A look at the day ahead in European and global markets from Tom Westbrook <\/p>\n
Anthropic is making a massive bet that AI will \u200ctransform the global economy and that public investors will pay to underwrite \u200cit. <\/p>\n
The prospectus of the US AI company, seen by Reuters, lays out $518 billion in spending plans as \u200bit seeks to stake out the frontiers of a technology pitched as a bigger deal than industrialisation, electricity and the internet. <\/p>\n
It’s headed to market after the November midterms, and in the midst of increasingly public questions \u2014 even from within Anthropic \u2014 about the speed \u200cand direction of AI development. <\/p>\n
This \u2060month an Anthropic researcher quit the firm, warning that the pace of AI development poses an existential threat, possibly within a \u2060decade. Another researcher at the firm said the odds of human extinction exceeded 10%. <\/p>\n
CEO Dario Amodei has called, along with rivals at OpenAI, Google’s DeepMind, Microsoft and xAI, to \u200bslow the \u200bdevelopment of increasingly capable AI systems. <\/p>\n
Markets, for \u200bnow, are staying pretty sanguine despite \u200crisks which, Anthropic’s prospectus discloses, also include the company earning nearly a quarter of its revenue from two customers. A week ago the Nasdaq stood at a record high. <\/p>\n
Yet elsewhere the financial backdrop is growing more hostile. <\/p>\n
Sovereign yields have put in a big rise through September and benchmark 10-year rates trade around their highest for \u200cdecades across major economies. <\/p>\n
Increasingly, investors think that the \u200bdata-centre building boom that’s boosting growth, employment and \u200bcommodity prices is going to \u200bput the economy on a footing where it can bear higher \u200cinterest rates for longer. <\/p>\n
That means a \u200bdurable period where companies \u200bpay more to borrow, households spend more servicing debts and government interest bills go up, leaving less money for social programmes. <\/p>\n
Anthropic’s sale will test whether \u200benthusiasm for the AI trade \u200ccan withstand rising rates and scrutiny. <\/p>\n
Key developments that could influence markets \u200bon Tuesday: <\/p>\n
\u2022 Economics: Canada GDP, US job openings and consumer confidence <\/p>\n
\u2022 Fed \u200bspeakers: Goolsbee and Williams <\/p>\n
(Editing by Sonali Paul) <\/p>\n","protected":false},"excerpt":{"rendered":"A look at the day ahead in European and global markets from Tom Westbrook Anthropic is making a…\n","protected":false},"author":2,"featured_media":630905,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[345,343,344,12858,4546,277392,85,46,218347,125],"class_list":["post-630904","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-global-economy","tag-global-markets","tag-human-extinction","tag-il","tag-israel","tag-public-investors","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/630904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=630904"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/630904\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/630905"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=630904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=630904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=630904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}