US stocks fell yesterday as investors digested a hot inflation report 

US 10Y yield re-crossed 5%

US 2Y yield surged 18 bps

Dollar rose 0.5% in its best day since September as inflation data stoked rate hike bets

SoftBank posted its first loss in two years after taking a $3.7B write-down on US data center projects and other AI valuations globally, including Intel's 60% drawdown (CNBC)

CoreWeave beat Q3 revenue estimates and lifted guidance as demand for AI infrastructure remains strong despite concerns of a market slowdown (CNBC)

What we're watching this week:  

Full calendar here

Anthropic is powering through with the most important IPO of all time despite the historic selloff. Investors are nonetheless pressuring the firm to reduce its ambitions to a more humble $1.5T valuation

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Wall Street bonuses are set to rise for a third-straight year (RT)

US CPI rose 0.4% in October (CNBC)

Investors pile into defensive stocks amid fears bull market may be over (FT)

Traders who rushed to bonds for haven get clapped anyway (BBG)

Global macro funds seen as next positioning risk for US stocks (BBG)

AI rout has investors scouring EM for bargains (BBG)

AI debt blowups become fodder for ETFs aimed at retail investors (BBG)

US commerce department has been delaying Megaspeed's inclusion on blacklist (FT)

Investors sued Nvidia and Jensen Huang (RT)

Hong Kong listings hit the highest since Covid (BBG)

Odds of Marvell and Lumentum's record $115B deal closing is just 50% (BBG)

Hedge funds ask regulators to go slow in push to 24/7 trading (BBG)

CFTC postpones Wall Street push for AI compute futures (FT)

Banks are seeking to rein in soaring AI agent costs (RT)

OpenAI losses expand even as revenue rises to $10B in Q3 (WSJ)

Anthropic filing snafu jolts investors ahead of IPO (BBG)

Anthropic founders' stakes are worth $18B apiece at IPO price (WSJ)

SEC fines fell to an 18-year low (WSJ)

IBM will end immigration sponsorship in biggest unit (BBG)

More deals screened: a first-pass screening memo on each CIM, measured against your criteria

Faster to term sheet: data room to term sheet in hours, with sensitivities and downside cases still run

Time for judgment: your deal team's time reserved for the work that needs it

$42B-listed waste management giant GFL Environmental rejected buyout proposals from Blackstone and Brookfield and will stay public

Clearlake Capital is exploring a $3.5B sale of packaging company IPG

Diamondback Energy and KKR agreed to jointly acquire a 70% stake in water firm Deep Blue Midland Basin from Five Point Infrastructure for $2.1B 

Smart ring maker Oura Health will acquire AI-native primary care startup Counsel Health for $625M

IDP ​Education, the administrator of the IELTS english-language exam, is considering a revised $572M takeover offer from Blackstone representing an 80% premium

Biotech MaxCyte agreed to acquire reagent supplier Akron BioProducts from Arcline for $152M

German industrial conglomerate Siemens agreed to buy Lauterbach to expand its chip-design portfolio

RBC Asset Management agreed to acquire $12B AUM Aussie asset manager Yarra Capital Management from TA Associates and Amova Asset Management

AstraZeneca acquired vaccine developer Omniose

Coal trading giant Javelin Global Commodities acquired critical minerals firm Derek Raphael & Co.

Abu Dhabi SWF Mubadala agreed to acquire a minority stake in MM secondaries investor LSV Advisors

UAE energy and marine services company NMDC Group plans to announce an acquisition next month

AI model training startup Mercor raised a $750M Series D at a $20B valuation from Benchmark, Felicis, Fundomo, Nvidia and others

Path Robotics, a manufacturing robotics developer, raised a $300M Series E at a $2.45B post-money valuation led by Georgian

Blue J, a Canadian tax research and advisory platform, raised a $176M Series E at a $700M valuation led by JMI Equity

Ribon, a sovereign cybersecurity startup, raised $200M across several rounds at a $1.5B valuation led by Founders Fund, Sequoia, and General Catalyst

Clara, a corporate expense-management startup, raised $105M including a $65M Series C led by Citius, Kaszek Ventures, and DEG

TensorWorld, a Chinese physical AI startup, raised $105M across seed and seed+ rounds co-led by Cathay Innovation, Sequoia China, Ant Group, Hillhouse Capital, and Meituan Strategic Investment

Sparxity, a sparse AI chipmaker, raised a Series A bringing total funding to $90M led by ICM HPQC Fund

Daylight Security, an AI-native cybersecurity company, raised an $80M Series B led by Goldman Sachs Alternatives

Reflect Orbital, a space-based solar reflector startup, raised $73.5M in new funding from Sequoia, Lux Capital, and Starship Ventures

Bay, an enterprise AI security startup, raised a $50M seed round from YL Ventures, Striker Venture Partners, and others 

Index Industries, a startup building technology and infrastructure to make US housing broadly investable, raised a $50M seed round led by Lightspeed

Alta, a tokenized finance infrastructure startup, raised a $47.5M Series A led by Index Ventures 

Mosaic Intelligence Labs, a spatial-intelligence-for-surgery startup, raised a $47M seed round from 8VC, Fundomo, and others

Garage, an AI-powered marketplace for America's essential equipment, raised a $41M Series B led by Invus Opportunities 

Graphon Labs, an AI lab building persistent intelligence, raised a $35M Series A led by RRE Ventures

Tendrils Compute, a startup rebuilding the microprocessor from first principles, raised $30M led by Benchmark

Nidus, an industrial AI and robotics company deploying embodied intelligence in defense factories, raised $30M in funding backed by Kleiner Perkins and Costanoa

General Translation, a full-stack localization startup, raised a $27M Series A led by a16z

Finite State, a developer of supply chain risk management software, raised a $27M Series C led by The O.H.I.O. Fund

Lumbra, an AI agent platform for sensitive environments, raised a $25M Series A co-led by Point72 Ventures and Ansa

Sumary, an AI accounting software startup, raised a $25M seed round led by Singular

WhiteMatter, an agentic security startup, raised a $20M Series A led by Blumberg Capital

Marble, a startup building institutional frontier markets trading and AI infrastructure finance, raised an $11M seed round led by Polychain Capital

Anthropic is seeking to raise $65B to $90B at a $1.5T+ valuation in its IPO

UK cloud firm Nscale is considering delaying ‌its $3B US IPO

TSMC will invest $1B across Anthropic and OpenAI 

Africa's Dangote Cement paused plans for a $1B London listing due to market volatility

Blackstone will acquire a 15.6% stake in Indian shadow lender IIFL Finance for $532M

Shareholders of French fuel retailer Rubis want to block a proposal to grant $505M of stock to general partners as part of a plan to convert itself to a joint stock company 

Chinese chip firms Xinde Semiconductor and Denglin Technology raised a combined $300M in Hong Kong IPOs

Barrick Mining filed for an IPO of its North American gold assets

Fox Corp. raised $8.6B in an investment grade bond sale to fund its $22B acquisition of streaming platform Roku

Vanguard raised $4B in a private bond placement to fund its $4B acquisition of digital wealth platform Altruist

CoreWeave is planning a chip-backed loan worth several billion dollars

Banks lined up $2.4B of financing to back TDR Capital's $2.6B acquisition of energy and infrastructure services provider OCU Group from Triton Partners

Private credit firms are in talks to provide a $1.3B loan to back PE firm L Catterton's acquisition of healthcare platform Fullscript after low demand in leveraged loan markets

Pizza Hut is looking to sell $1B of bonds backed by franchise agreements to help fund its $1.5B buyout by LongRange Capital

Hong Kong holding company Chow Tai Fook Enterprises is seeking $640M in bank debt to build a liquidity cushion if it proceeds with a recapitalization of struggling New World Development

CD&R-backed Cornerstone Building Brands will move forward with a deal to raise $500M from Monarch Alternative Capital as struggles increase

Rockrose Development is looking to sell a $300M CMBS backed by a loan for two NYC office buildings, whose anchor tenant includes AI startup Sierra Technologies

Biotech CorMedix raised $150M in private credit from BioPharma Credit to fund its acquisition of Heron Therapeutics' commercial assets

French supermarket chain Casino reached a restructuring agreement to convert a $1.6B term loan to equity and change its name to Plesio but keep Czech billionaire Daniel Kretinsky in control

State-backed China Water Environment Group is seeking to restructure $410M of offshore loans

iHeartMedia debt collapsed deep into distress after a worrisome Q3 earnings

Swiss VC firm Redalpine raised $250M for its eighth fund

Zacua Ventures raised $135M for its second fund

Ledger CEO says "everybody will be hacked at some point"

Miami-Dade County began accepting Bitcoin for property taxes

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WSJ profiled the 20-something kids who are increasingly ditching entry-level jobs to become their own bosses.

FT published a detailed profile on everything we know about Jensen Huang's honeypot Alice Huang. From TV journalism to HSBC to Jensen's bed.