US Stocks Rise as Anthropic's 1,304% Revenue Surge Revives AI Trade
Updated
Updated · CNBC · Oct 25
US Stocks Rise as Anthropic's 1,304% Revenue Surge Revives AI Trade
2 articles · Updated · CNBC · Oct 25
Summary
The Dow rose 212 points, or 0.4%, while the S&P 500 and Nasdaq each gained 0.3% after Anthropic publicly filed for an IPO on Nasdaq under ticker ANT.
Anthropic reported $16.29 billion in revenue for the six months ended June, up 1,304% from $1.16 billion a year earlier, helping lift chip and AI-linked shares.
Nvidia gained 1.4%, Micron 2.3%, Broadcom 1.5% and AMD 1.3%, even as neocloud stocks stayed under pressure; CoreWeave fell 1.7% and Nebius dropped 3.7%.
Oil's retreat also supported equities, with Brent down 1.4% to $115.02 and WTI off 2% to $101.01 after Friday's spike tied to reports of possible US-Israel strikes on Iran.
The rebound follows back-to-back weekly losses for the S&P 500 and Nasdaq, with traders now focused on Wednesday's Fed decision; futures imply a 90% chance rates stay at 3.75%-4%.