US Stocks Slip as Anthropic Targets $2 Trillion IPO and OpenAI Scraps Model
Updated
Updated · Yahoo Finance · Sep 29
US Stocks Slip as Anthropic Targets $2 Trillion IPO and OpenAI Scraps Model
3 articles · Updated · Yahoo Finance · Sep 29
Summary
The Dow fell 0.6%, the S&P 500 lost 0.3%, and the Nasdaq dipped 0.1% as investors reassessed the AI trade after fresh setbacks around two leading startups.
Anthropic's leaked IPO prospectus showed it is targeting a $2 trillion valuation while warning AI could pose "existential risks to humanity," and OpenAI shelved a next-generation model after safety issues emerged in internal testing.
Oil eased as Saudi Arabia resumed East-West pipeline exports and US-Iran contacts restarted, but Brent still held near $96 a barrel and WTI near $91, keeping geopolitical pressure on markets and bond prices.
US data added to the cautious tone: consumer confidence fell to its lowest since 2014, and August job openings dropped to 7.097 million from a revised 7.335 million, ahead of Friday's jobs report.