Alternative Investing Report - February 16, 2026

*as of 2/15, Sources: S&P, BTC, FTSE, DJRE, GOLD

The Consumer Price Index (CPI) inflation report showed a 0.2% monthly gain in prices in January, and a 2.4% annual gain, both below expectations, with the latter number representing a 0.3% decline from last month. The core reading, which strips out food and energy costs, showed a 0.3% monthly gain and 2.5% annual gain, the lowest level since 2021. The stock market response was muted, with indices mostly flat, though the crypto market saw a modest gain on the day.

➨ TAKEAWAY: The better than expected results upped the chances of a future Fed rate cut, as inflation inched closer to the Fed’s 2% target. The CME FedWatch tool now sees a 30% chance of a cut by April and a 70% chance of at least one cut by June. More data will come this Friday with the report on the Fed’s preferred inflation metric, the Personal Consumption Expenditures (PCE) index, being released.

In the newest episode of Smart Humans, Slava Rubin talks with Goodfin CEO and co-founder Anna Joo Fee about the current market for pre-IPO startups, predictions for the future, and hot sectors to watch.

🤖 Anthropic’s massive raise: The AI startup raised $30 billion at a $380 billion valuation, the second biggest VC round of all-time, and more than double its valuation from September. The company claims a run-rate revenue of $14 billion and a 10x growth rate each of the past three years.

💵 Secondaries funds: Demand for secondaries funds continued to grow last year, with the strategy recording the highest average raises, even when excluding Ardian’s $30 billion fund from last September.

🚀 Shield AI fundraise: The defense tech startup is reportedly raising a $1 billion round at a $12 billion valuation, which would more than double its last valuation of $5.3 billion from a year ago.

🏡 Pending sales declining: U.S. pending home sales fell by 5.1% year-over-year, falling in all but five of the top 50 metro areas, and homebuyer demand is now down 16% from where it was last year.

🪙 Bessent wants bill passed: The Treasury Secretary wants Congress to pass the Clarity Act crypto legislation this spring, and he believes it could act as a catalyst for a market recovery.

🎨 Agnes Gund collection: In May, Christie’s will auction off three artworks owned by the famed collector that are expected to sell for $145 million, including a Mark Rothko with an estimated price tag of $80 million.

Today: President’s Day holiday, markets are closed.

Tuesday: Homebuilder confidence index released.

Wednesday: Delayed and current housing starts and building permits reports to be released.

Friday: Personal Consumption Expenditures (PCE) and Core PCE indices, the Fed’s preferred inflation metrics, will be released; new home sales report released; MLB’s spring training schedule kicks off.

Saturday: Goldin’s Winter Vintage Elite auction, featuring a T206 Honus Wagner card that has already been bid up past $4.7 million.