Stocks finished higher on Monday, Oct. 26, as a public filing from Anthropic revived interest in artificial-intelligence companies even while investors continued to question the cost of building data centers and buying chips.
Anthropic filed a Form S-1 registration statement with the Securities and Exchange Commission for a proposed initial public offering. The filing identified Nasdaq as the intended listing venue and the proposed ticker as ANT, but it did not specify the number of shares to be sold or an offering price. The filing brought the Claude developer closer to becoming a publicly traded company and supplied a fresh test of investor demand for businesses built around advanced AI models.
The market response was strongest among chipmakers. Apple fell 1. 1%, Alphabet declined 1.
Meta’s stock moved lower after the company outlined plans to raise $35 billion through a stock sale for AI investments and said it could raise another $60 billion through a new class of shares once trading begins. Nvidia, Advanced Micro Devices and Broadcom indicated they may buy a combined $5 billion of the offering. The proposed financing added to debate over arrangements in which chip companies could help fund the infrastructure purchases that support their own sales, while Meta’s shares ended the day down despite the scale of its planned investment.
The broader market advance came as investors prepared for a crowded week of corporate earnings and central-bank decisions. Alphabet and Microsoft were scheduled to report quarterly results on Wednesday, followed by Amazon on Thursday, and roughly one-third of S&P 500 companies were expected to report during the week.