Daily Rundown
October 27, 2026
Chart of the Day
Number of the Day
1087.8
The percentage increase in Anthropic’s revenue in 2025, building on an 841.5 percent jump in the prior year
Quote of the Day
“Anthropic will often make forward investments (especially in compute) that may seem irresponsibly large at first glance.”
From Anthropic’s S-1 filing
Monday’s Highlight
The Dallas Fed manufacturing index (October) improved to 13.4 from a prior 9.8.
Quick Commentary
The Anthropic IPO will potentially be the largest on record, adding to the flood of securities coming to the market to finance the AI boom. Led by SpaceX, IPO proceeds totaled $137.9 billion in the first half of the year, nearly ten times the tally in the first two quarters of 2025 and putting 2026 on track to be the second-strongest year for such activity on record (trailing only the SPAC-led surge of 2021). Corporate debt issuance is also on the climb, up 24.5 percent year-over-year in September. Moreover, it is a safe bet that there is much more to come going forward given the massive investment plans among the largest AI firms. There are echoes here of the latter stages of the internet boom in the 1990s, when IPO and debt issuance both rose strongly in the face of elevated valuations and rising interest rates. That combination eventually brought the cycle to an end, and it increasingly appears to be the most likely driver to turn this one as well.
Today’s Highlights
Consumer confidence
New home sales
Durable goods orders
Case-Shiller home prices
Daily Trivia
What brand’s “Two Great Tastes” ad campaign, which was based on the premise that its two main ingredients would normally be considered incompatible, was so successful in boosting sales that its parent company thought it had made an accounting error?
(Monday’s Question: What commodity was endorsed shortly after it arrived in Europe by Pope Clement VIII, who pushed back against Catholic clergymen objecting to it based on its association with Islam and the Ottoman Empire? Answer: Coffee)