It means the maker of the Claude AI assistant will not launch the largest public listing, as had been anticipated.

Instead, Elon Musk's company SpaceX will remain the most expensive initial public offering (IPO) at $1.77trn.

The target valuation, however, would still make Anthropic one of the most valuable companies in the world.

It would be behind just a handful of tech giants in value, with titans like Nvidia, Apple and Microsoft outpacing it.

While the values are eye-watering - as one trillion seconds equals 31,689 years - it's lower than had been anticipated by Wall Street analysts.

By comparison, one million seconds is 11.5 days; a billion seconds amounts to more than 31 years.

A $2bn valuation had been discussed before $1.5bn was expected by analysts.

The drop to $1.4trn comes as concern over AI spending mounts.

On Friday, tech stocks experienced a sell-off as the US midterms heralded a blue tsunami of Democratic victories, some of whom benefited from anti-data centre and anti-AI policies.

There had been speculation that Anthropic would delay its IPO as a result.

But the announcement coincides with another rally in tech stocks as the Friday falls reversed.

The world's most valuable company, the AI chip maker Nvidia, is still suffering losses as its founder and chief executive, Jensen Huang, admitted to having an affair.

The woman he had the affair with is an alleged Chinese spy and Donald Trump has said the FBI is looking into the Nvidia CEO.

The officers were responding to reports of a violent dispute between families in Oviedo, during which a young woman was shot and injured.

When the officers arrived, they found the device inside a backpack. It exploded as they attempted to take it away to be defused.

The officer who died has been named by Spain's national police as Juan Jose. He was a member of the canine unit of the national police.

The officer who lost his leg is undergoing surgery at the Hospital Universitario Central de Asturias. He is believed to work for the bomb ⁠disposal unit.

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Paying tribute to the officers, Spain's national police said in a post on X: "Saddened by the death of our colleague Juan José, from the Special Canine Unit, during the inspection of a suspicious backpack in Asturias.

"Our hearts are with his family, friends, colleagues and loved ones."

Spain's Military Emergencies Unit (UME) also offered condolences: A statement on X said: "On behalf of the UME, we extend our deepest condolences to Juan Jose's family, friends and colleagues."

"We also send all our strength to the injured TEDAX-NRBQ agent and wish him a speedy recovery."

The woman who was shot in the original incident remains in hospital.

Both the suspect and the partner of the suspect have been arrested, police said.

Handwritten testimonials from survivors will be attached to the items being included in the exhibition, organised by Glasgow and Clyde Rape Crisis (GCRC) as part of its 50th anniversary.

Members of the public seeing the items - which include pieces of children's clothing - are being urged to read these, and then share their hopes for women over the next 50 years.

The clothes have been donated by women and girls from Glasgow and the surrounding area, including some who have suffered sexual crimes.

Last year, GCRC - which is Scotland's largest rape crisis centre - supported more than 3,000 females, ranging in age from 13 to their 80s.

Sexual crimes recorded by Police Scotland surged by 10% in 2025-26, reaching a total of 16,430 - the highest level on record since 1971.

However, funding means the charity has had to close referrals to some of its waiting lists for specialist support.

In February, it revealed that 182 survivors were waiting for help, with waiting times of up to 226 days.

Centre director Claudia Macdonald-Bruce said: "Every day, we see the devastating impact of rape and sexual violence has on women and girls. The consequences can be life-changing.

"We support survivors from all walks of life from businesswomen, taxi drivers, nurses and schoolgirls.

"There is no single face of sexual violence, and no one should ever believe it could not happen to them, or someone they love."

She added: "We need everyone in Scotland to confront the uncomfortable truth that rape and sexual violence can happen to any woman or girl, anywhere, at any time."

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Speaking about the exhibition, Ms Macdonald-Bruce said the items of clothing "represent real women and girls who were simply living their lives and going about their business".

She continued: "They are a powerful reminder that sexual violence is never about what a women or girl wears, where they go or how they behave. The responsibility always lies with the perpetrator.

"For far too long, women and girls have been expected to change their behaviour, to ask if what they're wearing could attract the wrong attention, while the attitudes that enable violence have been allowed to persist.

"Enough is enough. We must challenge victim-blaming, confront the attitudes that excuse abuse and demand change."

Sky News has learnt that Gordon Brothers agreed to unlock roughly £10m held on Poundland's balance sheet on Tuesday, just hours before the US investment firm's top UK executive is grilled by MPs over its stewardship of the chain.

Industry sources said the release of the funds was "a vital step" but cautioned that it did not automatically mean that Poundland would be able to avert collapsing into administration as soon as this week.

Gordon Brothers' move comes after one of the solvent bidders for Poundland said the resumption of supplier payments was essential to the prospects of a deal.

Martin Property Group is said to remain interested in a deal, while another bidder, Xyra Group Holdings, has been reported to be the frontrunner to do a deal because it is offering to repay more of a £30m shareholder loan up front.

A notice of intention to appoint administrators expires on Thursday, and Poundland's directors will be unable to seek an extension to it unless they are confident that creditors' interests would not be compromised by doing so.

If they cannot be satisfied that that is the case, they would have no choice but to proceed with the appointment of AlixPartners as administrators.

That would pose a serious threat to roughly 10,500 jobs just weeks before Christmas, and leave Poundland's 600 stores in the UK and Ireland open to being cherry-picked by high street rivals.

The notice was filed after Gordon Brothers froze Poundland's bosses' access to company funds after accusing them of breaching the terms of its asset-based lending facility - an accusation they are said to reject.

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Poundland has not placed any supplier orders for at least two weeks, meaning that even the latest release of funding offers no guarantee of survival.

Gordon Brothers has rejected a number of going concern offers for Poundland on the basis that it would not receive adequate repayment of its share of a £30m shareholder loan for which it paid just £1.

Mark Newton-Jones, Gordon Brothers' top UK executive, will appear before MPs on the business and trade select committee on Wednesday to explain the firm's conduct.

Committee members are expected to grill him on the reasons for the sudden resignation of three Poundland directors just two weeks after their appointment, as well as Gordon Brothers' insistence that it is trying to salvage as many jobs as possible.

Poundland declined to comment, while Gordon Brothers could not be reached for comment.

Lady Smith, chair of the inquiry, found that children were abused by staff from the 1950s to the 1980s, and endured physical and emotional abuse.

She said some boarders lived in a "permanent state of fear" and that the institution "failed to look at itself through a realistic and critical lens".

Broadcaster Nicky Campbell, who attended the school between 1966 and 1978, was among those who gave evidence to the Scottish Child Abuse Inquiry (SCAI) and described being "haunted" in the middle of the night by memories of his schooldays.

Lady Smith named four alleged serial perpetrators of abuse - ex-housemaster and senior school teacher Hamish Dawson, who died in 2009; ex-housemaster and deputy head of the junior school John Brownlee; physics teacher William Bain, a now twice-convicted sex offender who began his lengthy history of abuse at Edinburgh Academy before moving on to harm children at other schools, and one other staff member.

Edinburgh Academy has reiterated its "sincere apology" to all those affected by abuse at the school and said it is educating its current pupils in a "caring and supportive environment".

Lady Smith said: "For decades, the school failed to look at itself through a realistic and critical lens.

"It is clear it was assumed that abuse did not and would not take place; when it did, the school could not accept that it had happened, failed to address it, and failed to recognise the risk of it continuing. Complacency was the order of the day.

"When complaints were made, they were either disbelieved or left unresolved. Staff chose not to notice and avoided intervention or investigation despite there being obvious signs of abuse."

She added: "Children were failed, and failed to the extent that there was dreadful abuse."

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In 2024, Brownlee, then 89, was ruled by a court to have committed "cruel and unnatural acts" of physical and emotional abuse on pupils at the school between 1967 and 1991, but was deemed medically unfit to stand trial and was not sentenced to punishment.

Lady Smith found that homophobia was rife at the academy, while racism was prevalent even in the prep school, often involving anti-English sentiment, while some pupils were abused by others because they were Jewish or because of their skin colour.

Girls were subjected to "unpleasant abusive misogyny" after the introduction of co-education in the sixth form.

Lady Smith also referred to the evidence of a former pupil, who gave evidence using the pseudonym Henry, who described how it was "normal to groom 11-year-olds with jelly babies" and molest them in front of many others.

He told the inquiry: "It was normal to kick, hit and strangle, to the point of unconsciousness, 10-year-olds. "It was normal to inflict physical punishment with a plank of wood with no good reason," he added.

Barry Welsh, rector of the academy, said: "We have a commitment to facing up to the wrongs of the past which remains unwavering. We are grateful to Lady Smith and we have played our part in her inquiry throughout.

"Her report makes for sombre reading, and reinforces the remarkable bravery shown by our former pupils who have given evidence. We reiterate our sincere apology to all those affected by any abuse that occurred at our school.

"While we cannot change the past, we can shape the future. We continue to support survivors as fully as we are able whilst also educating our current pupils in a caring and supportive environment."