Finance

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.

SpaceX plans to build Terafab, an industrial facility billed as the world’s largest, with an initial investment of $55 billion and a total of $119 billion if additional phases are completed. The project is designed to include more than 100 million square feet of manufacturing space and an estimated internal volume of around 100 million cubic metres, far larger than Boeing’s Everett factory. The development is expected to create thousands of jobs, according to Reuters.

SpaceX is planning a “Terafab” manufacturing complex in Texas with an initial investment of $55 billion, with total spending potentially rising to $119 billion if additional phases are completed. The proposed facility is designed to include more than 100 million square feet of manufacturing space and an internal volume estimated at about 100 million cubic metres. That would put it far ahead of the Boeing Everett Factory, currently the world’s largest building by volume.

Northrop Grumman’s YFQ48A Talon Blue uncrewed Collaborative Combat Aircraft has completed its first fully autonomous flight, including taxi, takeoff, inflight maneuvers and landing. The flight took place over Mojave Air and Space Port, where Northrop Grumman subsidiary Scaled Composites built the aircraft. The company says the milestone advances its internally funded Talon portfolio as it positions the aircraft for future U.S. Air Force CCA competitions.

Woodside Energy reported its HY26 results, with operating revenue up 13% to US$7.4 billion and underlying NPAT rising 7% to US$1.3 billion. Free cash flow surged 159% to US$352 million as the average realised price climbed 20% to US$74 per barrel of oil equivalent. The company increased its interim dividend by 8% to US 57 cents per share. A $15,000 investment would buy about 470 shares at the then-prevailing price.

The U.S. Navy has formally awarded Boeing an engineering and manufacturing contract for the F/A-XX sixth-generation fighter, valued at about $20 billion. The program will move into flight testing to validate aircraft performance, onboard systems, ground capabilities, and weapons integration. The Navy aims to field the aircraft in the 2030s.

Amazon said it will invest an additional $1 billion over the next five years in communities where it builds data centers, directing funds to education, job training, energy affordability and resource preservation. The company is framing the move as part of a push to keep pace in artificial intelligence as electricity demand rises. A report from Schneider Electric projects U.S. electricity demand will increase by 16% by 2029, driven mainly by the spread of data centers. Grassroots opposition has blocked at least 45 data center projects across 27 states valued at $68 billion, according to Environment America.

U.S. employers added 29,000 jobs in September, far below expectations and sharply slower than August, easing inflation worries. Traders cut the implied probability of a Federal Reserve rate hike at its October meeting to less than 23% from 64% a week earlier, according to CME Group data. U.S. stocks advanced on the shift, with the S&P 500 up 0.7%, the Dow up 250 points and the Nasdaq up 1.2%. The 10-year Treasury yield dipped below 5.17%, while Brent crude swung between $98 and $103.

Pool and spa supplies retailer Leslie’s has filed for prearranged Chapter 11 bankruptcy protection and said it will close 76 stores. The restructuring plan targets a reduction of about $685 million of secured debt, representing 90% of its outstanding debt. The company has secured $90 million in debtor-in-possession financing commitments and a $60 million equity financing commitment. After the restructuring, an existing lender group is expected to hold a majority ownership stake.

Alaska Airlines is set to take its long-running Seattle rivalry with Delta Air Lines into longhaul international markets, with about 92% of its planned intercontinental seats from Seattle through August 2027 overlapping Delta’s existing nonstop routes, according to a Reuters analysis of Cirium schedule data. Alaska’s cost base remains an advantage, with first-half non-fuel unit costs about 17% below the average of Delta, United and American, but its unit revenue was roughly 20% lower, limiting its cushion. Delta, for its part, has strengthened its Seattle hub position by securing preferential access to 18 gates and adding two lounges.