Morning bid Americas: Antimatter
SPY•Tech stocks rallied on Monday as investors viewed Anthropic’s IPO filing and Meta’s additional equity-raising plans as signs of confidence in the AI boom. Anthropic’s prospectus showed slowing revenue growth and plans for at least half a trillion dollars in spending, while the Fed, oil prices and political events also featured in a busy week for markets.
1. Tech stocks rally
Tech stocks and chip shares rose on Monday, with the gains steadying markets ahead of major hyperscaler earnings later this week. The rally followed Anthropic’s IPO filing and Meta’s plans for additional equity raising.
2. Anthropic’s IPO figures
Anthropic’s prospectus showed a loss-making company with explosive but slowing revenue growth, with a quarter of revenue coming from five customers. Its spending plans total at least half a trillion dollars. The filing gave no listing date, and the company is targeting a valuation of around $1.5 trillion.
3. Markets face busy week
Oil prices approached six-month highs despite mediation efforts in the Iran war. Ahead of the Federal Reserve meeting, the US Treasury was set to auction five-year notes; the article said markets expected the Fed to pause a series of rate rises that began last month. US unemployment had remained below 5% for 64 consecutive months, the longest stretch since 1965–1970.
