Tech stocks today: Nvidia earnings on the horizon, as Anthropic prepares IPO plans

Tech stocks exhibited slight gains on Friday, as investors anticipated a surge of activity in the following week. The pivotal moment for the AI sector will arrive next week with Nvidia's (NVDA) quarterly earnings report on August 26. This announcement is expected to influence various aspects of the industry, from major players to supporting companies.

Meanwhile, Anthropic (ANTH.PVT), an AI startup, is reportedly gearing up to file its IPO paperwork by the end of the month, aiming for a market value surpassing the $75 billion raised by SpaceX during its own IPO in June. Meta Platforms (META), on the other hand, is currently embroiled in a trial in Oakland, California, stemming from a lawsuit filed by 29 state attorneys general.

The case revolves around allegations that Meta intentionally designed its social media platforms to keep children online for extended periods, potentially causing psychological harm. The trial, which has already seen a postponement due to a sick juror, could expose Meta to damages exceeding $1.4 trillion, a claim contested by the state attorneys general.

Anthropic is set to file for its IPO, providing investors with a glimpse into its financials, including revenue growth and key business segments. If Anthropic adheres to its schedule, it will outpace its rival, OpenAI (OPAI.PVT), in terms of market entry. Anthropic was founded in 2021 by former OpenAI employees Dario Amodei and his sister Daniela Amodei, and has gained traction with its Claude Code AI coding agent and various enterprise software offerings.

The startup's financial performance has been impressive, raising $65 billion in May at a valuation of $965 billion, with revenue reaching $11.5 billion in the latest quarter, a staggering 14x increase compared to the same period last year. However, Anthropic has faced scrutiny from the Trump administration, which has designated it as a supply chain threat for potential involvement in fully autonomous weapons or mass surveillance.

OpenAI and Anthropic also grapple with the rise of open-source AI software, particularly from China, which could divert potential customers. Meanwhile, SpaceX (SPCX) stock experienced a setback as early employee shares became tradable, leading to a drop below its $135 IPO price. The stock recovered slightly in early trade, despite the upcoming release of another tranche of shares totaling 88% of SpaceX's 13 billion shares.

The competitive landscape is intensifying for Nvidia, with Cerebras (CBRS) unveiling its latest rack-scale system, claiming a 30x increase in tokens per second per user compared to GPUs. This system employs specialized memory, enhancing performance but also increasing complexity and cost.