NVIDIA Fallout, Anthropic IPO and Hot CPI Hit Markets
- Panel calls Nvidia's slide quant-driven, not fundamental, with analyst targets barely moving and Microsoft retaking the market cap lead
- Josh Brown: AI isn't one trade, pointing to Amazon up 17% year to date against Nvidia's decline
- Anthropic marketing its IPO at $70-$78 for a $1.4T valuation, oversubscribed, with AMD, Nvidia and Microsoft in the placements
- Claude's new Sheets, Whiteboards and Meetings tools knocked Microsoft and other software names lower on the spot
Anthropic going public at a $1.4 trillion target while shipping office software makes Microsoft both an investor in and a target of its own holding. Nvidia is in buyback blackout until its November earnings report, so it cannot defend itself as hot CPI lifts the two-year yield.