Good afternoon and welcome to Markets Desk.
CoreWeave is commanding serious attention today after revealing its contracted revenue backlog has surged to roughly one hundred four billion dollars as of late June, up from thirty billion just a year ago — yet the company's market value sits at fifty-nine billion, a gap that has investors asking hard questions about how and when that backlog converts to earnings.
Turning overseas, South Korea's Kospi has pushed into technical bull market territory in roughly one month, driven by a powerful re-acceleration in the artificial intelligence trade. The speed of that recovery is notable — it reflects how quickly institutional capital rotates back into semiconductor and tech-adjacent names when AI sentiment firms up globally.
Meanwhile, Goldman Sachs is offering some reassurance on the yen front, estimating that Japan holds roughly one trillion dollars in reserves — enough capacity, the bank says, for at least a couple more rounds of intervention on the scale of what Tokyo deployed last month. That puts a meaningful floor under any near-term yen weakness, and currency traders are pricing that backstop in accordingly.
That's the tape. Markets Desk, signing off the floor.
