Anthropic pushes ahead with IPO, spurring US tech stocks higher

Mōrena and welcome to today’s wrap of the business and political headlines you need to know this morning. Claude developer Anthropic is pushing ahead with an initial public offering, although it’s keeping mum on the size and valuation, which reportedly has been pared back from the heady target of US$1.75 trillion. The artificial intelligence giant’s upcoming debut revived investor optimism for tech stocks, with the Nasdaq Composite reversing Friday’s losses as the likes of Nvidia rallied, while social media giant Meta Platforms signalled plans to raise US$95 billion to fund its own AI ambitions. Brazilian markets tumbled as Luiz Inácio Lula da Silva retained the nation’s presidency, having come second in the first round of voting to Flávio Bolsonaro, who’d made vague pledges to slash the country’s deficit.

First reported by National Business Review. This page is a short excerpt; the full text is theirs.