US Stocks Rise as Anthropic IPO Filing Revives AI Trade

US stocks closed higher on Monday as a rebound in AI-related shares lifted markets after Anthropic filed for an IPO. The S&P 500 gained 0.7%, the Nasdaq rose 1.1% and the Dow added 146 points. The filing brings Anthropic (+%) closer to becoming the first company focused primarily on advanced AI models to go public, testing investor demand for AI-linked equities. Some shareholders plan to sell stock in the offering. Chipmakers advanced, with Nvidia up 2.4%, Micron gaining 3% and AMD rising 2.8%. Tesla jumped 5.2% after Barclays upgraded its rating to Overweight from Equal Weight. Meta fell 1.9% despite plans to raise up to $95 billion through stock sales to fund its AI ambitions. Verizon dropped % after reporting weaker-than-expected revenue. Alphabet (-1.1%), Microsoft (+1.5%) and Amazon (-0.4%) are due to report Q3 results later this week.