Business • Oct 19
Nasdaq futures jump after last week's rout — but the warning signs aren't gone.
The setup
Last week, Wall Street decided the AI trade was broken.
This morning, it changed its mind — at least until the next headline.
The bounce, in numbers
Why last week broke
Good news that looked like bad news.
Anthropic's Q3 revenue hit $16.8B — spectacular, yet it spooked the market. When even a blowout quarter scares investors, the fear isn't failure. It's the bill.
CoreWeave plunged 25% on worries about its debt-funded data-center expansion.
The warning the bounce doesn't fix
"AI credit spreads are at the widest levels of the year."
— Goldman Sachs traders. Bond investors want proof that hundreds of billions in data-center spending will ever earn its keep.
What helped Monday
Cheaper oil and cheaper money are oxygen for growth stocks. Both are fragile.
What decides it
This is the week that settles the argument.
Meta and Tesla report Wednesday. SpaceX reports Tuesday. If AI revenue catches up with AI spending, the rout becomes a buying opportunity. If not — the credit market was right.
Global Insight
Read the full breakdown — numbers, quotes and what to watch.
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