Anthropic locked in a $35B cloud deal with Nvidia-backed Lambda on Sunday — its fourth mega compute deal this month. Rate-hike odds jumped again too, hitting 64-65% just one trading day after Friday's Warsh shock. Let's dig in 👇

💬 Anthropic's $35B deal has Nvidia's fingerprints all over it — smart integration, or circular financing?

📊 Quick Recap — What Moved & Why

🇺🇸 US — Anthropic's $35B Cloud Deal Has Nvidia's Fingerprints

🔑 Key Event: Anthropic signed a $35B cloud deal with Nvidia-backed Lambda for Claude's compute. Nvidia holds the data center lease itself. US indices closed lower Monday ($Dow Jones Industrial Average(.DJI.US) -0.70% to 53,185.90, $S&P 500(.SPX.US) -0.33% to 7,686.14, $NASDAQ Composite Index(.IXIC.US) -0.12% to 26,370.89). September rate-hike odds jumped to 64-65%, from ~50% Friday.

@gedebe : Nvidia is actively investing in AI related companies with the hope of strengthening the AI ecosystem... it is creating a circular financing that can cause an AI bubble. My trade: trim Nvidia shares.

@MoonHMS : Personally, I am doubtful how hawkish the new Fed Chairman can be, after all he is somehow appointed by Donald Trump who favoured lower interest rates.

👀 Other to Watch

• $NVIDIA(NVDA.US) → it invested $3.5B in MediaTek via convertible bonds Monday, folding NVLink Fusion and its new NVHBM tech into MediaTek's stack; Jensen Huang called MediaTek "one of our biggest partners."
• $SK Hynix(SKHY.US) may be diversifying away from $Taiwan Semiconductor(TSM.US) → Korean media report it's considering shifting HBM4E base-die production to Intel, which popped $Intel(INTC.US) premarket; SK Hynix hasn't confirmed.
• $Amazon(AMZN.US) → FTC and 22 states sued Monday, alleging Amazon overcharged advertisers more than $20B since 2019 by rigging auction bids. Amazon denies it.
• $Apple(AAPL.US) → Monday was Tim Cook's last day as Apple CEO; John Ternus, 51, takes over Tuesday as Apple's third CEO after Jobs and Cook, who becomes executive chairman.

🇸🇬 Singapore — Quiet Day, Rates Still the Story

🔑 Key Event: $FTSE Straits Times Index(STI.SG) traded around 5,735-5,740 Tuesday, up from Friday's 5,699.93 close. No local catalyst — rates are the story. $DBS(D05.SG), $OCBC Bank(O39.SG), and $UOB(U11.SG) all traded steadily.

🇭🇰 HK/China — Shein's Debut Disappoints

🔑 Key Event: $SHEIN-W(00625.HK)'s HKEX debut Tuesday disappointed — shares fell 28% in grey-market trading, then closed down 13.1% at HK$42.20, below its HK$48.56 IPO price. The listing raised HK$13.6B, valuing Shein at ~US$26B — a steep markdown from its 2022 peak near US$100B.

👀 Other to Watch

• Baidu upgraded its HK listing → the conversion to dual-primary status (alongside its existing Nasdaq listing) became effective Tuesday; no new shares or fundraising involved.
• BeiGene made Washington's list → it's among nine drugmakers that reached a Medicare drug-pricing deal with the US government.

🌍 Other

• 🇮🇷 Oil jumped further on fears the US-Iran conflict could escalate; the dollar index extended its two-month downtrend.
• 🇺🇸 The 10-year Treasury yield hit 4.764% intraday Monday, its highest since January 2025, before closing up 2bp at 4.75% — a fourth straight day higher.

📅 Key Events Tonight / This Week

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🚫 No duplicates · ⏰ Deadline: Sept 1, 2026, 11:59 PM SGT

Not investment advice, just market talk 🙏