Anthropic Filed | Brent Ran Both Ways | Apollo Is Buying Into Mubadala Capital

AI's biggest names asked the stock market for money, and chip stocks still rose.

The S&P 500 rose about 0.7%, and the Philadelphia chip index about 2.8%. Nvidia (NVDA) rose about 2.4%, and Micron (MU) about 3%. Lumentum (LITE) jumped about 8% and Coherent (COHR) almost 6% after StoneX started both at Buy.

Anthropic filed publicly to list on Nasdaq under the symbol ANT. Its S-1 shows $16.3 billion of revenue in the six months to June, against about $1.2 billion a year earlier. Its first-half net loss was $80.7 billion, mostly non-cash fair-value charges. Size and price are not set.

Meta launched about $35 billion of stock offerings. Meta plans about $60 billion more from next year. Nvidia, AMD (AMD) and Broadcom (AVGO) gave non-binding indications for up to $5 billion. Meta (META) fell about 1.9%.

Verizon raised its outlook for a third straight quarter and still fell. It added 406,000 phone customers, about twice forecasts, but revenue of $34.3 billion missed. Verizon (VZ) fell about 3.5%.

Suppliers in the Order Book

AI's builders now need outside money, and their suppliers are offering some of it. Meta launched $35 billion of equity and plans up to $60 billion more. Three chipmakers signaled up to $5 billion. Chip stocks rose the same day a top customer asked for cash. Part of AI's funding could circle back from the companies that sell to it.

Brent swung more than $3 on talks that ended without a deal, and EQT agreed to buy Range for stock.

Brent traded from $114 to $117 and back. It settled near $116, down about 0.8%, and U.S. crude was near $102. Talks in Tehran with Saudi, Pakistani and Turkish officials ended with no deal announced.

The Houthis said they hit pumping stations on Saudi Arabia's East-West pipeline. The line carries crude to the Red Sea, away from Hormuz. Saudi Arabia has not confirmed the claim. Murban, a grade that also ships around the strait, traded about $3.40 over Brent in Asian trading.

EQT (EQT) agreed to buy Range Resources (RRC) for 0.987 of its shares each. The combined company would top $50 billion in enterprise value. Range jumped about 18%, closing about 1% below its deal value. EQT slipped about 1.4%.

The Premium Moved to the Pipes

Oil's war premium is moving rather than shrinking. Brent swung more than $3 on a day that brought talks, a claimed pipeline strike and no deal. Murban, which also avoids the strait, traded at a premium to Brent. A truce over Hormuz would not by itself protect the routes built to avoid it.

Texas factories paid more as orders slowed, and Brazil had its worst day since 2020.

Texas factories are paying up for materials while new orders fade. The Dallas Fed's raw-materials price index rose to 55.3, about twice its long-run average. New orders fell to 9.3 from 30.7.

The Treasury sold $69 billion of two-year notes at 4.708%. Indirect bidders, a group that includes foreign buyers, took 45.7%, below their recent average of about 58%. Kalshi's quarter-point hike contract for Wednesday rose to 9 cents from 6 by early afternoon.

Brazil's stocks had their worst day since March 2020. The Ibovespa fell as much as 17% and closed down 13.9%. Brazil's Treasury cancelled two bond auctions and bought back about R$7.1 billion of notes. The iShares MSCI Brazil ETF (EWZ) closed down about 20%. XP (XP) lost 48%. An Argentina fund (ARGT) fell about 5%, while the broad emerging-markets fund (EEM) fell 0.3%.

A Cost Shock Walks Into the Fed

Wednesday's decision now comes with a cost shock to read. A Texas gauge of input prices ran at twice its norm while the new-orders index fell by more than two-thirds. Hike odds edged up, and indirect demand for two-year notes thinned. The Fed has to weigh rising costs and slowing orders in the same week.

A health system paid up for surgery centers, and Apollo is buying into a Gulf manager.

Surgery Partners agreed to a $23.50-a-share buyout by an affiliate of Bon Secours Mercy Health. That is a 49% premium. Bain Capital, which owns about 39%, will roll its whole stake at a price about 9% below its own 2025 offer. Surgery Partners (SGRY) closed near $23.25.

Apollo is buying a minority stake in Mubadala Capital in Abu Dhabi. Apollo and other new holders are expected to commit $5 billion at the initial close. Apollo (APO) rose about 1.4%.

SpaceX's "closed" $40 billion financing is a lease commitment, its filing shows. The lessor is managed by Apollo. SpaceX (SPCX) has not set the rate, and closing conditions remain.

Private Money Bought the Platform

Private money is buying the machinery as well as the assets. Apollo is buying into a Gulf manager, and its lessor stands behind SpaceX's chip lease. Bain will roll its stake rather than sell, even below its old price. The platform, with its fees and leases, is what this money keeps.

Bitcoin held near $80,000 while its biggest corporate buyer sat out.

Bitcoin traded just under $80,000 after a low near $79,300. Strategy bought no bitcoin last week and bought back its preferred instead. It spent $204.9 million buying back STRC preferred. Strive bought 6,182 bitcoin and set up a program to sell up to $1 billion of 15% preferred. Strategy (MSTR) fell about 4.2%, and Strive (ASST) about 9%.

Circle fell 7% after Mizuho argued AI assistants could steer savers away from USDC. Mizuho kept its Underperform rating and cut its target to $43 from $45. Circle (CRCL) closed down about 7.1%, and Coinbase (COIN) about 3%.

The Bid Got More Expensive

Bitcoin's corporate demand now costs more to fund. The largest holder spent its cash on its own preferred, and the most active new buyer is paying a 15% coupon. Their shares fell on a rising day while bitcoin barely moved. The coin held its price, and buying it got dearer.

Monday showed who is paying for growth.

AI's leaders turned to new shareholders and their own suppliers. Brent swung on talks that ended without a deal, and Texas factories paid more as orders slowed. Bain is rolling its stake, Apollo is buying in, and bitcoin's corporate buyers paid more to keep buying.