Most emerging Asian currencies came under pressure on Thursday after hotter-than-expected US inflation raised expectations for a Federal Reserve rate hike and strengthened the dollar. The Philippine peso fell to a record low of 63.09, while the South Korean won touched a two-week low. South Korean stocks tumbled 8%, Taiwan shares fell more than 3%, and an MSCI emerging market currency index posted its biggest one-day drop in two weeks.

Hotter-than-expected inflation data sent the Nasdaq to a sharply lower close on Wednesday, with worries about more interest rate hikes from the Federal Reserve pummeling shares of Oracle, CoreWeave and other AI stocks sensitive to higher borrowing costs.

KUALA LUMPUR: The ringgit opened marginally higher against the US dollar on Wednesday, supported by a weaker US Dollar Index (DXY) as investors reassessed the outlook for US interest rates following signals that the Federal Reserve may adopt a less aggressive monetary policy stance.

Citigroup estimates Meta’s AI assistant Muse could generate more than $27 billion in annual revenue by 2030. The firm projects about $23 billion would come from transaction-related revenue, with roughly $4.5 billion from subscriptions. Muse has surpassed 6.6 million cumulative downloads and reached 1.8 million daily active users as new use cases emerge and Meta steps up awareness efforts.

Anthropic warned in its IPO prospectus that government attitudes toward the company and its technology could affect relationships with commercial customers and partners, with broader consequences for its business. The filing also cautioned that advanced AI could pose “catastrophic or existential risks to humanity,” according to the prospectus seen by Reuters. Anthropic said revenue from government agency contracts accounts for less than 1% of its annual revenue.

Broadcom has agreed to lend Anthropic up to $42 billion to fund AI infrastructure spending, Anthropic said in its IPO prospectus. Anthropic expects it will become the largest customer in Broadcom’s chip design business next year, tied to a $125.2 billion five-year commitment to lease computing capacity. Broadcom has projected AI semiconductor revenue of about $115 billion in fiscal 2027 and $230 billion in fiscal 2028.

Anthropic is planning what Reuters describes as the largest initial public offering in history, seeking a $2 trillion valuation. The company lost more than $50 billion over the two years ending in 2025 and has more than $500 billion in spending commitments in the coming years. Its growth relies heavily on partnerships with major tech firms including Amazon, Google, Broadcom and Microsoft, which accounted for 47% of 2025 revenue.

Anthropic said in its IPO prospectus that rogue AI agents could trigger legal claims from customers and users, even as the legal framework governing such cases remains unclear. The company warned that autonomous agents with deep access to customer systems could cause real-world harm through errors, misalignment or security exploits. It also noted that contractual limits on its liability may not prove enforceable or sufficient. Meta has previously agreed to pay $18 billion over a decade to settle similar claims brought by U.S. states.

Anthropic’s IPO prospectus reviewed by Reuters lays out a vision in which AI reshapes the global economy more profoundly than industrialization, electricity and the internet. Founded in 2021, the Claude maker has raised multiple funding rounds. Its latest round valued the company at $183 billion post-money, positioning it to become the first frontier AI lab to list publicly.