Episode summary
AI Rally Sets Emerging Stocks Up for Best Streak Since September | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · 29 min · Hosts: Carol Massar, Tim Stenovec · Guests: Brody Ford, Bailey Lipschultz, Jenny Rooke
Summary
AI enthusiasm lifted emerging-market stocks and the most immediate catalyst was CoreWeave’s earnings, which eased fears that the neoclouds would need to rely on distressed financing. The host and a tech reporter said CoreWeave’s message that it could use customer prepayments and vendor financing, rather than unsecured debt, made investors more comfortable, even as the company remains far below prior highs and highly leveraged. The broader point was that these AI infrastructure names are still volatile businesses built on heavy capex and continued revenue growth.
Attention then shifted to Anthropic’s planned IPO, which a senior IPO reporter said is already multiple times oversubscribed and potentially being marketed at a valuation of $1.5 trillion or more. The discussion emphasized that demand is broad, including large anchor orders and likely retail participation, but that the real test will come as pricing is finalized later in the week. The reporter also said a successful deal could help keep OpenAI’s public-market timeline on track.
The second half focused on biotechnology and AI. Jenny Rook argued that AI is becoming a general-purpose tool across biotech, from speeding FDA filings and internal workflows to improving data generation and interpretation. She said the real moat is not just software, but high-quality data, and that the U.S. still needs stronger funding, regulation, and manufacturing capacity to stay competitive with China.
Key takeaways
- CoreWeave’s guidance calmed AI investors because the company said it can use customer prepayments and vendor financing instead of hitting the unsecured debt market.
- The host noted CoreWeave is still down more than 66% from last year’s highs, underscoring how volatile the neocloud trade remains.
- The senior IPO reporter said Anthropic is more oversubscribed than SpaceX was at the same point in marketing, with demand coming from large anchor orders and retail channels.
- Jenny Rook said AI is already improving biotech workflows by accelerating FDA filings, collaboration, and pipeline development rather than only driving headline-grabbing compute spend.
- Rook argued that in biotech the moat comes from the right quality and quantity of data, not just access to AI tools.
Notable quotes
“we have a couple different ways to raise funds, we're not going to be hitting the unsecured debt market”
“they're incredibly leveraged, right? And so last night, Corweave was able to say that the leverage maybe they're handling it well”
“the view is really get out and raise as much money as you can in this moment”
“AI can only be as good as the right data for the question you're asking and making sure that it is high quality as you're using it”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. This is Bloomberg Business Week Daily, reporting from the magazine that helps global leaders stay ahead with insight on the people, companies, and trends shaping today's complex economy. Plus, global business, finance, and tech news as it happens. The Bloomberg Business Week Daily podcast with Carol Masser and Tim Stenc.
We're going to kick it off with Brody. Brody, of course, is Bloomberg News tech reporter out in our San Francisco news bureau with what was in that coreweave earnings that have made AI investors breathe a sigh of relief. Brody, good to have you here. What part of that report was so important to investors that they are rushing into shares of core, rushing into cl uh other neo clouds, rushing into almost anything AI related today.
Yeah, thank you for having me. We have been having a lot of apocalyptic type fears toward the Neoclouds in the last couple weeks. And so when they came out and said that we have a couple different ways to raise funds, we're not going to be hitting the unsecured debt market. We're going to be able to get customer prepayment, be able to get vendor financing. This is what really helped made people feel better about the situation,
Brody. But if you go back and look at just Coreweave since it went public, I mean, this is a company that's still down more than 66% from those highs of last year. Even with today's 25% increase when you zoom out on the chart, I mean that it's climbing a hill, but it's at the bottom of that hill.
These are really volatile companies. I mean the Neo clouds, just as a recap, they have made their business on the compute shortage saying that we can get Nvidia chip allocation.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- emerging markets
- ai spending
- cloud infrastructure
- chip demand
- ipo optimism
Companies and tickers mentioned
- CoreWeave
- Anthropic
- Genoa Ventures
Watch the episode
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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