Alternative Investing Report - May 28, 2026

*as of 5/27; Sources: S&P, BTC, FTSE, DJRE, GOLD

Now that the dust has settled on New York’s art week, which featured $2.5 billion in auction sales, it’s time to assess exactly what the results mean for the art market and industry overall. Every major sale at the big three auction houses brought in more than last year’s equivalent sale, and experts agree that the results were stronger than last fall’s auctions. While the headlines focused on the nine-figure record-breaking Jackson Pollock and Mark Rothko sales, the mid-tier market performed well, and there is anecdotal evidence to suggest that younger generations are showing more interest in buying high-end art.

➨ TAKEAWAY: The strong results built on the growing momentum the art market has had through Paris’ and London’s art weeks earlier in the year and all the way back to last fall’s major sales. Blue-chip post-war and contemporary art continued to dominate, while Impressionist paintings also beat expectations. Art Basel starts in a few weeks in Switzerland, but the next gauge of the market won’t come until the major auctions kick off in the fall.

In the newest episode of Smart Humans, guest host Eric Cantor talks with Slava Rubin about his outlook for the market, investment strategies, and picks for the next three years.

🚀 Quantinuum IPO: The quantum computing startup filed for a public offering, and is looking to raise more than $1 billion at a valuation of $12.7 billion, above its $10 billion valuation from last September. The IPO will test investor demand for a risky sector with a long-term outlook, and a successful debut could boost other startups such as PsiQuantum and French company Alice & Bob.

🏡 Luxury prices rising: The median U.S. luxury home sale price is up 3.6% year-over-year to $1.39 million, more than double the gain seen in non-luxury homes. Pending sales for luxury homes are also up 4.3% annually, the best pace since January 2025, as buyer demand has grown for high-end properties.

🪙 Trump affirms crypto support: The President pledged to protect the crypto industry and prediction markets, as the latter faces regulatory challenges from states that have caused the Commodity Futures Trading Commission (CFTC) to take action. The downside of these industries becoming politicized is what could happen when Trump and his allies are no longer in power.

🤖 Baseten funding round: The AI inference startup is reportedly in talks for a $1 billion mega funding round that would value the company at $11 billion, more than double its valuation from earlier this year.

🏢 Kayne Anderson’s $5 billion fund: The real estate investment firm raised $5.12 billion, well above its $3 billion target, for its next fund that will target medical offices, senior housing, student housing, and last-mile industrial properties. The fundraise reflects investor demand for these niche sectors compared to more traditional office and retail plays.

📖 King Arthur manuscript: One of only three known rare 13th-century illustrated manuscripts detailing the King Arthur legends is being auctioned off at Christie’s in July and is expected to fetch upwards of $2 million.

Pope Leo XIV has been clear about his AI skepticism since he was elected last year, and his first encyclical, titled “Maginifica Humanitas,” focused largely on the potential dangers of the burgeoning industry. Released earlier this week, the 83-page document called for greater regulation and oversight, particularly with regards to AI’s role in war. Interestingly, Christopher Olah, a co-founder of Anthropic, was invited to speak at the unveiling, signaling the Vatican’s willingness to work with leading AI companies in shaping its message. There was a mixed reaction from the Trump administration, which has clashed with the Pope on a number of issues, but Vice President J.D. Vance did call the message “profound.”