Finance
Finance news and market reads — macro, capital markets, earnings.
- 112026-11US October CPI Tops Forecasts; Tech Stocks Slip as Money Rotates to DefensivesUS October CPI rose 0.4% month on month and core CPI climbed 0.3%, both above market expectations and marking the second straight month of upside inflation surprises. Major US stock indexes extended losses after the release, with the Nasdaq the weakest performer. Tech momentum faded as money flowed into defensive sectors such as utilities and consumer staples, risk appetite fell, and expectations for the pace of rate cuts faced revision.
- 112026-11Anthropic IPO valuation could rise to $1.5tn as Amazon stake returns surfaceUnderwriters plan to raise Anthropic's IPO valuation to $1.5tn or more on strong investor demand, the Financial Times reported. The updated prospectus shows Amazon could theoretically hold about 20% of shares outstanding, but a self-imposed cap limits its actual stake to no more than 12%; at the midpoint of the proposed pricing range, the full stake would be worth about $258bn against roughly $18.6bn invested. Neither tech giant will hold voting shares.
- 112026-11Anthropic Sets IPO Price Range at About $1 Trillion Target Valuation, Below ExpectationsAnthropic has set the price range for its IPO at a target valuation of about $1 trillion, below earlier market expectations, TMTPost reported on Nov 11. CNBC's Jim Cramer said on Nov 10 that the company's explosive growth could justify a record-breaking IPO and is bullish for tech and the AI trade. The below-consensus valuation reflects lingering disagreement over whether AI assets are overvalued, and the final pricing and market debut will be a key test of the AI trade's prospects.
- 112026-11Anthropic Kicks Off IPO as Valuation and Moat Questions MountAnthropic has launched its IPO, with AI critic Gary Marcus publicly questioning on Nov 10, 2026 whether the company has any moat and flagging its massive capital spending, while the investment community splits over whether the valuation is justified. Investors are watching the IPO pricing and subscription, the moat debate, and whether capital spending matches a credible path to profit.
- 112026-11Anthropic Launches IPO as Valuation Debate and Commercial Prospects Take Center StageAnthropic has launched its initial public offering, with the market sharply divided over whether its valuation is justified and how its commercial prospects will play out. Retail investors on the V2EX forum are debating whether this is an investment opportunity or a valuation bubble, while prominent AI commentator Gary Marcus has said plainly that he personally would not take part in the IPO. The pricing, subscription and post-listing performance will serve as an important test case for how AI companies are valued.
- 112026-11CoreWeave Q3 revenue doubles to $3.66B as net loss widens to $709MCoreWeave reported third-quarter results on Nov 10: revenue of $3.66 billion, more than double the year-earlier figure, and raised its guidance, but its net loss widened to $709 million, driven mainly by debt interest costs that climbed to $846 million. The results lay bare the tension between the heavy-asset buildout of AI compute leasing and profitability, with debt-cost control and guidance delivery the key things to watch.
- 112026-11Anthropic Kicks Off IPO Roadshow With Valuation Range of $1.26tn to $1.4tnAnthropic launched its IPO roadshow on Nov 10, setting a price range of $70 to $78 per share, implying a valuation of $1.26tn to $1.4tn — below the $2tn the market had expected and close to OpenAI's recent valuation of about $1.25tn. The roadshow runs 7 to 10 days, with attention focused on the final pricing and post-listing performance.
- 112026-11SoftBank Takes $3.7 Billion Impairment on Data Center PrepaymentsSoftBank Group recorded a $3.7 billion impairment on non-refundable advance payments for data center equipment in its September-quarter results, including $900 million tied to contract modifications. The writedown highlights prepaid-capital risk in the AI infrastructure build-out and echoes same-day scrutiny of CoreWeave's debt-fueled expansion, with markets focused on AI infrastructure returns and shifting financing models.
- 102026-11Anthropic launches IPO roadshow with $70-$78 price range, total raise of up to $90.4BAnthropic has filed an updated draft prospectus for an IPO priced at $70 to $78 a share, aiming to raise up to $64.4 billion, with another $26 billion from a private placement bringing the total to as much as $90.4 billion. An earlier $69.3 billion version was withdrawn over inaccurate pricing details, and final terms are pending an updated filing.
- 102026-11TSMC October revenue jumps 59.7% year on year, year-to-date total hits NT$4.49 trillionTSMC's October 2026 consolidated revenue reached NT$586.89 billion, up 59.7% year on year and 14.7% month on month. Revenue for the first 10 months totaled NT$4.49 trillion, up 43.3% year on year. The strong October showing offers early validation of the company's Q4 guidance, Goldman Sachs raised its target price to NT$3,300, and the market is watching 2nm volume production and overseas expansion progress.
- 102026-11Nvidia loses $193bn in market value in a day as Jensen Huang faces shareholder class actionNvidia closed down 4.27% on Nov 9, wiping about $193 billion (roughly 1.29 trillion yuan) off its market value. Minutes after the close, the company and CEO Jensen Huang were hit with a shareholder class action accusing them of defrauding investors. The board has opened an independent investigation into allegations tied to Huang's personal affairs, with markets focused on whether he stays and who could succeed him.
- 102026-11Nvidia Shares Hit Seven-Month Low as Huang Governance Storm WidensNvidia fell 4.27% to $178.67 on Nov 9, a seven-month low, wiping more than $190 billion off its market value in a single session. President Trump publicly raised CEO Jensen Huang's relationship with Huang Le, and Nvidia's board has opened a review of Huang's future, with lead independent director Stephen Neal expected to steer it. Investors are watching the outcome and any regulatory fallout.
- 102026-11Anthropic Seeks Up to $69.3 Billion in IPO After Briefly Pulling ProspectusAnthropic plans to raise up to $69.3 billion in its IPO, with shares expected to begin trading on Nasdaq under the ticker "ANT" on Nov 19 or 20, Reuters reported. The Information said an updated prospectus was retracted because some details were incorrect; the initial version sought up to $70 billion. It is unclear whether the retraction will affect the listing timetable.
- 102026-11Anthropic Pushes Ahead With Record IPO as Valuation Expectations Cool to $1.1T–$1.3TAnthropic is moving forward with its IPO and aims to start trading on Nasdaq on Nov 19 or 20 under the ticker ANT, The Wall Street Journal reported. After a sharp pullback in AI stocks and pressure from major institutional investors, market expectations for its valuation have fallen from $1.5 trillion to $1.1 trillion–$1.3 trillion, with some seeing it closer to $1 trillion. The company still plans to raise $80 billion–$100 billion and will launch its roadshow this week; the final offer price and valuation remain undetermined.
- 092026-11Pudong Venture Capital moves AI seed fund upstream: investment on entry, top-ups to 1.5 million yuanPudong Venture Capital is using its 2 billion yuan AI seed fund to move its investment entry point upstream to its AI training camp: teams sign on entry with a guaranteed 300,000 yuan, and top projects can receive follow-on investment of up to 1.5 million yuan, with no valuation-adjustment or buyback clauses. The first two camps drew more than 350 applicants, about 40 teams were admitted, and investment intentions cover every admitted team. Recruitment for the third camp is now open worldwide.
- 082026-11OpenAI's new funding round brings in $11B, less than half of original targetOpenAI's latest funding round brought in $11 billion, less than half of what was originally planned, according to a Nov 7 report by QbitAI. Over the same period, the Nasdaq fell 5.52% in a single day on Nov 5. The gap between the shrinking funding structure and public statements offers a key window into the AI capital cycle.
- 072026-11Anthropic to press ahead with pre-Thanksgiving IPO as investors question $1.5tn valuation targetAnthropic plans to push ahead with an IPO before Thanksgiving targeting a $1.5 trillion valuation, FT and CNBC reported on Nov 6. Investors see that figure as a stretch, and the actual listing valuation could land below both the target and earlier expectations. A tech selloff and cooling AI trade are the key external variables for pricing. Deal size and underwriters have not been disclosed.
- 072026-11Anthropic IPO valuation expectations under pressure as buyers balk at $1.1 trillionBloomberg reports that the AI selloff has weighed on Anthropic's expected IPO valuation, with potential buyers pricing it as low as $1.1 trillion. On the same day, tech commentator Gary Marcus noted that markets had shed $2.5 trillion the previous day and offered five predictions. The interplay between how AI leaders are priced and broader market sentiment bears watching.
- 072026-11AI stocks sold off after midterms, executives' optimism clashes with market fearsAfter the US midterm elections, investors dumped tech stocks on worries about tighter AI regulation and stretched valuations, sending markets into sharp swings. Executives at OpenAI, Arm and Qualcomm publicly backed long-term AI growth, in contrast to market caution. What happens next depends on how clear the regulatory framework becomes, whether corporate earnings confirm the optimism, and whether the volatility spreads.
- 062026-11AI slowdown fears spark global tech selloff; Korean stocks trigger circuit breakerGlobal tech stocks were hit by a selloff driven by fears of an AI industry slowdown after the Democrats' midterm victory. South Korea's KOSPI closed down 6.02% on Nov 6, triggering a circuit breaker and a sell-side suspension; the Kosdaq fell 5.03%; the UK's FTSE 100 opened down 1.5%. Markets are watching AI industry data and policy signals.