Zoom's Stake in Anthropic Valued at $3.13 Billion

Zoom expects its adjusted earnings per share for the third quarter to be between $1.46 and $1.48, falling short of analysts' average expectation of $1.50, indicating the impact of competition in the video conferencing market on profitability. Following the earnings report, Zoom's stock price fell by 3.8% in after-hours trading. The company anticipates third-quarter revenue to be between $1.275 billion and $1.28 billion, while analysts expect an average of $1.28 billion. Zoom has introduced new features such as the AI Companion assistant to attract users, but faces fierce competition from Microsoft Teams and Google Meet. The value of Zoom's stake in Anthropic has increased to $3.13 billion, resulting in a paper gain of $1.61 billion. Zoom invested in Anthropic at the beginning of 2023 and established a partnership to integrate the Claude model into Zoom products. In July of this year, Zoom made an additional investment of $301 million in Anthropic.