Anthropic CEO Threatens SaaSpocalypse 2.0; NNPC Announces Revenues of $2 Billion Dollars; Samsung Joins Trillion Dollar Ranks; Nigerian Lawmakers Target MTN And Multichoice Licenses
- Dipo Owolabi
- 3 days ago
- 4 min read
Updated: 2 days ago
Dario Amodei is sounding the alarm, warning that entire SaaS companies could “go bust” if they fail to evolve in an AI-first world. Closer to home, Nigeria’s state oil giant NNPC is showing early signs of reform-driven progress, with revenue worth billions. Meanwhile, Samsung Electronics has crossed the $1 trillion valuation mark. On the political front, tensions are rising as Nigerian Lawmakers calls for the revocation of licence for MTN Group and MultiChoice Group, following renewed xenophobic attacks. From AI disruption to policy pushback, all this and more in today’s Read It And Eat! |
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MAJOR HEADLINES
Anthropic CEO warns Of A SaaSpocalypse 2.0
CEO Dario Amodei says software-as-a-service (SaaS) companies that don’t evolve with AI could face ruin. Amodei made his comments as part of a conversation with journalist Andrew Ross Sorkin and JPMorgan (JPM) CEO Jamie Dimon during Anthropic’s The Briefing: Financial Services event. Sorkin initially asked Dimon what would happen to software companies as AI grew, then asked Amodei the same question.
The chief executive responded that companies can no longer bank on the complexity of their software as a moat against competitors. “I think if your moat is ‘our software is complex and difficult to write, and we can write it, and others can’t match it,’ I think that’s going away,” Amodei said. “I don’t know what will happen to the group of today’s SaaS incumbents as a group that’s more indeterminate. I think individual SaaS companies, it’s very possible for them to lose market value, go bankrupt, completely, go bust, but it depends on the response,” he added.
Other companies have taken similar steps. ServiceNow on Tuesday announced it is launching an AI agent similar to OpenClaw. But that hasn’t saved the company from the SaaS-pocalypse. ServiceNow stock is down 39% year to date, while Snowflake is off 35%. Thomson Reuters, meanwhile, has fallen 28%. Microsoft is also facing headwinds from the software sell-off, as well as questions about its ability to meet customer demand for AI computing capacity. The company’s stock price is down 15% since the start of the year. Yahoo.Finance
Nigeria’s State Owned Oil Company Generated Revenues Of $2 Billion; With Profits Jumping 50%
Nigeria’s state oil company, NNPC Limited, reported a sharp improvement in profitability and revenue, signaling stronger operating performance despite uneven monthly trends. Profit after tax rose to N276 billion ($201 million) in March, up roughly 49% from N136 billion ($99 million) in February, while revenue climbed to N2.774 trillion ($2.02 billion) from N2.68 trillion the previous month. The rebound points to improved efficiency and stronger margins across its upstream and gas businesses following a softer February performance.
Those gains come alongside a significant rise in remittances, with total payments hitting N2.89 trillion ($2.1 billion) in Q1, one of the clearest indications yet that recent oil sector reforms are beginning to take hold. Monthly remittances surged from N726 billion ($530 million) in January to N1.804 trillion ($1.32 billion) in February before easing in March. The February spike likely reflects tighter enforcement and reconciliation of past revenues rather than a sudden jump in oil production, highlighting increased transparency and reduced leakages.
Meanwhile, natural gas continues to emerge as a key growth driver. Output rose steadily to 7,731 million standard cubic feet per day in March, the highest level in a year, up from 7,458 in February and 7,283 in January. Gas sales also climbed to 5,059, supported by rising domestic demand and ongoing commercialization efforts, reinforcing Nigeria’s strategic pivot toward gas as a more stable and scalable revenue stream in a transitioning global energy market. BusinessInsider
Samsung Electronics has crossed the $1 trillion market capitalization mark, propelled by a powerful rally in semiconductor stocks as investor enthusiasm around artificial intelligence continues to surge. The milestone comes amid a broader upswing in global chipmakers, with Samsung benefiting from its dominant position in memory chips, and SK Hynix and the entire South Korean stock market at large benefitting from it.
The surge in valuation reflects a sharp rebound in the semiconductor cycle, driven by insatiable demand for AI infrastructure. As hyperscalers and tech giants ramp up spending on data centers, the need for advanced memory and storage has created supply constraints, giving companies like Samsung significant pricing power. This dynamic has translated into stronger earnings expectations and renewed investor confidence in the sector.
Samsung’s entry into the $1 trillion club underscores how central semiconductors have become to the global AI economy. It also signals a shift in market leadership toward companies enabling the AI boom, as capital increasingly Financial Times |
Nigerian Lawmakers Mount Pressure On MTN & Multichoice; Spurred By Xenophobic Attacks On Nigerians In South Africa
The senator representing Edo North, Adams Oshiomhole, has called for the revocation of operating licences of South African companies in Nigeria, including MTN Group and MultiChoice Group, following renewed xenophobic attacks against Nigerians in South Africa.
His call came as the House of Representatives condemned the latest wave of attacks and urged the Federal Government to take swift diplomatic and protective measures to safeguard Nigerians abroad as the xenophobic attacks have led to the death of some Nigerians in South Africa. Speaking during plenary, Oshiomhole argued that Nigeria must respond decisively, invoking the principle of reciprocity in international relations.
He stressed that lawmakers should move beyond sympathy and adopt firm actions to defend citizens. The former Edo State governor proposed that Nigeria should nationalize MTN and withdraw its licence. The Blueprint
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