11AM Hour: Carnival CEO on Earnings, Tech Sector Opportunity & OpenAI's Developer Day 9/29/26

Rising yields, Anthropic's massive losses, and Bain's $6 trillion AI-revenue requirement are testing whether the AI capex boom can be justified.

• Rates bite risk appetite: 10-year Treasury yield hit 5.28% (30-year 5.61%), pressuring equities even as UBS's Ali McCartney sees earnings/multiples surviving one-to-two more Fed hikes.
• Anthropic S-1 details revealed: Reuters reports revenue up 12x to ~$4.6B, operating losses over $8B, a ~$42B net loss (mostly a $34B accounting charge), and $500B+ in future cloud commitments; ~80 of 200+ pages cover catastrophic/existential AI risk.

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