Good morning. QQQs +70bps popping above 50d led by semis +1.5% while software/internet lag. BTC +6% and +22% this week, best week since Feb 2024 taking up BTC related names again: CRCL +6%; HOOD +5%; COIN +5%. Yields down 1-2bps across the curve.
Asia generally up overnight: TPX +0.19%, NKY -0.3%, Hang Seng +1.21%, HSCEI +1.01%, SHCOMP +0.04%, Shenzhen +0.49%, Taiwan TAIEX +0.65%, Korea KOSPI +0.88.
Fairly slow mid-August morning. Next week we get Jackson hole, Jefferies Semi conference, NVDA and some off q sw companies reporting (CRM, WDAY, CRWD, OKTA, INTU etc.).
Let’s get to it…
Anthropic: Anthropic Expects to Match or Top SpaceX’s Record IPO Size - Bloomberg
Bloomberg says Anthropic expects its IPO to match or exceed SpaceX’s record $75B initial raise ($86.2B incl. greenshoe), underscoring very strong investor demand. The company is preparing to publicly file its S-1 as soon as the end of August, after already filing confidentially, with MS/GS/JPM leading. Anthropic’s revenue run-rate hit $65B by end-July, and it is currently on track to list ahead of OpenAI.
OpenAI/Anthropic:
