Anthropic PBC told prospective investors its third-quarter revenue hit $16.8 billion, according to people familiar with the matter, as the artificial intelligence model maker pushes ahead with plans to go public.

Winnie Cisar, Global Head of Strategy at CreditSights, discusses the strain from heavy corporate borrowing, including debt tied to AI infrastructure. She said individual issuer problems such as CoreWeave’s may coexist with a broader surge in issuance that is challenging investors’ ability to absorb new debt. She speaks to Romaine Bostick on "The Close." (Source: Bloomberg)

The Close brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Vanguard President & CIO Greg Davis, UBS Equity Research Analyst, Large-Cap Banks & Consumer Finance Erika Najarian, Janus Henderson CEO Ali Dibadj, CreditSights Global Head of Strategy Winnie Cisar, DoubleLine Global Sovereign & Emerging Markets Head Bill Campbell, Cisco Chair & CEO Chuck Robbins, Blackstone Global […]

At a forum in Beverly Hills, the discussion focused on obstacles to expanding AI data centers, including rising energy costs and weakening public support for construction. Blackstone’s Mike Forman said infrastructure supply constraints are worsening, particularly around power: utilities that once could connect projects within six to twelve months may now quote waits of up to seven years, require investments as high as $1 billion, and offer less certainty. The panel of Mike Forman, Jessica […]

Janus Henderson CEO Ali Dibadj said the firm is energized by its move to private ownership and is using the flexibility to invest in people, technology including AI, new products and client service. He said quarterly earnings pressures had constrained those investments, despite the firm’s growth as a public company. He speaks with Romaine Bostick on "The Close." (Source: Bloomberg)

Nvidia CEO Jensen Huang said he would halt the supply of chips to a customer that was developing unsafe AI software, though he doesn’t believe that the current level of concern about the technology is warranted. AI executives such as Anthropic CEO Dario Amodei have proposed an industrywide slowdown to address the concerns. Meantime, Anthropic held an investor day Wednesday as it advances plans for a potential IPO at an approximately $2 trillion valuation, amid growing concerns about AI […]

Vanguard President and CIO Greg Davis said the CPI report was one data point for markets and the Federal Reserve to assess, while noting inflation remains above the Fed’s 2% target and the Fed still has work to do. Davis said Vanguard generally expects one to two rate hikes over the coming months, depending on incoming data. He speaks with Romaine Bostick on "The Close." (Source: Bloomberg)

A merger between Elon Musk’s Tesla Inc. and SpaceX could be announced ahead of the electric-vehicle maker’s annual general meeting, according to analysts at Barclays.