On theCUBE Pod: Stock market gets the jitters and Anthropic files IPO
The hubbub at the New York Stock Exchange was audible on theCUBE Pod last Friday, with concerns rising over the artificial intelligence bubble. Several tech companies, including Intel Corp., Alphabet Inc., Amazon.com Inc., CoreWeave Inc. and Fortinet Inc., saw their stock fall, suggesting that investors may have doubts about all that AI infrastructure spending. At […] The post On theCUBE Pod:…
On theCUBE Pod, analysts John Furrier and Dave Vellante discussed the recent turbulence in the stock market and the potential IPO of Anthropic, a leading AI developer. The hubbub at the New York Stock Exchange was audible, as concerns arose over an artificial intelligence bubble. Several tech companies such as Intel Corp., Alphabet Inc., Amazon.com Inc., CoreWeave Inc., and Fortinet Inc. experienced declines in their stock prices, indicating investor doubts about AI infrastructure spending.
In contrast, Anthropic PBC had filed for an initial public offering with the U.S. Securities and Exchange Commission, marking a significant debut for one of the top AI developers despite failing to generate profits thus far.
The news that NYSE parent company, Intercontinental Exchange (ICE), would partner with cryptocurrency trading platform Hyperliquid to bring perpetual futures markets to the U.S. also stirred interest. Analysts discussed how this could potentially change the exchange landscape, likening it to the impact of cloud computing on data centers. The conversation also delved into Intel's missteps and the potential opportunities for full-stack infrastructure companies amidst the AI boom.
While Alphabet's stock saw a substantial drop of over 12% after reporting slower growth in search revenue, some analysts remain optimistic. Dave Vellante, in particular, views the AI bubble letting out a little air, viewing it as a healthy sign for the AI market's future. "Think of the tulip bubbles in the 1600s," Vellante said, drawing parallels to past market bubbles.
Intel experienced the steepest drop last week, with its stock falling almost 30% after its earnings report. While the company has shifted its focus to CPUs over GPUs, analysts believe it still has potential to recover. Both Furrier and Vellante emphasize that the AI boom is a natural adoption phase, and despite comparisons to historical market bubbles, the phenomenon will continue to evolve and develop over decades.
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