Anthropic's $2T Bet and Nvidia's Earnings Jitters Grip AI Markets

Anthropic is reportedly seeking a $2 trillion valuation in its next funding round, a figure that has Wall Street veterans reaching for historical cautionary tales. Meanwhile, AI-related stocks are under pressure globally as investors hold their breath ahead of Nvidia’s earnings this week.

Key points

• Anthropic’s reported $2 trillion valuation target is drawing comparisons to SpaceX’s IPO as a warning for AI investors, with analysts flagging the extraordinary growth and margin assumptions required to justify the price.
• AI stocks dipped across Asian markets on Monday, with Japan’s Nikkei swinging between gains and losses amid rising cost concerns, higher bond yields, and Bank of Japan rate-hike expectations.
• NVIDIA and 121 companies have formed the Open Secure AI Alliance, a coalition focused on developing open tools to secure AI software and agents.
• The Broadcom vs. Marvell debate over custom AI chips continues, with analysts pointing to one critical metric to separate the two.
• SpaceX (NASDAQ: SPCX) shares slid overnight after Elon Musk outlined a Falcon rocket wind-down roadmap in favor of Starship, prompting a rare sell rating with 27% projected downside.

Is Anthropic’s $2 trillion valuation defensible?

The number is striking. A $2 trillion valuation for Anthropic would put it in the same neighborhood as some of the largest publicly traded companies on earth, based on a business that has yet to demonstrate the revenue scale or margin profile to match. According to Yahoo Finance’s reporting, at least one Wall Street veteran is pointing to SpaceX’s IPO trajectory as a reference point: private-market enthusiasm can detach from fundamentals in ways that eventually correct.

The SpaceX comparison is pointed. SPCX shares are now under fresh pressure after Musk confirmed plans to wind down most new commercial Falcon bookings beyond late 2028, shifting resources to Starship. A rare sell call sees 27% downside from current levels. The lesson being drawn for Anthropic investors: even when the underlying technology is real and the company is a legitimate leader, the price at which you buy in matters enormously.

For now, Anthropic remains private. But its valuation discussions are shaping sentiment around AI investment risk more broadly, and the scrutiny is landing at a sensitive moment for the sector.

What is rattling AI stocks ahead of Nvidia earnings?

The near-term market pressure has a specific trigger. Nvidia reports earnings this week, and Asian markets reflected the anxiety ahead of that print. AI-related shares came under selling pressure across the board, with rising costs cited as a concern alongside the macro backdrop of higher bond yields and inflation uncertainty.

US futures also edged lower, with AI spending in focus as the dominant theme. This comes in context: Nvidia has already warned customers of significant AI server price increases, and investors want to know whether demand is durable enough to absorb those costs without a spending pullback.

Broadcom, Marvell, and the custom chip race

Separate from the Nvidia anxiety, the custom AI chip segment remains a live debate. A new comparison of Broadcom and Marvell zeroes in on a single metric that analysts argue distinguishes the better long-term bet. The sources do not specify exactly which metric is highlighted, but the framing reflects a broader investor focus: as hyperscalers increasingly design their own accelerators, who wins the custom silicon business?

A separate analysis published today argues that one chip company beyond the obvious names (Nvidia, AMD, Broadcom) is positioned to be the biggest winner of the AI semiconductor build-out, citing technology and scale advantages. The source does not name the company in its summary, so readers should check the full piece for the specific pick.

NVIDIA’s AI security alliance

On a less market-sensitive note, Nvidia’s other big move this week is organizational rather than financial. The company announced the Open Secure AI Alliance alongside 121 partner firms, targeting open-source tools for securing AI software and autonomous agents. Nvidia framed open-source software as foundational to global industries including cloud computing, finance, manufacturing, and government.

The alliance is unlikely to move Nvidia’s stock on its own, but it signals the company is positioning itself at the center of AI governance and security conversations, not just the hardware stack. That kind of ecosystem influence tends to compound over time.

Nothing in this article constitutes investment advice. This site is independent and not affiliated with any company or broker mentioned.