US Stocks Close: Nasdaq Rises 0.82%, SOX Gains Nearly 3%; AI-Related Stocks Rise After Anthropic Files Prospectus, Tesla Rises Over 5%

Tesla (TSLA) rose 5.21% to $391.62.

Barclays upgraded Tesla's rating from "Neutral" to "Overweight" and raised its price target from $370 to $450. The bank is optimistic about the prospects of a growth recovery in Tesla's core automotive business, while noting that commercialization progress for Robotaxi, energy storage orders, and a potential merger with SpaceX could all serve as catalysts driving the company's valuation higher.

The performance of major tech stocks today is shown in the chart below:

The Philadelphia Semiconductor Index rose 2.82% to 11,083.47 points, with all 30 constituents gaining.

Memory stocks rebounded, with SK Hynix (SKHY) up 4.09%, Western Digital (WDC) up 3.63%, Micron Technology (MU) up 2.98%, Seagate Technology (STX) up 2.18%, and SanDisk (SNDK) up 1.42%.

Anthropic Files Publicly for IPO, Plans to List on Nasdaq Under Ticker "ANT"

Anthropic officially filed Form S-1 with the U.S. Securities and Exchange Commission (SEC) on Monday, planning to list on the Nasdaq Global Select Market under the ticker symbol "ANT." The number of shares offered, price range, and final deal size have not yet been determined. According to the prospectus, the company's revenue in the first half of 2026 reached $16.3 billion, roughly 14 times that of the same period last year. Second-quarter revenue reached $11.6 billion, surpassing the $4.6 billion revenue for the full year 2025. Goldman Sachs and Morgan Stanley will lead the offering, with formal roadshows expected to launch as early as the week of November 9, Bloomberg reported.

Meta Launches Approximately $35 Billion Equity Financing, Plans Up to $60 Billion At-the-Market Stock Offering Program

Meta announced the launch of two concurrent underwritten public offerings totaling approximately $35 billion, comprising $22.5 billion of Class A common stock and $12.5 billion of depositary shares representing mandatory convertible preferred stock. The common stock offering will be conducted via forward sale agreements, and the company does not expect to receive initial proceeds at the closing of the offering. Additionally, Meta plans to establish an at-the-market equity offering program of up to approximately $60 billion after its Class C non-voting stock begins trading, expected no earlier than the first quarter of 2027, with the timing and terms yet to be finalized. Nvidia, AMD, and Broadcom have expressed interest in purchasing a combined total of up to $5 billion of Class A common stock, though such expressions of interest do not constitute binding commitments. Meta stated that the proceeds will support its AI infrastructure and related business investments.

SpaceX and Apollo Agree on $40 Billion GPU Financing Lease Commitment

SpaceX has entered into a binding financing lease commitment with entities managed by Apollo Global Management. The entities will purchase GPU clusters and supporting equipment and lease them back to SpaceX, in an arrangement valued at approximately $40 billion. The transaction remains subject to customary closing conditions and is expected to close by the end of 2026, with the lease commencing upon equipment delivery in the first half of 2027. The arrangement will provide financing support for SpaceX to expand its ground-based AI computing capacity.

SK Hynix Reportedly Preparing Additional 50 Trillion to 60 Trillion Won Shareholder Return Plan

SK Hynix is preparing an additional shareholder return plan of 50 trillion to 60 trillion won (approximately $35 billion to $42 billion), which may include special dividends and further buybacks, Seoul Economic Daily reported, citing industry sources. Combined with the recently completed share repurchase of approximately 40 trillion won, the company is considering total full-year shareholder returns of 90 trillion to 100 trillion won. The plan is expected to be reviewed by the board of directors on October 28 and announced alongside third-quarter financial results, pending official confirmation by the company, according to the report.

OpenAI Releases GPT-6.1 Terra, Slashing Standard API Pricing by 50% Compared to Previous Generation

OpenAI released GPT-6.1 Terra on October 26, focusing on enhancements in visual understanding, computer operation, and natural language writing for routine tasks such as document processing, form filling, and cross-application workflows. OpenAI stated that the new model's standard API pricing is 50% lower than that of GPT-5.6 Terra, aimed at reducing usage costs for high-volume office automation tasks.

Microsoft Offers Voluntary Separation Packages to Approximately 60,000 Employees

Microsoft is offering voluntary separation packages to approximately 60,000 eligible employees across select teams in the U.S., Canada, India, and the U.K., with severance benefits comparable to the company's standard packages. The figure represents the number of eligible employees rather than finalized departures. Chief People Officer Amy Coleman stated that the program provides financial support and career planning resources for employees considering leaving the company, while helping participating teams realign staffing with business needs.

Morgan Stanley: Data Center ABS Spreads May Continue to Widen

Morgan Stanley strategists including James Egan and Carolyn Campbell noted in an Oct. 22 report that spreads on asset-backed securities (ABS) supporting data center construction are expected to widen further as companies accelerate AI project financing across various debt markets. The bank views the spread of around 200 basis points on AAA-rated data center ABS as attractive, but investors generally expect room for further widening. Lower-rated securities face a similar trend, though the pace of widening may slow.

The strategists noted that investors are increasingly focused on sponsor risk and questioning whether existing financing structures can adequately address changes brought by AI development over the next decade. Therefore, investors generally demand structures featuring gradual principal amortization or lower leverage. Meanwhile, some ABS backed by GPU loans have begun entering the market. Investors expect such securities to offer shorter maturities, amortize principal prior to maturity, and deliver higher spreads. Morgan Stanley believes that if structural designs meet investor requirements, relevant transactions are likely to gain market acceptance, though pricing will still depend on underlying contract quality and counterparty risk.

Morgan Stanley: Semiconductor Correction May End by Mid-November, with 10% to 15% Downside Risk Remaining

A team of strategists at Morgan Stanley led by Mike Wilson believes the semiconductor sector's correction has entered its final stage, with pressure expected to ease by mid-November, though further declines remain possible before then. The team also maintained its prediction of the S&P 500 Index reaching 8,000 points by year-end. The strategists noted that market doubts over the timing and scale of AI revenue realization have made semiconductors and other sectors benefiting from capital expenditures a focal point of financing concerns. As more financing activities proceed, capital diversion pressure from new issuances may continue to weigh on market sentiment until financing is completed. Based on technical analysis and comparisons with previous silver market trends, the team warned that the semiconductor sector could still fall another 10% to 15%, with the Philadelphia Semiconductor Index potentially finding support around 9,500 points.

This content was translated using AI and reviewed for clarity. It is for informational purposes only.