Anthropic Files For IPO At A Trillion Dollar Valuation; Nigeria’s First Data Center; South Korea Stock Market’s 108% Return Year To Date; And Bitcoin’s Biggest Bull Bows Before Bears
- Dipo Owolabi
- Jun 2
- 7 min read
Artificial intelligence is now colliding with public markets, national economies are feeling the impact of geopolitical uncertainty, and investors are being forced to reassess where the next phase of growth comes from. Anthropic has officially filed confidentially for an IPO, potentially setting up one of the largest and most anticipated listings in tech history. In Nigeria, the launch of the country’s first hyperscale AI-ready data centre marks a major step toward digital sovereignty and reducing dependence on foreign cloud infrastructure. Meanwhile, South Korea’s stock market has become one of the biggest winners of the global AI boom, doubling in value as chip stocks soar, and Michael Saylor’s Strategy has made its first Bitcoin sale in nearly four years, raising questions about how even the most committed crypto believers are navigating a more volatile environment. All this and more in today’s Read It And Eat! |
Markets as of 29th of May 2026.. Cells in RED mean that the value is down, cells in Green mean the value is up.
In Case You Missed It (IYMI)
Trump Thinks Of Putting His Face On Commemorative $250 Bill
The Trump administration is reportedly moving ahead with early planning for a possible $250 commemorative bill that would feature President Donald Trump’s image as part of the nation’s 250th anniversary celebrations. CNN reports that the Bureau of Engraving and Printing is already doing preliminary work on the concept, while a Treasury Department spokesperson said the agency is carrying out “appropriate planning and due diligence” in response to active legislation. In other words, the administration is not yet printing the note, but it is preparing as though the idea could become law, which makes the proposal both symbolic and politically loaded.
The underlying plan is tied to the broader push to mark America’s semiquincentennial, the 250th anniversary of the country’s founding. According to the Treasury statement cited by CNN, if the legislation is signed into law, the Bureau of Engraving and Printing would move proactively to produce the commemorative note so that it “appropriately recognize[s]” the milestone. That means the bill would be less about everyday circulation and more about national symbolism, historical branding, and the way a modern presidency might be memorialized in currency.
The bigger issue is that the proposal immediately raises questions about precedent, politics, and the role of presidential imagery on U.S. money. While commemorative currency is not unheard of, a bill featuring a sitting or recently serving president’s likeness would be highly unusual and would likely draw debate over whether it is a patriotic tribute or an attempt to turn public currency into a political statement. For now, the plan remains contingent on legislation, but even at this stage it is already a headline-grabbing example of how the Trump administration is approaching America’s 250th anniversary with maximum symbolism and very little subtlety. CNN
MAJOR HEADLINES
Anthropic Files Confidentially At A Trillion Dollar Valuation
Anthropic has officially taken its first major step toward becoming a public company after confidentially filing for a U.S. initial public offering. According to Yahoo Finance, the AI giant submitted its IPO paperwork confidentially to regulators, allowing it to begin the process without immediately disclosing detailed financial information to the public. The filing comes after a remarkable rise for the company behind Claude AI, which has emerged as OpenAI’s strongest commercial competitor. Anthropic was reportedly valued at approximately $380 billion earlier this year, and more recent private market activity has suggested valuations approaching $900 billion to over $1 trillion, making this one of the most closely watched IPO candidates in the technology sector.
The timing is significant because Anthropic appears poised to beat OpenAI to public markets. For years, investors have speculated about which major AI company would become publicly tradable first, and Anthropic has now made the first move. The company has experienced explosive growth, driven largely by enterprise adoption of Claude, coding products such as Claude Code, and expanding partnerships with major corporations. Recent industry data showed Anthropic surpassing OpenAI in business adoption among U.S. companies, a milestone that strengthened investor confidence in its commercial model. If revenue growth continues anywhere near its current pace, Anthropic could become one of the largest technology IPOs ever completed.
The broader significance extends beyond Anthropic itself. An IPO would provide public-market investors with one of the first opportunities to directly participate in the generative AI boom outside of infrastructure companies like Nvidia and cloud providers such as Microsoft and Amazon. The listing also arrives as Elon Musk's SpaceX prepares its own highly anticipated fundraising roadshow targeting roughly $75 billion at a valuation of around $1.75 trillion. Together, the two transactions underscore how AI and advanced technology companies are increasingly becoming the center of global capital markets, attracting valuations previously reserved for the largest industrial and financial institutions in the world. Yahoo Finance
Nigeria Launches Its First Hyperscale AI-Ready Data Centre
Nigeria has officially entered the hyperscale era with the commissioning of Kasi LOS1, the country's first hyperscale-ready and AI-capable data centre located in Lekki, Lagos. According to ThisDay and BriefGlance, the facility represents a major milestone for Nigeria's digital economy and is designed to serve as the foundation for local AI development, cloud computing, and enterprise workloads. The project arrives at a critical time, as Nigerian businesses and government agencies currently spend an estimated $850 million annually on foreign cloud infrastructure, sending valuable technology spending outside the country.
The scale of the project is significant. Built on approximately four hectares of land in the strategically important Lekki corridor, the campus has been designed to scale to 100 megawatts of critical IT capacity, placing it firmly within global hyperscale standards. Its location is particularly important because it sits adjacent to the landing stations of six major subsea internet cables, including Google's Equiano cable and 2Africa, one of the world's largest subsea cable systems. This allows the facility to deliver sub-50 millisecond latency for local data processing, a crucial requirement for AI workloads, cloud applications, financial services, and real-time digital services.
Beyond infrastructure, the project represents a broader strategic shift toward digital sovereignty. For years, African businesses have relied heavily on overseas cloud providers, often hosting critical data in Europe, the Middle East, or North America. By creating local hyperscale capacity, Nigeria is positioning itself as a regional technology hub capable of supporting AI training, cloud services, fintech infrastructure, and enterprise computing across West Africa. Industry experts cited by BriefGlance describe the launch as a pivotal moment that could accelerate economic growth, strengthen cybersecurity, create high-value jobs, and reduce dependence on foreign technology infrastructure. This Day Live
South Korea's stock market has become one of the most remarkable investment stories of 2026. According to Yahoo Finance, the Kospi Index has doubled this year, delivering a gain of roughly 100% and surpassing the scale of previous historic rallies seen during South Korea's industrial boom in the late 1980s and even before the dot-com crash. The move has transformed South Korea into one of the best-performing major equity markets globally and has attracted significant international investor attention. Much of the rally has been fueled by renewed enthusiasm for semiconductor companies that sit at the heart of the global artificial intelligence infrastructure buildout.
The primary beneficiaries have been South Korea's chip giants. Companies such as Samsung Electronics and SK Hynix have seen substantial gains as demand for advanced memory chips continues to surge. AI models require enormous amounts of high-bandwidth memory and advanced semiconductor components, areas where South Korean manufacturers possess significant competitive advantages. Investors have increasingly viewed the country as one of the most direct ways to gain exposure to the global AI investment cycle outside of U.S. technology stocks. The result has been a flood of capital into Korean equities as investors search for beneficiaries of AI spending beyond Silicon Valley.
The rally also reflects a broader shift in how global investors view South Korea's economy. For years, many international funds treated Korean stocks as cyclical manufacturing plays. Today, they are increasingly viewed as strategic AI infrastructure assets. While some analysts have begun warning that valuations are becoming stretched after such a dramatic rise, supporters argue that the AI boom remains in its early stages and could continue driving demand for advanced semiconductors for years. Whether the rally ultimately proves sustainable or overheated, the Kospi's performance has become one of the clearest examples of how the AI revolution is reshaping capital flows across global markets. Yahoo Finance |
Strategy Shares Fall After Selling Bitcoin For The First Time Since 2022
Michael Saylor's Strategy surprised investors after disclosing its first Bitcoin sale since 2022. According to CNBC, the company sold 32 Bitcoin between May 26 and May 31 for approximately $2.5 million, receiving an average price of about $77,135 per coin. Although the transaction represents a tiny fraction of Strategy's enormous Bitcoin holdings, the sale immediately drew attention because the company has built its reputation around aggressively accumulating and holding Bitcoin regardless of market conditions. Investors reacted negatively, sending Strategy shares down 5.85%, while Bitcoin itself fell roughly 2%, reaching its lowest level since April 13.
The sale occurred during a period of heightened geopolitical and market uncertainty. CNBC reported that concerns surrounding global tensions and broader risk-off sentiment have weighed on cryptocurrency markets in recent weeks. At the same time, Strategy raised additional capital by selling 801,994 shares of common stock, generating approximately $128.3 million. The company has repeatedly used equity issuance as a mechanism to fund further Bitcoin purchases, making this combination of stock sales and Bitcoin sales particularly noteworthy for investors who closely monitor its capital allocation strategy.
Importantly, the transaction does not signal a major change in Strategy's long-term Bitcoin thesis. The company still holds hundreds of thousands of Bitcoin and remains by far the largest corporate holder of the cryptocurrency. However, the sale demonstrates that even the most committed Bitcoin advocates may occasionally adjust positions to manage liquidity, financing needs, or portfolio strategy. For investors, the episode serves as a reminder that while Strategy remains one of the most bullish corporate bets on Bitcoin ever made, market conditions can still influence tactical decisions even when the broader investment philosophy remains unchanged. CNBC
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