All eyes on AI
SPY•Anthropic’s IPO filing lifted investor sentiment toward the AI trade, while Meta plans to raise up to $95 billion for AI infrastructure. South Korea’s KOSPI rose 3.6% on Tuesday but remained on track for a 17% decline in October.
1. AI funding lifts sentiment
Asian stocks followed Wall Street higher after Anthropic unveiled its US IPO paperwork. The filing showed rapid revenue growth and large losses, while investors continued to weigh the capital required for AI infrastructure and how quickly it may become profitable. Meta plans to raise up to $95 billion to fund AI infrastructure expansion.
2. Markets face key decisions
SpaceX said an Apollo Global Management affiliate will buy AI chips and server hardware and lease them to the company, with total principal payments of about $40 billion. South Korea’s KOSPI, led by Samsung Electronics and SK Hynix, rose 3.6%, its biggest one-day jump since early September, but was still set for a 17% decline in October. Earnings from AI hyperscalers and central bank decisions are expected to shape trading this week.
