This is very Unusual.
We saw crazy decoupling this week with crypto and stocks going in completely opposite directions. Total Crypto market cap is up +13% after adding $291 billion. Meanwhile US stocks erased -$1.4 Trillion in the same period with S&P 500 falling -1.83%. Source: Bull Theory
Anthropic is preparing to file publicly for its mega-IPO as soon as the end of this month, per Bloomberg.
Anthropic expects its IPO to match or beat SpaceX's record $75 billion raise. Q2 revenue was $11.5 billion. The 2025 net loss was nearly $42 billion. Investors are floating a $2 trillion valuation based on projections of $190 to $200 billion in revenue by 2028. Dario Amodei wants super-voting shares with about 2% ownership. Source: Yahoo Finance
Yesterday, Wal Mart stock had its worst day since 2022, down 10%
WalMart reported ugly same store sales, which grew below the lowest Wall Street estimate, a slowdown the company blamed on disappointing sales at its Health & Wellness pharmacy division. As a result, $WMT stock plunged more than 10%, Source: Zerohedge
An experimental personalized cancer vaccine from Merck and Moderna showed positive initial results in its first-ever late-stage trial.
The companies announced it Wednesday, bringing them one step closer to filing for approval of the treatment option. Merck shares climbed more than 12% on Wednesday, while Moderna’s stock soared about 177%. The size of those moves reflect the companies’ relative size entering Wednesday: Merck’s market cap was around $333 billion, while Moderna’s sat near $25 billion. Meanwhile, short sellers betting against Moderna $MRNA are sitting on $5.5 billion paper loss in a single day after the stock jumped 177%. Their total losses on the trade this year now stand at $7.7 billion. Source: Bull Theory CNBC
Moderna's $MRNA 177% gain yesterday was the largest by any S&P 500 stock this century
Source: Barchart
Anthropic just passed OpenAI in quarterly revenue for the first time more than doubling to $11.6B while OpenAI grew 18% to $6.7B.
Anthropic also reached a small operating profit making the gap even more notable as the two leaders scale on very different trajectories. Source: Shay Boloor
Amazon $AMZN just announced plans to grow its Louisiana data center investment from $12B to $18 billion with a third data center campus.
Source: Evan
The Anthropic 20% distressed discount
Source: zerohedge
