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Anthropic IPO filing puts AI stocks in focus as Wall Street rises

AI · First reported 26 Oct, 15:47 · Updated 19:06

Image: CNA

US stocks rose on Monday as investors assessed Anthropic’s IPO filing and prepared for major company earnings and a Federal Reserve decision. Technology and chip shares advanced, while investors continued to weigh the returns and financing risks of AI spending.

  • Wall Street’s main indexes edged higher on Monday, with technology shares among the leaders; 10 of the 11 S&P 500 sectors were trading up.
  • Anthropic’s IPO filing disclosed steep losses and rapid revenue growth as the company set out plans to develop AI systems. The filing arrived as investors scrutinise whether heavy AI investment will pay off.
  • The Philadelphia semiconductor index gained about 1 per cent, while AI-linked firms CoreWeave and Nebius fell 2 per cent and 4.8 per cent, respectively.
  • About a third of S&P 500 companies were due to report results that week, including Alphabet, Microsoft and Amazon; the Federal Reserve’s interest-rate decision was scheduled for Wednesday.
Summary written by Lux AI from 5 articles

Key facts

Dow Jones Industrial Average
Up 0.45% to 52,451.58 at 9:55 a.m. ET on Monday.
S&P 500
Up 0.57% to 7,666.88 at 9:55 a.m. ET on Monday.
Nasdaq Composite
Up 0.46% to 26,074.96 at 9:55 a.m. ET on Monday.
Philadelphia semiconductor index
Up around 1% in the report.
Federal Reserve decision
Scheduled for Wednesday; a pause was widely expected, according to the report.

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