Anthropic Files for IPO as Asian Tech Stocks Follow Wall Street Rally
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Asian equities tracked Wall Street's tech rally after Anthropic filed for an IPO, a pivotal moment for the AI boom. Oil fell for a second day as diplomatic efforts raised hopes of avoiding a US-Iran war escalation. A series of large AI financing deals announced Monday all involved Goldman Sachs, which co-led Meta's $95 billion equity offering, served as sole structuring agent on SpaceX's $40 billion chip financing, and was named lead bookrunner for Anthropic's IPO, expected to make each of Anthropic's seven co-founders worth over $13 billion. HSBC shares fell after third-quarter pre-tax profit rose 32% to $9.6 billion, below the $9.7 billion estimate, alongside a $1 billion buyback. Microsoft will offer buyouts to about 60,000 employees, roughly a quarter of its workforce, to cut costs. UK Chancellor John Healey is set to raise the national living wage by about 4% in Wednesday's budget. In Brazil, Flavio Bolsonaro conceded defeat to President Luiz Inacio Lula da Silva.
Source report
Asian stocks followed Wall Street's tech rally after Anthropic filed for an IPO, marking a key moment in the AI boom. Oil prices fell for a second consecutive day as diplomatic efforts strengthened expectations that an escalation of the US-Iran war could be avoided.
AI Financing Deals Involving Goldman Sachs
A series of large AI financing deals announced Monday all involved Goldman Sachs. The bank co-led Meta's $95 billion stock offering, served as sole structuring agent for SpaceX's $40 billion chip financing deal, and was named lead bookrunner for Anthropic's IPO. The listing is expected to make each of Anthropic's seven co-founders worth more than $13 billion.
Corporate News
- HSBC: Shares fell after the bank reported third-quarter pre-tax profit rose 32% to $9.6 billion, below the $9.7 billion expected in a company-compiled consensus. The bank also announced a $1 billion share buyback.
- Microsoft: The company will offer buyouts to approximately 60,000 employees—about a quarter of its total workforce—as it seeks to cut costs and restructure its labor force. Some employees at the vice-president level and below in the US, Canada, India, and the UK are eligible. The company has eliminated tens of thousands of jobs through multiple rounds of layoffs in recent years. In July, it offered buyouts to employees at retirement age.
UK Budget
UK Chancellor John Healey is preparing to raise the national living wage by about 4% but will not narrow the pay gap with younger workers. According to people familiar with the matter, the measure will be announced in Wednesday's budget. Wages for workers aged 18 to 20 will also rise by about 4%.
Brazil
Flávio Bolsonaro abandoned his challenge to the presidential election results, and his Liberal Party went further by formally conceding defeat to re-elected President Luiz Inácio Lula da Silva.
Oil Tanker Industry
Messages from the world's largest supertanker owners often begin with a greeting: "Dear Ladies and Gentlemen." Within minutes, WhatsApp messages become the talk of the tanker industry—a corner of the multibillion-dollar energy market thrown into turmoil this year by the Iran war, where word of mouth is the primary means of spreading information.
Commentary
- Lula's political instincts are raising Brazil's financial risk. The Latin American leftist leader has once again achieved an impossible reversal, but he must now accomplish what he failed to do over the past four years.
- Healey's first budget is an opportunity to clean up Britain's messy public finances, Bloomberg editors write. With borrowing above forecasts and gilt yields high, he should control ballooning health and disability benefits, simplify taxes, and raise revenue to fund defense.
Today's Question: Electronic Folders?
Apple launched a waterproof $699 iPad mini featuring an OLED display with deeper blacks, brighter whites, and higher contrast. Meanwhile, some iPhone Duo users report that their foldable displays developed cracks after only hours or days of use.
Source: Bloomberg
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