TGIF Monthly Wrap: November 2025
- ICMSS
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JCI Strengthens Following MSCI Index Rebalancing, SoftBank Stock Falls, Microsoft and NVIDIA Plan US$15B Anthropic Fund, Superbank Pursues Rp3.06 Trillion IPO.
By Emirsyah Kevin Mecca, Attala Sabian Andhika, Maria Ella Risandra Puruhita, Nashwah Putri Az-Zahra
November 28, 2025 at 16:30 GMT+7
MSCI Headquarters | Source : MSCI
The JCI gained 0.13% as investors responded to the news of the MSCI index rebalancing announcement. The MSCI rebalancing includes the addition of BREN and BRMS to the global standard index due to their increasing market capitalization and liquidity. Meanwhile, ICBP and KLBF were removed from the global standard index, with TINS being added to the MSCI small-cap index. The reshuffle shifted interest to sectors such as energy and mining while pressuring consumer stocks. Investors expect inflows into new additions as global funds adjust their portfolios, with the rebalancing viewed as a catalyst that underpins the JCI.
SoftBank CEO Masayoshi Son and OpenAI CEO Sam Altman attend an event to pitch AI for businesses | Source: Nikkei
SoftBank divested its entire 32.1 million-share stake in NVIDIA, valued at US$5.83 billion, alongside a US$9.17 billion partial sale of T-Mobile US holdings, as part of a broad liquidity push ahead of major capital commitments. The moves support SoftBank’s plan to invest US$22.5 billion in OpenAI, supplemented by bond issuances and a margin loan against ARM. Despite improved liquidity, SoftBank’s stock dropped 10% as investors grew concerned about excessive tech valuations. Executives, however, maintain confidence, with CEO Masayoshi Son reaffirming positive expectations for AI growth.
Anthropic logo | Source: Shutterstock
Microsoft and NVIDIA will invest US$15 billion in Anthropic, aligned with Anthropic’s commitment to purchase US$30 billion in Azure compute capacity and adopt NVIDIA’s latest chips. Microsoft and Anthropic become mutual customers in a circular framework that strengthens Anthropic as a major Azure client. The deals expand Anthropic’s ecosystem beyond Amazon and Google as cloud and chip providers compete to secure long-term AI compute demand. Overall, the agreements mark a major realignment in the generative-AI industry, reinforcing long-term ties between major tech companies and frontier-model developers while shaping the sector’s trajectory.
Superbank logo | Source : Superbank.id
Superbank Pursues Rp3.06 Trillion Initial Offering
Superbank is initiating an initial public offering targeting up to Rp3.06 trillion through the issuance of 4.4 billion new shares priced at Rp525–695 per share. The bank plans to allocate 70 percent of the proceeds for lending expansion and 30 percent for product and technology development. Bookbuilding is scheduled for 25 November to 1 December 2025, followed by the public offering on 10–15 December 2025. Ahead of the IPO, Superbank recorded a marked improvement in financial performance, returning to profitability with higher margins and increased lending supported by deposit growth.
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