Stocks rose Monday as semiconductor makers rallied after Anthropic’s IPO filing revived enthusiasm for the artificial intelligence trade.
The Dow Jones Industrial Average added 146.42 points, or 0.28%, to end at 52,361.58. The S&P 500 gained 0.7% to 7,676.77, while the Nasdaq Composite jumped 0.82% to close at 26,169.38.
Chip stocks and other AI-related shares rose as Anthropic publicly filed for an IPO, an offering investors are betting will add new life to the flagging tech sector. The AI company behind Claude reported $16.29 billion in revenue for the six months ended June, a 1,304% increase from $1.16 billion during the same period a year earlier. It plans to list on the Nasdaq under ticker symbol “ANT.”
Other major AI headlines added to the risk-on sentiment. Meta Platforms said Monday it is planning to raise $95 billion to support its AI investments. SpaceX CEO Elon Musk said over the weekend that the satellite and rocket launch company has closed a $40 billion debt deal
SPI down 6 - Gold up - Oil down
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