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The day's top stories, pulled straight from Bloomberg and the Financial Times. Tap any headline to read it at source.
Anthropic Revenue Jumps to $16.8 Billion in Quarter Before IPO
Anthropic PBC told prospective investors its third-quarter revenue hit $16.8 billion, according to people familiar with the matter, as the artificial intelligence model maker pushes ahead with plans to go public.
OpenAI employee accused of bugging office booked one-way ticket to Saudi Arabia
Newly unsealed court filings say Abdulrahman Alfozan, his wife and a third family member had booked travel for October 12
CreditSights Head of Strategy on Bond Market Volatility
Winnie Cisar, Global Head of Strategy at CreditSights, discusses the strain from heavy corporate borrowing, including debt tied to AI infrastructure. She said individual issuer problems such as CoreWeave’s may coexist with a broader surge in issuance that is challenging investors’ ability to absorb new debt. She speaks to Romaine Bostick on "The Close." (Source: Bloomberg)
Huel CEO on Danone Deal and Expansion to US Retail
Huel CEO James McMaster discusses Danone’s roughly $1.2 billion acquisition of the UK-based meal-replacement and protein-shake maker. He says Huel established local manufacturing and warehouses when it entered the U.S. about eight years ago, and has since grown internationally; the company views Danone as the right partner to take it to its next stage. He speaks with Romaine Bostick on "The Close." (Source: Bloomberg)
Anthropic revenue jumps to $16.8bn in third quarter
AI start-up gathered investors for presentations in San Francisco on Wednesday ahead of its anticipated public listing
Loop Capital CEO on Expanding Athlete Wealth Platform
Loop Capital is buying $450 million in client assets from Lifeline Capital to expand its wealth management business and serve more athletes and entertainers. Founder, Chairman and CEO Jim Reynolds said the firm encourages athletes to invest in companies and gain ownership rather than rely on short-term endorsement payments. He speaks with Romaine Bostick on "The Close." (Source: Bloomberg)
Asian Stocks to Fall as Hot CPI Sparks US Selloff: Markets Wrap
Asian stocks were set for declines, tracking a tech-led Wall Street selloff after hotter-than-expected US inflation fueled bets on more aggressive Federal Reserve rate hikes.
Stocks Slide as Hot Inflation & AI Credit Fears Hit Markets
The Close brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Vanguard President & CIO Greg Davis, UBS Equity Research Analyst, Large-Cap Banks & Consumer Finance Erika Najarian, Janus Henderson CEO Ali Dibadj, CreditSights Global Head of Strategy Winnie Cisar, DoubleLine Global Sovereign & Emerging Markets Head Bill Campbell, Cisco Chair & CEO Chuck Robbins, Blackstone Global Head of Digital Infrastructure Mike Forman, Nuveen Global Head of Infrastructure Jessica Bailey, KKR Head of North American Infrastructure Brandon Freiman, Loop Capital Founder, Chairman & CEO Jim Reynolds, & Huel CEO James McMaster. (Source: Bloomberg)
Latest Oil Market News and Analysis for Oct. 15
Oil held a gain as a flare-up in attacks from Russia to the Middle East threatened supply that only recently recovered to near pre-war levels.
CAIS Summit Panel on AI Buildout
At a forum in Beverly Hills, the discussion focused on obstacles to expanding AI data centers, including rising energy costs and weakening public support for construction. Blackstone’s Mike Forman said infrastructure supply constraints are worsening, particularly around power: utilities that once could connect projects within six to twelve months may now quote waits of up to seven years, require investments as high as $1 billion, and offer less certainty. The panel of Mike Forman, Jessica Bailey & Brandon Freiman speak to Romaine Bostick at the CAIS Summit Panel. (Source: Bloomberg)
Janus Henderson CEO on Going Private, M&A Deals
Janus Henderson CEO Ali Dibadj said the firm is energized by its move to private ownership and is using the flexibility to invest in people, technology including AI, new products and client service. He said quarterly earnings pressures had constrained those investments, despite the firm’s growth as a public company. He speaks with Romaine Bostick on "The Close." (Source: Bloomberg)
Ukraine blindsided by Starlink restrictions and intelligence gaps
Moscow ignores Donald Trump’s ‘energy ceasefire’ while Kyiv’s forces experience connectivity problems on Elon Musk’s satellite network
Nvidia, Anthropic Weigh In On AI Safeguards
Nvidia CEO Jensen Huang said he would halt the supply of chips to a customer that was developing unsafe AI software, though he doesn’t believe that the current level of concern about the technology is warranted. AI executives such as Anthropic CEO Dario Amodei have proposed an industrywide slowdown to address the concerns. Meantime, Anthropic held an investor day Wednesday as it advances plans for a potential IPO at an approximately $2 trillion valuation, amid growing concerns about AI safety and threats. We get reaction from Bloomberg Tech host Ed Ludlow & Jacqueline Corbelli, Co-Founder and CEO at Brightline Partners. (Source: Bloomberg)
Vanguard CIO Greg Davis on Market, Inflation Outlook
Vanguard President and CIO Greg Davis said the CPI report was one data point for markets and the Federal Reserve to assess, while noting inflation remains above the Fed’s 2% target and the Fed still has work to do. Davis said Vanguard generally expects one to two rate hikes over the coming months, depending on incoming data. He speaks with Romaine Bostick on "The Close." (Source: Bloomberg)
Canadian Lender Cash Today Inc. Under Scrutiny as 44,000 Loans Vanish
A Canadian consumer lender has left creditors with potential claims of more than C$613 million ($430 million), while a court-appointed receiver struggles to account for the firms’ loans and determine how investor money was used.
Why Inflation Numbers Are Disappointing
While inflation numbers might not be disastrous, they’re still disappointing and moving in the wrong direction. Bloomberg Opinion columnist John Authers explains where this leaves the US, and if it will lead to any more rate hikes from the Fed. (Source: Bloomberg)
Tesla-SpaceX Deal News Possible This Year, Barclays Analyst Says
A merger between Elon Musk’s Tesla Inc. and SpaceX could be announced ahead of the electric-vehicle maker’s annual general meeting, according to analysts at Barclays.
Rocket Lab Falls After Neutron Rocket Debut Delayed to 2027
Rocket Lab Corp. again delayed the debut of its new, more powerful Neutron rocket, pushing the vehicle’s first flight to 2027.
Oil Gains as Middle East, Russia Hostilities Imperil Flows
Oil gained Wednesday as hostilities intensified from Russia to the Middle East, threatening supply flows that only recently recovered to near pre-war levels. Brent traded above $106 after Iran-backed Houthi rebels launched missile and drone strikes across Saudi Arabia, including a hit that damaged Saudi Aramco’s headquarters. That added to an escalation in Iranian attacks on tankers in the Strait of Hormuz that’s threatening a rebound in Gulf supply. We discuss the latest energy headlines with Rob Barnett, Senior Energy Analyst for Bloomberg Intelligence. (Source: Bloomberg)
Apple to Release AI Platform in Mainland China
Apple is planning to launch Apple Intelligence in mainland China in December. This is a huge market for the company. Bloomberg's Mark Gurman broke the news and has more on "Bloomberg The Close." (Source: Bloomberg)
US chip stocks slide as inflation and AI debt fears unsettle investors
Investors rush into Treasuries as sell-off triggers demand for haven assets
S&P 500 Ends Longest Streak of Calm Since 2020 as AI Trade Sinks
The US stock market’s longest streak of tranquility since before the Covid-19 pandemic is over.
Bank of America Slides on $1.21 Billion Fine as Chip Stocks Tumble | Closing Bell
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Carol Massar and Tim Stenovec. (Source: Bloomberg)
Perella Weinberg and Piper Sandler abandon merger talks
A deal would have created an independent investment bank with an equity value of more than $6bn
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