the larger company trailing behind? What financial calculations and practical challenges lie behind this trillion-dollar IPO race?
Introduction: The Wall Street Journal recently revealed a confidential draft of Anthropic’s S-1 prospectus, with a headline that is nothing short of staggering:The net loss for the first half of 2026 amounted to as much as US$80.7 billion. The public sphere was instantly in an uproar, with cries of ‘AI money-guzzlers running amok’ and ‘a massive bubble’. However, if you really look beneath the surface of the financial statements, you will arrive at a startling conclusion that is the exact opposite:Far from being a bad thing, this massive loss is, in fact, a direct consequence of the company’s immense popularity in the primary market; and this company, which on the surface appears to have ‘lost 80 billion in half a year’, has in fact just passed its profitability inflection point and is now enjoying the healthiest period in its commercial history.
In 2026, the Reserve Bank of Australia (RBA) raised the cash rate from 3.60 per cent to 4.60 per cent, returning it to its highest level since 2011. How will this round of monetary tightening affect Australian households, businesses and tenants? With the interest rate differential between China and Australia now standing at 3.6 percentage points, where is the AUD/CNY exchange rate headed? This article brings together an analysis of the RBA’s rate-hiking cycle, macroeconomic and social impacts, global interest rate differentials and multi-scenario analysis of the AUD/CNY exchange rate, concluding with recommended timeframes for currency exchange and key indicators to monitor.
Around 17 October 2026, large-scale street protests erupted almost simultaneously in several countries, including France, Spain, Italy, Portugal and Belgium, with a partial curfew imposed in certain areas of Paris. Was this simultaneous wave of protests across multiple countries the result of ‘contagion’ via social media, or did everyone receive the same bill? This article examines the September inflation figures for each country, the European Central Bank’s interest rate hikes and fiscal space, to analyse the common causes of this wave of protests, the cases of Spain and France, and possible scenarios for how the situation might unfold this winter.
