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Claire Yubin Oh10/7/25

IBM rises after announcing partnership with Anthropic that will integrate Claude into IBM’s software portfolio

IBM jumped as much as 7.5% in early trading on Tuesday after announcing that the company is partnering with Anthropic to integrate its AI model Claude into IBM’s software offerings. No financial details were released.

Per IBM’s press release: “Through the partnership, Claude will be integrated into select IBM software products, starting with IBM’s new AI-first integrated development environment (IDE), designed with advanced task generation capabilities for enterprise software development lifecycles (SDLC), including software modernization.”

As part of the partnership, IBM has also created a guide that helps businesses build and use AI agents, including “best practices guides, reference architectures, and open-source tooling developed from IBM’s experience deploying AI across thousands of client environments.”

By making Anthropic’s models readily accessible to its customers, IBM is doubling down on its AI offering — though it’s unclear how this new partnership with Anthropic will impact its own AI models, like Granite.

For Anthropic, this partnership builds on its momentum in the enterprise arena — yesterday the company announced a deal with Deloitte to roll out Claude to more than 470,000 employees across 150 countries.

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Markets droop as AI credit fears grow and jobs report looms

The S&P 500, Nasdaq 100, and Russell 2000 all slumped on Monday.

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Bitcoin-sensitive stocks hammered as crypto declines

Bitcoin-sensitive stocks tumbled Monday, enduring a much steeper drop than the keystone crypto asset itself, which was down nearly 4%, falling below $87,000, as of 12:20 p.m. ET.

Goldman Sachs’ themed basket of bitcoin-sensitive equities was down more than 8%. (It consists of companies tied to bitcoin, either through mining, digital payments, crypto investment, or blockchain technology.) It was one of the worst performers among Goldman’s thematically curated baskets of shares on Monday.

Among the basket’s constituents, miners Cipher Mining, CleanSpark, Hut 8, TeraWulf, and IREN were getting the worst of it.

At midday, the basket was on its way to its worst day since November 24, when bitcoin was also languishing below $90,000 and the broader tech sector was going through a brief downturn related to rising worries about durability of the AI boom.

Among the basket’s constituents, miners Cipher Mining, CleanSpark, Hut 8, TeraWulf, and IREN were getting the worst of it.

At midday, the basket was on its way to its worst day since November 24, when bitcoin was also languishing below $90,000 and the broader tech sector was going through a brief downturn related to rising worries about durability of the AI boom.

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Nvidia’s favorite stocks are getting shellacked as AI credit risk spreads

Nvidia’s “House of GPUs” is looking a little wobbly.

Shares of Applied Digital, CoreWeave, and Nebius — three of the four biggest equity positions held by the chip designer as of September 30 — are getting crushed on Monday.

Nvidia owned about $3.6 billion worth of these data center and neocloud stocks (with the overwhelming majority in CoreWeave) per its most recent 13F filing.

The AI credit risk that’s been most talked about in reference to Oracle’s widening credit default swaps spreads is also present in some of these firms, as well.

An Applied Digital bond due in 2030 is trading below $96 for the first time this month. That issuance was made to support data centers where CoreWeave will be the main tenant.

CoreWeave, which earlier this year received warrants enabling it to purchase a large chunk of Applied Digital shares as part of a data center leasing deal, sank last week after announcing a $2 billion convertible note offering that was later upsized.

Of course, it’s not just Nvidia-owned stocks, but the entire data center ecosystem that’s under pressure on Monday. Cipher Mining and IREN are also getting walloped — with Monday’s crypto tumble also likely weighing on these two bitcoin miners turned data center companies.

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