*as of 10/6; Sources: S&P, BTC, FTSE, DJRE, GOLD

It’s been another big week for AI infrastructure private companies, starting with the AI chip startup Etched, which is reportedly seeking a valuation above $40 billion in a new funding round. This would nearly double its previous $21 billion valuation from just seven weeks ago and quadruple its valuation from July. The newly launched power and infrastructure company Axiom Solutions, a spinoff from publicly traded company Flex, secured a $2 billion convertible preferred equity investment at a $37.5 billion valuation. Finally, alternative energy startup VoltaGrid finalized a $1.5 billion funding round that values it at more than $10 billion.

➨ TAKEAWAY: AI infrastructure has been one of the hottest pre-IPO sectors all year, and its momentum is not stopping. AI is not just about the major software model companies, but also about the chips and power that allow those models to run. However, retail investors should consider that private valuations don’t necessarily hold up in public markets. Cerebras, the most recent major AI infrastructure IPO, is down significantly since it went public, and whichever startup goes public next will be a major test for the sector.

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🏡 Pending sales fall: The spike in mortgage rates led to pending U.S. home sales falling 8.5% year-over-year in September and existing home sales dropping by 2.5% annually. Home value growth slowed to just 1%, but the average U.S. rent rose by 2.7%, the best annual gain in 18 months as more potential buyers are turning to renting.

💵 Fed reviewing private credit: The Federal Reserve has been visiting major banks as part of a regulatory review into the private credit sector, as concerns regarding systemic risks, valuation transparency, and the rising default rate continue to grow.

🏢 Senior housing demand growing: The sector has seen 21 straight quarters of occupancy gains, with the national occupancy rate topping 90% while annual inventory growth is at just 0.4%. Currently, the rate of construction is roughly one-tenth of what it would need to be to keep up with this growth in demand.

🦖 Nanotyrannus up for sale: "Jodi," a 20-foot long Nanotyrannus skeleton, is coming up for auction at Sotheby’s later this month with a high estimate of $9 million. First classified as a T-Rex, Jodi was renamed and reclassified after paleontologists studied it, which dropped its estimate from the original $20 million.

📉 PE fundraising plummets: While the private equity sector has seen a rebound in deal activity and in exits this year, fundraising continues to decline and is on pace for its lowest level since 2020.

🧑‍🚀 Space memorabilia: Items from the 1960s Space Race era still remain the most sought after within the space memorabilia segment, even as younger buyers start to jump into the space, no pun intended. Autographs, surface-flown artifacts, and anything unique tied to prominent astronauts tend to be the most desirable items.

The top performing token in the top-50 by market cap last week was OKB, the utility token of crypto exchange OKX which offers fee discounts and ecosystem perks for holders. Two major catalysts boosted its price this week - first, it announced a joint venture with NYSE owner ICE to offer 24/7 tokenized stock trading if approved by the SEC. Second, OKX raised new funding at a $25 billion valuation, with backing from Standard Chartered Bank, Circle, and Ripple. OKB is up 18.3% over the last month, has nearly doubled in price since early June, and its fortunes will parallel that of its associated exchange. If OKX continues to grow in volume and prominence, OKB should as well.