Key facts
- Anthropic, a Claude-developer, filed for a US IPO.
- Meta Platforms plans to raise $95 billion for AI infrastructure.
- SpaceX affiliate Apollo Global Management to buy AI hardware for $40 billion.
- South Korea's KOSPI index rose 3.6%.
Asian stocks followed Wall Street higher on Tuesday, buoyed by the blockbuster US IPO filing of AI chatbot developer Anthropic. The filing, which detailed eye-popping revenue growth and staggering losses, did little to dampen investor enthusiasm for the debt-fueled AI trade. Meta Platforms plans to raise up to $95 billion for AI infrastructure expansion, while an affiliate of SpaceX will buy AI chips and server hardware for about $40 billion. These deals have allayed some concerns about the capital required for AI infrastructure, though worries persist about profitability. The KOSPI index in South Korea, a hub for AI chipmakers like Samsung Electronics and SK Hynix, jumped 3.6%, its biggest one-day gain since early September, though it remains set for a 17% decline in October.