Anthropic's IPO filing revives tech rally ahead of earnings and economic data releases
Anthropic’s planned IPO boosts tech stocks as investors await major earnings reports and the Fed’s rate decision, alongside key US GDP and inflation data.
On Monday, October 26, 2026, major US indices experienced a rally, with the Nasdaq Composite up 0.8%, the S&P 500 increasing 0.7%, and the Dow Jones advancing 0.3%. The upward momentum carried over into Tuesday, with Nasdaq 100 futures following the trend and gaining 0.4%. This market surge was attributed to a renewed interest in tech stocks and optimism surrounding artificial intelligence, which was fueled by Anthropic's IPO filing.
Anthropic, a company that has been rumored for a potential market debut, publicly announced its filing on Monday to go public on Nasdaq with the ticker symbol ANT. The company is projected to be valued between $1.5 trillion and $2 trillion upon its IPO, which could make it the largest tech IPO in history, surpassing SpaceX's previous record valuation of $1.8 trillion.
Despite its impressive growth, Anthropic has noted that the pace of growth may slow following its public listing. The founders of Anthropic hold a significant portion of voting power through a special class of shares, meaning that public investors will have limited influence over the company's direction.
As the tech rally continued, other sectors also experienced gains. The AI and semiconductor industries saw prices surge, while Asian tech stocks rose overnight. However, not all markets responded positively to the AI boom. Meta, the social media giant, fell 1.9% on Monday following its announcement to raise an additional $95 billion through stock offerings to support its AI expansion initiatives.
The high cost of the AI race was highlighted by Meta's disclosure, as Nvidia, Advanced Micro Devices, and Broadcom expressed interest in participating, reigniting discussions about circular funding in the industry.
Although equity markets rallied, other asset classes did not share in the upward trend. The price of gold dipped towards $4,010, and cryptocurrencies experienced little upward momentum. This week's market activity will be shaped by earnings reports from major tech companies, including Microsoft, Alphabet, and Amazon, which are expected to shed light on AI capital expenditure and profitability. Investors are also closely watching Tesla and Meta's earnings reports, as concerns about AI spending persist.
In addition to the earnings releases, market attention will be focused on upcoming economic data releases, such as the Federal Reserve's interest rate decision, alongside updates on US GDP and PCE inflation.
Written by urgent.news from Jerusalem Post Tech & Start-Ups's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
