Changes in Investment Landscape: Martin Præstegaard Leads ATP Reassessment of US Allocation, Anthropic Secures Over $380 Billion in Funding

In mid-February, the global financial markets exhibited a striking phenomenon—investment institutions from Wall Street to European pension funds are collectively adjusting their strategic deployments. Among these changes, Anthropic’s large-scale funding, shifts in Federal Reserve rate cut expectations, and ATP led by Martin Præstegaard’s reassessment of U.S. risk have intertwined to create a new landscape in the current global investment ecosystem.

Trump and Iran Negotiation Progress: Agreement Expected Within the Month

U.S. President Donald Trump recently stated that progress is expected in nuclear negotiations with Iran within this month. In an interview with the media, he said, “About a month or so” to advance the relevant agreement, emphasizing “It should happen soon, they should agree soon.”

Trump also warned that if Iran does not cooperate, there will be very serious consequences. This statement reflects the U.S.'s continued pressure strategy in Middle East geopolitics.

U.S. Real Estate Market Hit by Winter Storm: Existing Home Sales Hit Four-Year Low

U.S. existing home sales in January experienced the largest decline in nearly four years. According to data released by the National Association of Realtors (NAR), January existing home sales fell 8.4% month-over-month to an annualized rate of 3.91 million units, below market expectations.

The Southern region, the largest housing market in the U.S., saw a 9% decline to 1.81 million units. NAR Chief Economist Lawrence Yun stated that the abnormal cold temperatures and widespread precipitation in January significantly impacted the market, and further observation is needed to understand this anomaly.

Anthropic’s Funding Reaches Record Scale, Valuation Doubles to $380 Billion

In the AI funding race, Anthropic has just reached a new milestone—completing a $30 billion funding deal, with a post-money valuation of $380 billion. Compared to the $13 billion funding a few months ago, this valuation has nearly doubled.

This round was led by the Singapore government investment company and Coatue Management, with participation from D.E. Shaw & Co., Dragoneer Investment Group, Peter Thiel’s Founders Fund, Iconiq, and MGX. Additionally, well-known venture capital firms like Sequoia Capital and Lightspeed Venture Partners, as well as tech giants Nvidia and Microsoft, also participated.

The expansion of this funding scale makes Anthropic one of the highest-valued unlisted AI companies globally, further strengthening its position in the competition with OpenAI. The enthusiasm among investors to bet on leading AI companies is evident.

Martin Præstegaard Assesses Risks: ATP Considering Reducing U.S. Private Equity Exposure

Denmark’s second-largest pension fund, ATP, CEO Martin Præstegaard recently stated that the fund is conducting a comprehensive assessment of investment risks in the U.S. and may need to reduce its exposure to the U.S. private markets.

Præstegaard pointed out that although the U.S. market “has performed very well over the years,” the key question is “whether that performance can continue.” The asset management leader revealed that ATP is closely examining the stability of the U.S. political system and indicated that even if they decide to withdraw from the U.S. market, they will do so gradually.

As an institution managing $112 billion in assets, ATP’s private equity portfolio is about 113 billion SEK (roughly $18 billion), with U.S. assets heavily weighted, including unlisted equities, real estate, and infrastructure across multiple sectors. Præstegaard’s comments reflect cautious attitudes among large global institutional investors toward the U.S. investment environment.

Hedge Fund Manager Optimistic About Fed Rate Cuts: SOFR Futures Become “Best Trade”

David Einhorn, co-founder of Greenlight Capital, recently bet that under Kevin Woor’s leadership, the Federal Reserve will cut rates “far beyond” current market expectations.

Einhorn said he has bought SOFR futures, betting on a more aggressive rate cut by the Fed. In an interview with CNBC, he straightforwardly stated, “One of the best trades right now is betting that this year’s rate cuts will exceed expectations,” and predicted that “by the end of the year, rate cuts will be more than just two.”

This view gained prominence after the release of better-than-expected employment data—traders have since lowered their expectations for Fed rate cuts this year. Currently, the market generally expects about two rate cuts of 0.25 percentage points each, but Einhorn’s outlook suggests he believes the magnitude of rate cuts will be larger.

AI Landscape Shifts: OpenAI Ecosystem Stocks Return to Investor Focus

Despite recent stock market waves caused by new AI players like Alphabet, Anthropic, and Altruist, one former AI “kingmaker” has been conspicuously absent from discussions—OpenAI and its ChatGPT platform.

However, Wall Street’s enthusiasm for investing in OpenAI and related ecosystem companies remains undiminished. According to Brian Barbetta, co-head of the Wellington Management technology team, OpenAI is likely to launch a major new model at some point this year, which could recapture market attention and reverse its “lagging” impression in AI competition.

He stated, “Stocks related to OpenAI will naturally benefit from this.” This suggests that although competitors like Anthropic have made significant progress in funding and valuation, OpenAI, as a pioneer in AI, still holds substantial potential and market influence.