A month to remember for the team at Nasdaq: ✅Monday: wins the Anthropic IPO. ✅Tuesday: GM says will switch listing from NYSE. ✅Oct. 20: Hilton said will switch listing from NYSE. SpaceX listed on the Nasdaq, too, back in June.

BREAKING: Verizon CEO admits he assumes everything SpaceX says it will do, it will do, and execute flawlessly, and says he takes its terrestrial moves "quite seriously" Dan Schulman (CEO): “I also operate under the assumption that everything SpaceX says they will do, they will do, and that they will execute flawlessly. That’s my operating assumption on it. I think to assume anything else, makes no sense from my perspective." "And everything that we’ve seen so far, all of their announcements, everything we’re hearing in the market, and I’ll talk about that in just a second, is so far the path that we’ve basically predicted that they would do." "We always knew that they needed a terrestrial network to have any chance at providing a competitive service. I don’t really need to re-review the satellite beam physics, but just suffice to say that without a terrestrial network, their addressable market for broadband services is relatively small.” "It’s in very rural areas, and their service just can’t compete with a terrestrial network. In suburban and urban areas where like 98% of our revenues are, we’re somewhere between 100 to 1,000 times more efficient than they are. And when you think about wireless, it’s even more difficult with them to compete on a satellite basis." "And so I think that SpaceX realizes this, and they’re exploring a potential path to creating a terrestrial network. It’s not surprising they said it on their call, so I think we should take it quite seriously.”

Saks survived Chapter 11. Its brands did too. 🛍️ Exemplar Luxury Group CEO Geoffroy Van Raemdonck discusses how the luxury retailer navigated through it, and the $600 million shareholder investment that backed its signature brands. 💰 "There was an element of we need to make due and help our brands limit the loss," Raemdonck tells @BrianSozzi. Watch the full interview:

Investors will have to get comfortable with a public @AnthropicAI spending billions of dollars to support its AI vision. There is a precedent for this in tech: @amazon, which moved from bookstore to cloud computing powerhouse and online shopping behemoth. "It [Anthropic's IPO's] reminds me of a kind of a couple of things. I got to work with @JeffBezos for a long period of time. And he always said, 'We're willing to be misunderstood for long periods of time,'" Kleiner Perkins partner and Electronic Arts co-founder @bingfish told me on Sozzi Unleashed. Gordon was also an early board member at Amazon. He is out with a new book called 'Everybody Wins.' "I was in the boardroom when we kept having to approve capex for AWS, kind of no profit in the short term. A lot of capex," Gordon added. "And there was one year where we said, oh my God, it's $75 billion in capex. That would be like the top 10th country in the world … The board was freaked out early on when we weren't showing free cash flow. We were investing in the future. And it is kind of like the Anthropic story. Invest in the future. The market is usually pretty bad at figuring out the three- or four-year-out returns. And so this is the bet that the capex is going to pay off in that three- or four-year period, as it did with AWS."

🛍️ The now combined owner of iconic department department stores Saks, Neiman Marcus and Bergdorf Goodman is aiming for a next decade that resembles nothing from the tumultuous past decade. "It is a rebirth, and it's a rebirth not for the sake of survival, but for the sake of transformation. Our aspiration is really to be the leader in the relationship business," Exemplar Luxury Group CEO Geoffroy van Raemdonck told me on the Power Players With Brian Sozzi podcast. Exemplar Luxury Group is the holding company of these iconic retail brands. It has been an interesting few years for the companies now in the Exemplar portfolio, to say the very least. Full Watch/Listen ⬇️ 📈 Yahoo Finance: 🎧 Apple Music: 🎙️ Spotify: 🎵 Amazon:

🚨 Anthropic's S-1 dropped this morning. @BrianSozzi is breaking down what you need to know about it first. ⬇️ Cut through the noise with Brian Sozzi every day at 9:30 a.m. ET on Yahoo Finance.

Elon Musk just warned that 200+ neoclouds face “guppy-level death.” $CRWV and $NBIS are feeling it today. @BrianSozzi says the market’s worried about the wrong thing: “Backlog’s not the problem.” The real problem is how much CoreWeave will have to raise to deliver on that backlog while yields and borrowing costs climb. Is this the start of the AI cloud shakeout? 👇

The three biggest chip players are writing checks to $META. $NVDA, $AMD, and $AVGO will buy up to $5 billion of Meta’s $95 billion share sale. @BrianSozzi says it's "a show of confidence in AI demand.”

Anthropic S-1 warning: "As our business has grown and as interest in us and the AI industry overall has increased, we have attracted, and may continue to attract, significant media coverage, public commentary, and scrutiny from time to time. This coverage and commentary have included, and we expect will continue to include, recurring narratives concerning the potential adverse societal impacts of AI, including that AI may displace or eliminate jobs, may be misused or otherwise cause harm, and may pose catastrophic or existential risks to humanity."