All eyes on AI
SPY•Markets rallied after Anthropic filed for a U.S. IPO, while Meta Platforms plans to raise up to $95 billion for AI infrastructure and a SpaceX affiliate agreed to a roughly $40 billion AI chip and server hardware lease deal with Apollo Global Management. South Korea’s KOSPI rose 3.6%, though it remained on track for a 17% October decline.
1. AI optimism returns
Asian stocks rose after investors welcomed Anthropic’s U.S. IPO filing, even as concerns persist about the scale of AI infrastructure spending and how quickly it may become profitable. The filing showed rapid revenue growth, large losses and risk factors, the article said.
2. Funding and market moves
Meta Platforms plans to raise up to a record $95 billion to fund AI infrastructure expansion. A SpaceX affiliate said Apollo Global Management will buy AI chips and server hardware and lease them to SpaceX in a deal with about $40 billion in total principal payments. Last week, the cost of insuring Meta’s debt against default reached an all-time high.
3. Central banks in focus
South Korea’s KOSPI gained 3.6% in its biggest one-day jump since early September, but was still set for a 17% decline in October. This week’s focus includes earnings from AI hyperscalers and central bank decisions; market watchers expect rate increases in New Zealand and Canada, while policymakers in the United States, euro zone and Japan are expected to hold rates and may signal possible December increases.
