Bloomberg Daybreak: Asia Edition

Business and finance news from the Asia-Pacific.
Anthropic PBC's initial public offering is laying bare the stark extremes of the multi-trillion-dollar AI boom business model: astonishing growth paired with uncertainty about demand and the spending required to continue developing the technology. The startup, which publicly filed IPO paperwork on Monday, is poised to be the first major US firm focused solely on building AI software to make its market debut.
A rally in Wall Street tech stocks following Anthropic PBC's filing for an initial public offering carried into Asia, rekindling enthusiasm for the artificial intelligence trade. Crude oil extended its decline. We speak to Paul Dobson, Bloomberg's Executive Editor for Asia Markets.
And - The AI-driven debt boom is creating some of the most attractive fixed-income opportunities in years, eclipsing the appeal of long-dated US Treasuries, according to BlackRock's Rick Rieder. He spoke to Bloomberg TV hosts Haidi Stroud-Watts and Paul Allen.
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Business and finance news from the Asia-Pacific.
Stocks struggled to recover from a volatile week as investors braced for more earnings from megacap tech companies that will offer clues on whether the recent pressure on the artificial intelligence trade will persist. Treasuries rose as crude oil fell. MSCI Inc.'s Asia Pacific equities gauge dropped 0.1% after swinging between small gains and losses. Futures for Wall Street benchmarks made a modest gain. We speak to Sunny Bangia. He covers Asia Equities for Bloomberg News.
And - The Federal Reserve and its peers in the euro zone and Japan will probably keep interest rates steady in the coming week, opting to bide their time before potential further hikes. Three days of decisions starting on Wednesday in Washington are likely to affirm a hawkish stance balanced by a measured pace as policymakers confront inflation risks ranging from surging energy prices to the artificial intelligence boom. Bloomberg's Haidi Stroud-Watts spoke to Natixis Chief APAC Economist Alicia Garcia Herrero.
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Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.
In the US – a look ahead to the next monetary policy decision from the Federal Reserve, along with U.S tech earnings.
In the UK – a look ahead to the UK's annual budget.
In Asia – a look ahead to the next monetary policy decision from the Bank of Japan.
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Business and finance news from the Asia-Pacific.
The global rout in technology stocks this week deepened as investors rotated out of the hottest trade of the year and sought safety in Treasuries and currencies such as the yen. Crude oil extended its gains. After a sharp drop in chip stocks on Wall Street, the weakness spread across Asia, led by South Korea's Kospi Index — a bellwether for the artificial intelligence trade. The index fell 1.5%, putting it on course for its worst close since April as chip heavyweight Samsung Electronics Co. retreated. MSCI Inc.'s Asia Pacific equities gauge fell 0.7%, hovering around levels last seen in July. The rout in the artificial intelligence trade drove investors toward the safety of bonds. Treasuries held the previous session's gains after staging their biggest rally in more than two years. The benchmark 10-year yield, which fell 17 basis points Thursday, traded at 4.97%. Government debt in Japan and Australia tracked that move and advanced. We speak to Winnie Hsu, Asia Equities Reporter.
And - rising anxiety over catastrophic risks from artificial intelligence has spurred a groundswell of calls in Washington and Silicon Valley for new safeguards on the rapidly evolving technology, yet there's little consensus on next steps. For more on this, Bloomberg's Haidi Stroud-Watts and Paul Allen spoke to FailSafe President and Co-founder Wui Foo.
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Business and finance news from the Asia-Pacific.
Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg told investors that a pricey wager on artificial intelligence is delivering results, setting the stage for the company to bet even more aggressively on the market. During its quarterly earnings report Wednesday, the social-media giant boosted its capital spending plans for the year and announced a new class of nonvoting stock that could ultimately be used to help pay for acquisitions and other expenses. Meta CEO Mark Zuckerberg said the company's AI investments were "paying off" during its latest quarterly report. The moves show that Meta has confidence that its already-stratospheric spending on AI is bearing fruit. After struggling to persuade investors to accept ballooning costs, Meta has made headway with its technology in recent months, especially with a new AI agent called Muse. Zuckerberg pointed to that progress as reason to keep plowing ahead.
Tesla Inc. pulled back its spending plans after investment last quarter trailed expectations, clouding Elon Musk's effort to transform the electric vehicle maker into an AI and robotics company. Capital expenditures will be around $20 billion this year, the company said Wednesday after reporting earnings results. That marked a reversal from earlier this year, when Tesla raised the target to more than $25 billion. Tesla had been consistently short of the pace needed to hit its spending goal, particularly after a $4.73 billion outlay in the third quarter. Analysts had expected $7.95 billion on average in estimates compiled by Bloomberg. We speak to Daniel Newman, CEO at the Futurum Group.
And - Barclays hosts its annual Barclays Asia Forum in Singapore. The high-level gathering brings together institutional investors, corporate executives, private wealth clients, and senior Barclays leadership to examine macroeconomic trends, cross-border capital flows, and investment opportunities across the Asia-Pacific region. Bloomberg's Haslinda Amin spoke to Jaideep Khanna, Barclays Asia Pacific CEO.
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