Brazil & Europe, Elon Musk & Neocloud “Guppies” 102626

Anthropic’s S-1 is out! Wall Street, Silicon Valley, and Squawk Box are dissecting it and what it means for the AI ecosystem and other AI IPOs. CNBC’s Leslie Picker unpacks the eye-popping numbers and the remaining questions after the landmark filing. Microsoft is offering voluntary buyouts to 27% of its total workforce as the company ramps up its spend on AI compute power. In an exclusive conversation, World Bank President Ajay Banga explains the AI opportunities around the world, including in developed and developing economies. Fresh off the Global AI and Digital Summit in South Korea, he’s focused on developing critical mining infrastructure and AI innovation in agriculture, infrastructure, healthcare, and tourism. Electronic Arts co-founder Bing Gordon, the man responsible for Madden NFL and The Sims, is out with a book of life lessons, co-authored with his daughter.  Leslie Picker - 02:26Ajay Banga - 17:16Bing Gordon - 28:51 In this episode:Joe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinLeslie Picker, @LesliePickerKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

SpaceX has secured a $40 billion debt financing package, Ukraine is disputing Elon Musk’s claim that the country violated Starlink’s terms, and Elon Musk himself is weighing in on neocloud companies, comparing their life spans to those of guppies. In Brazil, Luiz Inácio Lula da Silva won a fourth term, and in Europe, protests rage on. Editor in Chief of The Economist Zanny Minton Beddoes argues that the unrest has little to do with immigration, and everything to do with citizens deeply frustrated by their governments. Plus, BioMarin CEO Alexander Hardy is working to bring drugs to the 30 million patients with rare diseases.  Zanny Minton Beddoes - 10:27Alexander Hardy - 25:10 In this episode:Zanny Minton Beddoes, @zannymbJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

OpenAI is working on a $30 billion funding round from Coatue and the UAE, among others, which would bring the company’s valuation up to $1.25 trillion before Anthropic’s imminent IPO. Elon Musk's ambitions for SpaceX include a merger with Tesla and a strategy for cell towers. President Trump reportedly asked Elon Musk to restore Ukraine’s access to Starshield, but Business school professor Christopher Marquis wants to reform MBA programs, and Moderna’s new vaccine data is good news for melanoma treatment. Plus, CNBC’s Steve Liesman shares more results from his latest All-America Economic Survey, including the approval ratings for President Trump and American sentiment around AI.  Steve Liesman - 15:42Christopher Marquis - 22:46' In this episode:Joe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinSteve Liesman, @steveliesmanKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Ahead of Anthropic’s highly-anticipated IPO on the Nasdaq, Nasdaq CEO Adena Friedman discusses her exchange’s strategy to win listings in the AI IPO race. Tesla reported its latest financials as the board considers the details of a SpaceX-Tesla merger. CNBC’s Steve Liesman shares the results of his latest All-America Economic Survey: sentiment on the economy is about as gloomy as it was immediately after the pandemic. Plus, former Bridgewater CIO Rebecca Patterson has penned a book of investing wisdom for market savvy folks without personal investing expertise. In a wide-ranging conversation, she discusses AI’s weights and buoys for the larger economy, global market risks, and market liquidity.  Steve Liesman - 08:21Adena Friedman - 16:34Rebecca Patterson - 28:26 In this episode:Adena Friedman, @adenatfriedmanJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinSteve Liesman, @steveliesmanKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

SpaceX shares jumped after it reported surging revenue growth and Elon Musk floated a potential merger of the company with Tesla. Altimeter Capital’s Brad Gerstner says Musk needs to make sure a deal is fair for Tesla shareholders and expects at least a 30% premium to where the stock trades today. United Airlines slashed its profit outlook as fuel costs continue to bite. CEO Scott Kirby says airfares will have to go up in order for carriers to be profitable. Brad Gerstner - 18:18Scott Kirby - 47:44 In this episode:Brad Gerstner, @altcapPhil LeBeau, @LebeaucarnewsJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinRyan Anastasio, @Ryan_Anastasio Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In Europe, it’s an autumn season of unrest. Council on Foreign Relations President Michael Froman discusses protests across France, Belgium, Italy, and other EU nations as politics, affordability, and upcoming elections collide for frustrated citizens. Froman also considers the path forward for the war in Ukraine, particularly after President Trump, Russian President Putin, and Chinese President Xi are considering a trilateral meeting about the conflict. OpenAI is reportedly aiming to accelerate fundraising before its own IPO and before Anthropic’s IPO, and Chinese tech giants Bytedance, Alibaba, and Tencent have placed massive chip orders from Nvidia. Plus, Director of Villanova’s Sports Law and Business Program Andrew Brandt is ready for the first NBA faceoffs of the season. The most anticipated game will tip off at Madison Square Garden, where LeBron James will make his season debut at the Knicks and 76ers match-up. Michael Froman - 17:31Andrew Brandt - 28:26 In this episode:Joe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

From the White House, National Economic Council Director Kevin Hassett emphasizes consumer sentiment as key to interpreting economic and inflation data. As national cases of the measles rise, former FDA Commissioner Dr. Scott Gottlieb discusses public health and the FDA’s launch of its Rare Disease Framework Initiative for drug development.  Russian President Putin has floated a summit between himself, Chinese President Xi, and President Trump to discuss ending the war in Ukraine. Ukrainian President Zelenskyy, reportedly not included in that summit, has suggested that the U.S. government’s actions have hindered Ukraine’s war defense, and Treasury Secretary Scott Bessent has fired back at President Zelenskyy’s accusations. Plus, the Elizabeth Holmes documentary scored the largest open for a non-music documentary in two decades, Anthropic has announced an intention to donate 5% of its shares to a “public benefit fund,” and Elon Musk has pledged a SpaceX share to every child in America. Kevin Hassett - 15:32Dr. Scott Gottlieb - 28:13 In this episode:Scott Gottlieb, @scottgottliebMDJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The White House “Super Intelligence” task force held its first meeting yesterday amid growing calls to regulate AI. The group’s chair Jay Clayton joins us on his takeaways from the meeting and why the U.S. needs to be wary of foreign espionage attempts related to AI. Singer and songwriter John Legend’s pet food brand “Kismet” is sponsoring an upcoming Halloween dog parade in New York City. The EGOT-winner talks about why he built the business and his growing portfolio outside of music. Plus, Fed chairman Kevin Warsh refrains from signaling whether there will be another interest rate hike this year and Netflix replaces its Chief Content Officer. Steve Liesman                   02:44Jay Clayton                        17:39John Legend                      34:47 In this episode:John Legend, @johnlegendSteve Liesman, @steveliesmanJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Investors are rotating out of tech stocks amid growing concerns around record-high interest rates and possible overspending on artificial intelligence. Rockefeller Capital CEO Greg Fleming, a Wall Street veteran, discusses his take on the markets and the policy driving unease. New York City Comptroller Mark Levine sent a letter to Anthropic’s CEO Dario Amodei asking the company to delay its upcoming IPO. He says the listing will distract the company from focusing on safety and that the U.S. needs federal regulation on AI. Plus, Ukraine says it will restart strikes on Russian oil refineries and Berkshire Hathaway makes a $330 million investment in Bending Spoons. Greg Fleming                    21:11Mark Levine                      39:26 In this episode:Mark Levine, @NYCComptrollerJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fighting intensified overnight in the Middle East between Saudi-backed forces and Iran’s Houthi rebel allies. Former Biden White House Senior Advisor Amos Hochstein tells us why the U.S. has been sitting out the conflict and that he’s stopped understanding U.S. strategy in the region. Fanatics is upping its advertising spend in its gambling business as it looks to compete with industry giants Fanduel and DraftKings. Founder & CEO Michael Rubin says he believes it is a good long-term business despite persistent headwinds. Plus, the FBI arrests an OpenAI employee who allegedly planted a recording device in a conference room and more Senators come out against President Trump’s diesel deal with Russia. Eamon Javers                   06:04Amos Hochstein             16:09     Michael Rubin                  26:55 In this episode:Eamon Javers, @EamonJaversAmos Hochstein, @amoshochsteinMichael Rubin, @michaelrubinJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinRyan Anastasio, @Ryan_Anastasio Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.