Summary

Tech stocks come under renewed pressure as concerns grow over funding the AI buildout. The head of the DRAM ETF joins Squawk on the Street to discuss the selloff. Plus, former Treasury official Joe LaVorgna reacts to a hotter-than-expected inflation report, with PPI more than doubling estimates. And Bending Spoons CEO Luca Ferrari discusses Berkshire Hath…

Key takeaways

• AI infrastructure debt issuance has sharply declined from a record $113B in June to $23B in September, with borrowing costs rising significantly (SpaceX ~9%, Anthropic double-digits), signaling growing credit market caution around the AI buildout.
• The DRAM/memory chip sector is in a structural transition from cyclical to recurring-revenue models, but near-term sentiment is being crushed by macro headwinds, CXMT competitive threats, and bearish commentary from executives like Hock Tan.
• Anthropic's Q3 revenue run rate of $16.8B disappointed some investors ahead of its expected IPO, with bulls attributing the shortfall partly to cracking down on Chinese open-source model distillation that may have cost 5–7% of revenues.

Why this matters

Rising cost of capital and political resistance to data centers are beginning to stress the financial architecture underpinning the AI infrastructure boom, with downstream effects on memory chips, cloud compute valuations, and broader economic growth that B2B technology and finance professionals must monitor closely.

Entities

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Show notes

Tech stocks come under renewed pressure as concerns grow over funding the AI buildout. The head of the DRAM ETF joins Squawk on the Street to discuss the selloff. Plus, former Treasury official Joe LaVorgna reacts to a hotter-than-expected inflation report, with PPI more than doubling estimates. And Bending Spoons CEO Luca Ferrari discusses Berkshire Hathaway’s increased stake in the company, while new revenue figures from Anthropic raise fresh questions ahead of its expected IPO next month.Squa

Themes

• anthropic
• investing