Evening digest: oil jumps to $117, SpaceX to enter wireless services
Oil prices surged amid fresh Middle East supply concerns, while Anthropic expanded its European AI ambitions, SpaceX explored a nationwide wireless service, and SK Hynix shelved plans for a US listing of its Solidigm unit. Oil prices rise as Houthi attacks fuel supply concerns Oil prices climbed on Friday, with Brent crude touching its highest level in nearly six months as Houthi attacks in Saudi Arabia heightened concerns about disruptions to Middle Eastern energy supplies. Brent crude futures rose 3.7%, to $117.37 a barrel, after reaching an intraday high of $117.45. US West Texas Intermediate crude gained 4.45%, to $103.91. Brent was on track for a weekly gain of 6%, while WTI was set to finish the week 1.5% higher. The rally followed attacks by Iranian-backed Houthi rebels across Saudi Arabia, including on energy infrastructure. Saudi Aramco ordered the evacuation of its headquarters in Dhahran on Thursday, Reuters reported. Supply concerns were compounded by an oil spill detected off the UAE coast near Umm Al Quwain. Authorities had not identified the tanker involved or disclosed the cause. Shipping security also remained a concern, with October emerging as the worst month for attacks on commercial vessels in the Strait of Hormuz and nearby waterways, according to data cited by Reuters. Anthropic launches AI consultancy venture in Europe Anthropic is expanding its enterprise AI business through a partnership with London-based private equity firm Hg, according to the Financial Times. The companies plan to establish an independent consultancy that will place AI consultants and engineers within businesses to help integrate artificial intelligence into existing workflows and develop new products. The venture is expected to begin operations by the end of 2026, with London and Berlin as its main hubs. Anthropic will contribute capital from its balance sheet, while Hg will invest through the funds it manages. The arrangement combines Anthropic's AI technology and engineering expertise with Hg's experience in software and services businesses. The move puts Anthropic in more direct competition with traditional IT consultancies. The company has already entered the US AI implementation market through Ode, an independent AI services company introduced in July. The European expansion comes as Anthropic prepares for a potential initial public offering. SpaceX explores nationwide wireless expansion SpaceX shares rose 1.84% on Friday as the company reportedly pursued access to at least 80,000 cellular sites across the United States. According to Bloomberg, the company is in talks with cellular infrastructure providers as it seeks to combine Starlink's satellite connectivity with ground-based infrastructure and expand into nationwide wireless services. Crown Castle is among the companies involved in the discussions, alongside American Tower and Vertical Bridge Holdings. Potential agreements could be worth billions of dollars. The initiative could help SpaceX move closer to becoming a fourth nationwide wireless carrier. The company recently received Federal Communications Commission approval to launch 15,000 satellites designed to connect directly to mobile phones. The report also affected established telecom stocks. AT&T shares fell about 7.9% in trading, while Verizon declined around 1.18% and T-Mobile lost approximately 7.71%. SK Hynix shelves Solidigm's potential US IPO SK Hynix shares rose 4.05% on Friday after the South Korean chipmaker abandoned plans to pursue a potential US IPO of its subsidiary Solidigm. In a regulatory filing, SK Hynix said it had halted its review of a possible listing and discussions about pre-IPO investment, citing recent capital market conditions. Solidigm had reportedly been preparing an offering that could raise around $10 billion and value the business at as much as $100 billion. Goldman Sachs and Morgan Stanley had reportedly been selected to work on the proposed transaction. Established in 2021 following SK Hynix's acquisition of Intel's flash memory business, Solidigm supplies high-capacity solid-state drives used in AI data centres. The proposed listing also faced scrutiny from South Korean regulators over concerns about minority shareholder dilution and the implications of listing a subsidiary separately in the US. The decision comes amid wider efforts in South Korea to address the so-called “Korea discount”, in which domestic companies often trade at lower valuations than international peers. The post Evening digest: oil jumps to $117, SpaceX to enter wireless services appeared first on Invezz