Stock Market Today: Anthropic IPO Filing Sparks Chip Stock Rally on Wall Street
Photo: MoneyCheck
US stocks rose on Monday as chip makers rallied. Anthropic’s public IPO filing renewed interest in artificial intelligence stocks. The Dow Jones Industrial Average added 146.42 points, or 0.28%, to close at 52,361.58. The S&P 500 gained 0.7% to 7,676.77. The Nasdaq Composite rose 0.82% to finish at 26,169.38. Both the S&P 500 and the Nasdaq are coming off two straight weekly losses. Anthropic reported $16.29 billion in revenue for the six months ended June. That is up 1,304% from $1.16 billion a year earlier. The company behind Claude plans to list on the Nasdaq. Investors are hoping the offering will bring new life to the tech sector. Jay Woods, chief market strategist at Freedom Capital Markets, said the market needed the news.
Also reported by CNBC.
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