Anthropic plans to spend $518 billion on cloud computing and compute infrastructure, as the industry expects AI-related capital expenditure to exceed $10 trillion over the next five years. If its valuation reaches $2 trillion, it would rank as the seventh most valuable listed company, ahead of SpaceX at $1.95 trillion. Anthropic also pays SpaceX $1.25 billion a month to rent compute resources and reported $4.6 billion in 2025 revenue and more than $16 billion across the first two quarters of 2026, alongside $34 billion in write-offs.

Gold and silver prices came under pressure as U.S. Treasury yields surged, dragging down precious-metals-linked ETFs, with several India-listed silver ETFs falling around 4%. The U.S. 10-year yield climbed to 5.13%, its highest since 2007, while the 30-year yield touched 5.44%, the highest since 2004. Markets priced a 68.1% chance of a Federal Reserve rate hike at the October 28 meeting, driven by strong economic data and energy-led inflation concerns.

Turkish regulators froze trading in funds run by seven asset managers and ordered 130 funds to liquidate following a market selloff. The funds involved have a combined portfolio of 891 billion lira ($21.4 billion) and about 353,000 investors, according to a source cited by Reuters. The Central Bank of the Republic of Turkiye increased repo funding to 300 billion lira and lifted banks’ interbank borrowing limits tenfold to ease lira liquidity strains.

Gold rebounded after three days of declines as falling oil prices helped ease inflation concerns and US Treasury yields pulled back. Spot bullion rose as much as 2.8% to $4,380 an ounce. Yields had jumped after the Federal Reserve’s unanimous decision to raise rates by a quarter percentage point, its first increase since 2023. Data released last week showed US core inflation rose faster than expected in August.

Chipmakers sank after leading AI executives urged a slowdown in advanced system development, pushing a key industry gauge down 5% and sending the Nasdaq 100 1.3% lower. Brent crude rose above $108, adding to inflation concerns. Markets are also focused on the Federal Reserve’s interest-rate decision due this week.

India’s Sensex was down more than 500 points in pre-open trade on Friday, while the Nifty slipped below 23,300. Asian markets also moved lower as rising U.S. bond yields and elevated oil prices weighed on risk appetite. WTI crude futures briefly touched $110 per barrel before easing, while gold and silver futures fell amid firmer expectations of a U.S. Federal Reserve rate hike.

GE Vernova T&D India has secured L-1 status for the Barmer II–South Kalamb high-voltage direct current (HVDC) transmission project, with the order estimated at about ₹13,000 crore. The win is expected to lift order inflows to around ₹23,100 crore, close to four times its FY26 revenue. Revenue recognition is seen starting around FY29, or possibly in late FY28. Before the order, the stock was estimated to be trading at over 72 times FY27 earnings and around 60 times FY28 earnings.

JSW Cement reported first-quarter net profit of 1.61 billion rupees, reversing a year-ago net loss of 13.56 billion rupees that included exceptional items. Revenue rose 21.6% year on year to 18.96 billion rupees, supported by stronger demand and price increases. India’s cement output grew 8.2% in April, 8.4% in May and 9.8% in June, while average prices rose about 4% quarter on quarter, below analysts’ expectations. Total expenses increased 26.5% to 17.93 billion rupees.

Aluminium on the London Metal Exchange has climbed above $3,800 per tonne, up 30–35% from 2024, while copper has moved past $14,000 per tonne, about 28% higher than the FY24 average. Electrical power equipment accounts for about 48% of aluminium demand, and wind and solar projects also consume large amounts of copper and aluminium. With India adding over 30 gigawatt (Gw) of solar and 6 Gw of wind annually, fixed-tariff TBCB projects have limited ability to pass through higher input costs, raising the risk of margin pressure and procurement delays.