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Top stories today:
- Anthropic captures 73%+ of new AI spend
- Fed holds rates as Iran war clouds outlook
- Brent oil hits $111 as Trump calls for de-escalation
- Tempo launches open-source protocol for AI agent transactions
- Fal said to seek $300M-$350M at $8B valuation as ARR hits $400M
- Meta Quest users lose Horizon Worlds access
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations):
1. Anthropic captures 73%+ of new AI spend, up from 50/50 with OpenAI in Jan.
It was 60/40 in OpenAIās favor as recently as early Dec.
OpenAI is on its pace to generate $25B in revenue in 2026, vs. Anthropicās $19B.
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3. Fed holds rates as Iran war clouds outlook
The Fed held rates at 3.50%-3.75% on Wed., the second straight meeting with no change.
Officials voted 11-1 to hold.
The S&P 500 extended losses, while Treasury yields and the dollar rose as Powell spoke.
Underlying inflation has accelerated to 3.1% in Jan., while 92K jobs were lost in Feb.
Too soon to judge Iran warās impact, Powell said.
Gov. Stephen Miran dissented, calling for a quarter-point cut.
Powell expressed caution on cuts, though 12 of 19 officials projected at least one cut this year
4. Brent oil hits $111 as Trump calls for de-escalation
Brent was +8%, while WTI traded at $97:
