Welcome to Markets Desk, your midday read on what's moving markets and why.
Anthropic's revised S-1 filing is turning heads on the Street. The Claude maker reported seventeen billion dollars in third-quarter revenue and disclosed purchase commitments approaching nine hundred billion dollars — staggering forward demand that frames what could be one of the most closely watched IPOs in recent memory.
That valuation question is exactly what Howard Marks has been wrestling with publicly. The Oaktree co-founder argues that pricing AI companies like Anthropic is genuinely treacherous — five-year earnings visibility is essentially nonexistent, and he notes that recent stumbles in the sector have quietly punctured what he called the bubble of infallibility surrounding artificial intelligence.
Shifting from software to spectrum, SpaceX is reportedly eyeing Boost Mobile as a potential entry point into the consumer wireless market. The acquisition would give Elon Musk's company an existing customer base and licensed spectrum, accelerating its Starlink direct-to-cell ambitions without building a retail wireless business entirely from scratch.
That's the tape. Markets Desk, signing off the floor.
