Tech Stocks Rally as Anthropic Moves Toward IPO — US Market Wrap

The resurrection of the artificial-intelligence trade fuelled stock gains as Anthropic filed for an IPO, with investors anticipating this week's results from tech titans and the Federal Reserve decision. The S&P 500 has reversed its two-day losing streak. High-profile chipmakers rose, boosting a carefully monitored industry gauge by 2.8%. The Nasdaq 100 gained 1.1%. In a turbulent session, Brent crude settled around $116. Brazilian markets fell following President Luiz Inácio Lula da Silva's re-election, raising concerns that Latin America's largest economy's budgetary problems may worsen. Anthropic's IPO will be a significant test of AI sentiment, since euphoria about the technology fueled a four-year bull market in stocks. According to a filing, the company behind Claude intends to list its shares on the Nasdaq Global Select Market under the name ANT. Meta Platforms is looking to raise up to $95 billion by issuing common and preferred stock, funding its AI development with one of the largest equity offerings in history. Microsoft will offer buyouts to approximately 60,000 employees as part of its drive to reduce expenses and retool its staff for the AI future.