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Luke Kawa

Microsoft, Nvidia investing in Anthropic; Anthropic to buy $30 billion in Azure computing capacity

Well, this is the Platonic ideal of a circular AI deal.

In a joint press release, Microsoft, Nvidia, and Anthropic (maker of the Claude genAI) announced a strategic partnership that includes a slew of 10- and 11-digit investment plans:

  • Anthropic will purchase $30 billion of computing capacity from Microsoft’s Azure.

  • Anthropic’s commitment includes up to 1 gigawatt in computing capacity that will be served through Nvidia’s Grace Blackwell and (yet to be released) Vera Rubin systems.

  • Microsoft is investing up to $5 billion in Anthropic.

  • Nvidia is investing up to $10 billion in Anthropic.

That’s revenues for Microsoft and Nvidia, and two high-profile investors for Anthropic.

Bank of America analysts have argued that these circular-seeming deals are a way for leaders in the space to beef up their potential addressable market that “could multiply future benefits.”

Anthropic announced its foray into data centers last week with plans for $50 billion in custom-built locations in partnership with Fluidstack. The company is targeting $70 billion in revenues by 2028, which would help it support this capex binge.

Despite the massive numbers being tossed around here, Anthropic said that Amazon’s AWS would remain its primary cloud provider, per Bloomberg.

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Luke Kawa
7/13/26
Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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J. Edward Moreno

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

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markets
Paige Oamek

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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