Stacks co-founder named new CEO of Stacks Labs; STX surges over 10% in a single day.

Goldman Sachs data shows that global tech stocks have seen net selling of around $20 billion over the past two weeks, with sell-off intensity reaching an extreme level of -3.3 standard deviations. The TMT sector’s sell-off volume is close to the $23 billion recorded in July this year. Meanwhile, the volatility spread between the Nasdaq 100 Index and the S&P 500 Index has risen to the 98th percentile of its five-year range, indicating a significant increase in market demand for safe-haven assets tied to tech stocks. AI financing pressures have also become a key market focus. According to JPMorgan, AI infrastructure debt financing has exceeded $500 billion so far this year, and financing costs for large-scale cloud service providers have risen by around 120 basis points from previous levels. As Google, Microsoft, and Amazon release their earnings reports this week, the market will closely monitor whether AI capital expenditures can translate into actual revenue, as well as the financing sustainability of subsequent investment expansion. JPMorgan points out that the financing connection between NVIDIA and GPU operators could act as a channel for credit risk transmission; should operators face tighter financing conditions, pressure may spread upstream along the supply chain. That said, the bank remains constructive on the tech sector’s fundamentals, noting a potential buying window in early November, though signals including further clearing of market positions, corporate earnings delivery, and narrowing credit spreads still need to be observed.

BNB Standard Corporation (BNC) announced it has rung the Nasdaq opening bell. Binance founder Changpeng Zhao (CZ) joined BNC CEO Odagi, the company’s board of directors and management team for the ceremony, with representatives from YZi Labs and BNB Chain also in attendance. The Nasdaq opening bell ringing today marks the celebration of the firm’s name change and new management take-over. In an earlier report, on September 29, BNB Treasury Company CEA Industries Inc. (Nasdaq ticker: BNC) announced it would officially rebrand as BNB Standard Corporation effective September 29, 2026. The company’s common shares will remain listed on the Nasdaq Capital Market under the ticker “BNC”, while its warrants will trade as “BNCWW” and “BNCWZ” respectively.

Anthropic has raised a total of $77 billion in additional funding from Google, Amazon, and Broadcom. Each deal carries its own specific terms: Amazon’s funding agreement is tied to Anthropic hitting certain compute milestones, while Google’s $20 billion commitment is partially contingent on the AI startup meeting specific revenue targets. Hyperscale cloud providers including Google and Amazon have poured billions into Anthropic to support the AI firm’s compute needs, even as the two tech giants are competitors. Cumulatively, Google and Amazon have invested hundreds of billions of dollars in Anthropic, making them the startup’s largest shareholders.

Renowned crypto trader Ansem posted that he is bearish on Bitcoin (BTC), Ethereum (ETH), and large-cap stocks, noting that both BTC and ETH have broken below their medium-term trend lines and are poised to accelerate declines below $82,000 and $2,400 respectively. Ansem pointed out that this week’s Federal Reserve policy meeting and key earnings reports from multiple companies will bring significant event risks, and he expects heightened two-way market volatility in the fourth quarter, though some on-chain assets may still perform well. Regarding U.S. stocks, he believes the parabolic rally of AI-favored stocks may have neared a near-term peak, and the previous breakout of the Nasdaq 100 could be a false breakout. As AI companies continue to pour massive capital expenditures, investors will focus more on whether these investments can translate into actual revenue and profits. Meta’s post-earnings stock drop, paired with market concerns over current AI model safety issues, has further amplified uncertainty. However, Ansem emphasized that he is not bearish on the longer term; his current assessment is that the market may first undergo a correction before resuming its upward trend.

According to TradingBeats, the Brazilian stock ETF contract EWZ deployed by Trade.xyz on Hyperliquid is currently priced at $32.72, down approximately 27.22% in 24 hours, with a trading volume of around $100 million and open interest of $32 million. Over the past 24 hours, total liquidations for EWZ across the network reached $14.9167 million, including $14.7275 million in long positions and $189,200 in short positions. The long-short ratio has risen to 4:1, indicating bottom-fishing capital is entering the market, and EWZ has rebounded 5.3% in the past five hours. This decline coincided with the outcome of Brazil’s general election, reversing the market’s previous betting trend. At 08:08 Beijing Time today, Brazil’s Superior Electoral Court confirmed Luiz Inácio Lula da Silva (Lula)’s re-election victory. Previously, the market had bet on right-wing candidate Flávio Bolsonaro winning, expecting him to push for fiscal tightening, lower financing costs, and support the Brazilian real’s strength. Reuters reported that as of last Friday, Brazil’s stock market had risen nearly 7% from before the first round of voting, and the real had appreciated nearly 5% against the U.S. dollar. With Lula’s re-election, this trading logic is now being re-evaluated. Alejo Czerwonko, Chief Investment Officer for Emerging Markets at UBS Global Wealth Management, stated that the market rally after the first round of voting could be largely unwound, and credible commitments to fiscal discipline and a path to debt stability will need to be demonstrated going forward.

After Anthropic officially filed its S-1 IPO prospectus today, discussions about its financial data on X have surged. Bullish investors argue the company has demonstrated "historic" growth and commercialization capabilities, supporting a potential $2 trillion IPO valuation. Key bullish points include: revenue hit $16.3 billion in H1 2026, growing roughly 14–15 times from ~$1.1–1.2 billion in the same period last year; Q3 revenue further rose to $16.8 billion, with a sequential increase of ~45%. Prominent tech investor Peter Diamandis noted Amazon, Google, and Apple took 21, 10, and 20 years respectively to reach $16 billion in annual revenue, while Anthropic achieved this in just half a fiscal year. Meanwhile, unit compute efficiency has improved sharply: every $1 spent on compute now generates ~$2.08 in revenue, a major upgrade from prior levels. Some analyses show free cash flow turned positive in H1 (around $3.4 billion), and adjusted profitability plus a high net revenue retention rate (about 900%) further boost confidence. The quality of enterprise clients is also favored, with over 11,900 customers paying more than $100,000 annually. Bullish advocates stress that despite a $80.7 billion net loss on the books, most of this is non-cash accounting adjustments, so actual operational performance is far better than the "cash burn" narrative. As products like Claude accelerate enterprise adoption, the market is reassessing Anthropic’s long-term growth potential.