Happy Friday. Rajat Bhageria gives us an investing pick, Get Access launched, Anthropic’s IPO is coming, and private employment was better than expected. Let’s dive in!
🎤 Listen: To the latest episode of Smart Humans, where Slava Rubin and Jan-Erik Asplund explore the rapidly growing AI infrastructure market.
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📈 DAILY MARKETS
✅ PICK OF THE WEEK
Anthropic
Last official valuation: $965 billion (May 2026)
Recent reported valuation: $2 trillion target for IPO
OpenAI
Last official valuation: $852 billion (March 2026)
Recent reported valuation: $1.4 trillion rumored fundraising round
Both companies are kind of obvious wins and I think they’re going to continue to go up and up
This is one of those industries where the more money you have, you can continue to grow
I think Sam Altman is incredible and I wouldn’t bet against him
I think both companies will be worth $3 trillion in three years, not sure which company will be worth more
Partner
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👨🏫 TODAY'S EXPERT
Rajat Bhageria is the Founder and CEO of Chef Robotics. Prior to Chef, Rajat was Founder and Managing Partner at Prototype Capital, a pre-seed venture capital fund investing in founders who apply new technology to old industries. Before that, Rajat was the Founder and CEO of ThirdEye, where he led a team to build a product that empowers the visually impaired by recognizing what’s in front of them; ThirdEye was ultimately sold. Rajat has written a book about education reform, published a scientific paper in electrical engineering, and written for Forbes about entrepreneurship. He has a Master’s degree in Robotics and Machine Learning from the University of Pennsylvania and a Bachelor’s in Economics from The Wharton School at the University of Pennsylvania.
🎤 PODCAST
In the newest episode of Smart Humans, Slava Rubin and Jan-Erik Asplund explore the rapidly growing AI infrastructure market, focusing on Fluidstack and other key companies, technological trends, and investment opportunities. They discuss the energy demands of AI, the business models of neoclouds, and the risks and rewards of investing in this dynamic space.
📰 NOTABLE NEWS
🤖 Anthropic targeting November IPO: The AI startup is reportedly planning on going public in mid-November and is targeting what would be a record-breaking $2 trillion IPO. When the date gets closer, we will be holding an investor briefing to break down all the details.
🚀 Get Access launches: The company debuted its platform allowing individual investors to pool their money to invest into growth-stage startups. The company also raised $5 million at an $85 million valuation, and says it brought in $1 million in revenue within the first week of launching privately.
📊 Private employment report: ADP’s jobs report showed that private employment rose 90,000 in September, ahead of expectations, and well above the 36,000 jobs gained in August. The overall U.S. jobs report will be released today and will give a clearer picture of the state of the labor market.
🪙 Citi raises forecasts: Citigroup raised its 12-month forecast for Bitcoin from $82,000 to $113,000 and its forecast for Ethereum from $2,240 to $3,028. That would represent a 33% gain in Bitcoin’s current price and an 11% gain for Ethereum.
💵 PE & Infrastructure: Two-thirds of institutional investors prefer private market investments, and of those, infrastructure and private equity are the two most attractive classes, with more than 60% of investors planning to increase their allocations to those sectors over the next 3-5 years.
🎨 Two 9-figure paintings: A Van Gogh painting not seen for half a century is expected to sell for upwards of $180 million in November in New York, while a Cezanne also not seen for 50 years carries a $120 million estimate.
📝 IN CASE YOU MISSED IT
Monday: 🏀 Cooper Flagg record sale, 🏡 Mortgage rate skyrocketing
Tuesday: 🤖 Muse launch, 🥃 Record-setting whiskey?
Wednesday: 🏡 Housing market update, ❌ Oura postpones IPO
Thursday: 🎨 Art auction recap, 📊 Inflation cooling
Have a great weekend!
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