US stocks closed mixed on Friday to wrap up a volatile week amid the Fed's first rate hike in years

Munis are on track to fall for a third-straight month

What we're watching this week:  

Full calendar here

ARR topping $100B, a new model in the pipeline, Claude being used for 26% of all Anthropic model development, public calls for antitrust waivers…there's no way Anthropic isn't preparing to IPO in the coming months

Get a $50 bonus with code LIT on signup, only on the Polymarket US app

AI future savings is latest EBITDA adjustment (BBG)

Home Depot is the highest-returning stock of the past 45 years (WSJ)

US and Denmark reached a deal on Greenland (WSJ)

AI's wobbly house of cards puts markets and US economy at risk (BBG)

Big Tech uses guarantees to keep $300B AI exposure off balance sheets (FT)

Wall Street expects $1T in short-term debt sales as rates climb (FT)

Short-term Treasuries emerge as popular bet on Fed inflation win (BBG)

EM investors favor local bonds as dollar debt lags (BBG)

China's $33B REIT experiment sputters due to weak demand (BBG)

Blackstone sees India nearing tipping point for foreign capital (BBG)

Dillard's will shift its stock listing to Texas (BBG)

PE turns to financial engineering to lure insurance billions (FT)

Jane Street joins wave of dealers offering swaps for risky ETFs (BBG)

KKR exec favors private markets as traditional hedges crumble (BBG)

NBA paves way for Lakers deal with PE policy change (BBG)

Berkshire named Buffet's son as new chairman (WSJ)

Anthropic ARR is set to top $100B this year (NYT)

OpenAI expects negative FCF to hit $280B by 2030 (FT)

Gemini hacked three companies in first known breakout by Google (RT)

Paramount settlement talks include promise to stay in California (BBG)

Porsche could face another 4,000 job cuts (RT)

US weighs allowing most pharma licensing deals with China (RT)

Data room triage: hundreds of files classified and indexed in the first hour

Financial spreading: normalized into your chart of accounts in hours

Screening memo: drafted in firm standards while diligence is still underway

Apollo is in talks to take a 16% stake in MLB's New York Yankees from the Steinbrenner family at a record $12B valuation

FedEx and PE firm Advent closed their $9B cash buyout of Polish ​parcel locker company InPost after 90% of shares were tendered 

Amsted Industries is exploring a $6B sale of cooling system provider Baltimore Aircoil

French insurance group CNP Assurances is considering a ​takeover of $3B-listed Arch Capital-backed credit insurer Coface

Singaporean ports giant PSA International is considering selling a minority stake in its container terminal operations in Mumbai at a $2B valuation

Australian developer Ingenia Communities rejected a sweetened $1.5B cash takeover offer by PE firm Warburg Pincus despite a 37% premium

EQT and founders are considering a $1B sale of Indonesian ingredients firm Indesso Aroma

UK land and property regeneration company Harworth Group rejected an improved $800M takeover bid from infrastructure firm and largest shareholder ​Peel Holdings

Spain is open to the Italian family behind olive-oil brand Pietro Coricelli taking control of CVC-owned local producer Deoleo in a $575M deal 

Ares is exploring buying a minority stake in Copenhagen Infrastructure Partners

Haji Isam, the Indonesian tycoon behind conglomerate Jhonlin Group, agreed to take a 30% stake in coal miner Bayan Resources 

French utility EDF is considering a preferred equity structure ‌to secure investors for its minority stake sale in Italian utility Edison after IPO plans flopped due to the Iran war 

Angle Health, an AI-native healthcare benefits platform, raised $600M across a $200M Series C and a $400M tender offer at a $2.7B valuation led by Vitruvian Partners

Arsi AI, an open-weight AI model developer, raised a $150M Series B at a $1B valuation led by Vista Equity Partners, Cambium Capital, and Emergence Capital

Nex, a controller-free gaming console company, raised a $150M Series E co-led by Baillie Gifford and BAI Capital

Vantora, a startup studio that builds ventures for corporate customers, raised a $100M investment from Silversmith Capital Partners

Vals.ai, an AI benchmarking startup, raised a $40M Series A led by a16z

Ki MMA, a new global mixed martial arts league, raised $60M in an initial funding round led by Creator Sports Capital

Tare, a blockchain-based private credit infrastructure fintech, raised a $13.25M seed round led by Blockchain Capital

Energy Capital Partners-backed power generation firm ProEnergy is seeking a $50B valuation in an IPO

Brookfield and Cameco-backed nuclear firm Westinghouse Electric is seeking a $50B valuation in its IPO

UK AI cloud firm Nscale publicly filed for a $3B US IPO targeting a $35B valuation 

Uzbekistan's largest logistics group Centrum Holding is in talks for a London IPO at a $2B valuation

Mynt, the company behind Philippine fintech GCash, received approval for its plans to raise $1.5B in Philippine's biggest IPO ever

Immunology biotech Electra Therapeutics fell 12% after raising $350M in an upsized IPO priced at the mid-point of a marketed range for an $830M market cap

Specialty home insurer Orion180 Insurance raised $240M for a $1.15B valuation in its IPO

Prudential Financial will exit its investment in South Africa's biggest retirement-fund administrator Alexander Forbes Group as billionaire Patrice Motsepe raises his stake from 49.9% to 78% in a $185M deal

Solar firm Ningbo Green Light Energy is planning a listing in Pakistan's first-ever SPAC deal

SoftBank is seeking to sell $11B in junk bonds to funds its investment in OpenAI

Blackstone secured a loan to support its acquisition of data center liquid cooling components provider Flow Control from Audax Private Equity

MSC Mediterranean Shipping Co. is in talks to acquire the 80% stake in German cruise-ship builder Meyer Werft from Germany for over $460M

Porteast Investment, the financing arm of Indian conglomerate Shapoorji Pallonji Group, is in talks with lenders to extend a $365M bond payment by six months

PE firms PAG, Warburg Pincus, Trustar Capital, and others are preparing bids for Evergrande Property Services after talks with Guangdong Provincial Tourism fell apart

Swiss PE firm Partners Group is exploring a $920M private credit CV deal

Blame game begins after Clarity Act failed

Study finds retail traders pay most fees in crypto boom

The annual LIT Cup is also back at Sensa Padel in Nashville for a weekend of padel, drinks, our favorite DJ, and tournament action among players across four divisions.

We're hosting an intimate happy hour for Nashville's tech, finance, and business community on Friday followed by a weekend of nonstop courtside action.

This is a great opportunity to connect with industry peers, get in your padel reps, or simply enjoy an atmosphere among Nashville's best at Sensa's incredible riverside complex!

For the second year running, we're bringing together NYC's best on NEXUS Golf Club's state of the art simulators on Saturday, October 17 for a shot at over $9,000 in prize value and NYC glory. What's at stake: a $500 cash prize, a six month membership to NEXUS with $150 in F&B rewards, twosomes to Manhattan Woods Golf Club, a TrueSpec Club Fitting, and a plethora of other prizes listed on our @palmandparkevents Instagram + event page.

Whether you want to grab your favorite golf buddy, be matched with a partner, or simply watch and mingle, there's gonna space for you. Last year's tournament was epic so we hope to see y'all this time around!

RSVP details here 🤝

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