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After a $2.5 Trillion Wipeout, Tech Investors Brace for More Pain

A stock rally fueled in part by artificial intelligence is being tested after Democrats’ landslide election victories.

© Brendan McDermid/Reuters

Yesterday’s $2.5 trillion sell-off of major tech stocks has investors on edge about the durability of the artificial intelligence sector.

Its Investors Say Kalshi Is Worth $40 Billion. Is an I.P.O. Next?

The prediction market raised $1 billion in a new funding round and landed a market value almost double that of rival Polymarket. But legal challenges to its business persist.

© Jeenah Moon/Reuters

Tarek Mansour, the C.E.O. of Kalshi, said there had “been discussions” about a public offering for the company.

Its Investors Say Kalshi Is Worth $40 Billion. Is an I.P.O. Next?

The prediction market raised $1 billion in a new funding round and landed a market value almost double that of rival Polymarket. But legal challenges to its business persist.

© Jeenah Moon/Reuters

Tarek Mansour, the C.E.O. of Kalshi, said there had “been discussions” about a public offering for the company.

Jio’s Blockbuster I.P.O. Gives India’s Investors a Lift

Jio Platforms shares surged on their first day of trading, even as questions mount about the telecom firm’s growth prospects and a new generation takes charge.

© Francis Mascarenhas/Reuters

From left, Mukesh Ambani, who leads the Reliance Industries conglomerate, with his sons, Akash and Anant, at the National Stock Exchange of India in Mumbai on Wednesday to mark the listing of Jio Platforms.

In Anthropic I.P.O., Goldman and Morgan Stanley Slug It Out for Top Bank

Anthropic named the Wall Street firms lead underwriters on its upcoming public offering, a role that will generate generous fees and enormous prestige.

© Victor Llorente for The New York Times

The Goldman Sachs headquarters, center, in Lower Manhattan.

In Anthropic I.P.O., Goldman and Morgan Stanley Slug It Out for Top Bank

Anthropic named the Wall Street firms lead underwriters on its upcoming public offering, a role that will generate generous fees and enormous prestige.

© Victor Llorente for The New York Times

The Goldman Sachs headquarters, center, in Lower Manhattan.

Musk Is Predicting ‘Guppy-level Death’ for Scores of A.I. Companies

Elon Musk sees many artificial-intelligence infrastructure companies being shut out of the debt market, a warning that could weigh on markets.

© Haiyun Jiang for The New York Times

Elon Musk is the latest to warn of an A.I. shakeout, singling out neoclouds as facing “guppy-level death and consolidation.”
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