A Wall Street tech rally sparked by Anthropic PBC's IPO filing carried into Asian markets, boosting AI-related stocks. South Korea's Kospi Index surged over 4%, led by chipmakers SK Hynix Inc. and Samsung Electronics Co., while the broader MSCI Asia Pacific Index rose 0.8%. Tech fundraising dominated Wall Street, with Meta Platforms Inc. seeking up to $95 billion, Broadcom Inc. arranging a $63 billion chip financing deal, and SpaceX signing a roughly $40 billion equipment-finance lease. Meanwhile, Brent crude fell 0.7% to around $115 a barrel as diplomatic efforts to revive Middle East talks continued. Bitcoin edged above $80,000.
Anthropic's S-1 filing marks a key test for investor appetite toward AI companies after recent valuation concerns triggered a chip-stock rout. Markets also brace for the Federal Reserve's rate decision Wednesday and megacap earnings from Alphabet, Microsoft Corp., Amazon.com Inc., and Intel Corp., which will signal whether massive AI spending is generating returns.
"The key question is whether this week's results can restore confidence in the durability of AI-related demand," said Jung In Yun, CEO at Fibonacci Asset Management Global. Brazilian markets tumbled after President Luiz Inácio Lula da Silva won re-election, raising fiscal concerns. The U.S. midterms and Israel's election add geopolitical uncertainty, while the Fed is widely expected to hold rates steady.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing