Benjamin Fanjoy/Getty Images NewsDownload this episode on Apple, Spotify, or listen below:Anthropic IPO could make history despite lower valuation. (0:14) Hot CPI boosts odds of a bigger December Fed hike. (1:07) Trump says the FBI is investigating Nvidia's CEO. (2:46)The following is an abridged transcript:Anthropic (ANT) is looking to raise up to $64.4B in its IPO, including shares sold by existing investors, with shares priced between $70 and $78 apiece, according to an updated SEC filing.At the top end of the IPO price range, Anthropic would command a market valuation of about $1T, about half of the $2T being talked about just a month ago.But along with its private placement, the $90.4B deal would surpass SpaceX's (SPCX) record $75B base offering and the $86.2B it raised after exercising its overallotment option.Anthropic is offering 801.4M shares of Class A common stock, while existing investors are selling an additional 23.6M shares.Additionally, the firm will grant underwriters a 30-day option to purchase up to 123.75M additional shares at the IPO price.On the economic frontThe October consumer price index came in hot, sending yields higher.Headline CPI rose 0.4% on the month, with core CPI up 0.3%. Both were just above expectations. The rise would have been worse were it not for a big drag from used cars.The BLS did not issue annual inflation rates because of the government shutdown a year ago.But Bloomberg’s Terminal team backfilled the missing October 2025 observations with Bloomberg-derived estimates. On that basis, they say headline CPI was running at roughly 4.02% year over year in October, up from 3.74% in September.Speaking in London earlier today, Fed Governor Christopher Waller said that if October core CPI came in at 0.3% or above, then a December 50-basis-point hike “should be considered,” adding that in that scenario, a quarter-point increase would put the Fed’s credibility at risk.Fed funds futures now show a 14% chance of a 50-basis-point hike next month, compared with no chance before the CPI arrived.Among active stocks, D-Wave Quantum (QBTS) is under pressure after the quantum computing firm posted a Q3 loss a penny wider than expected, although revenue topped forecasts.Bookings of $1.9M were down $400K year over year.Rocket Lab (RKLB) is sliding after reporting a wider-than-expected Q3 loss that overshadowed strong revenue growth and an upbeat Q4 outlook.And SoftBank's (SFTBY) hefty $7B quarterly loss is shining a light on founder Masayoshi Son's aggressive AI strategy. Higher data center construction costs and financing payments hit the bottom line hard.And in other news of note, here’s your Nvidia (NVDA) espionage update.President Donald Trump said the FBI is “looking into” the affair between CEO Jensen Huang and Alice Huang, who is suspected of spying for China.Trump said he was “amazed” by the allegations but thinks Jensen will “be in good shape.”Jensen’s relationship with Alice Huang helped facilitate at least $7.5B in shipments of Nvidia chips to Chinese firms, The Information reported.The Information says Alice Huang worked with her husband and sister to build a network of companies across China and Singapore to obtain Nvidia chips.Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.