Tech firms gain on Anthropic IPO optimism; HSBC slumps in London

Tech firms rose Tuesday for a second day as AI titan Anthropic's IPO filing revived optimism over the sector. But gains were tempered as traders awaited key earnings reports and central bank meetings. In New York, the tech-heavy Nasdaq led the way, up more than one percent in midday trading. The wider S&P 500 was also higher, but not by as much, while the Dow was little changed. In a share-launch filing Monday, Anthropic, the mother company for Claude AI, reported first-half revenue surged about 1,300 percent year-on-year, but also flagged heavy capital spending ahead. "The fact that this five year-old company could soon launch a record-breaking IPO helped boost investor confidence, following a decidedly rocky period across AI-adjacent corporations of late," said David Morrison, an analyst at Trade Nation.

First reported by Agence France-Presse. This page is a short excerpt; the full text is theirs.