Tech Bytes: Big banks unite to back Anthropic’s compute buildout
Meanwhile, agents continue to claim the spotlight as Nvidia and Meta expand their partnership and IBM introduces controls to secure frontier intelligence.
The artificial intelligence boom in the United States is driving up corporate valuations, with Anthropic preparing for a public listing. Anthropic, valued at US$965 billion, aims for an IPO valuation between US$1.5 trillion and US$2 trillion, potentially making it the first AI lab to enter the top 20 globally by market capitalisation.
This surge in US tech valuations is widening the gap with Chinese firms, as none of them made the top 20, according to CompaniesMarketCap. US technology giants, including Nvidia, dominate the list, with Nvidia's market capitalisation reaching US$5.26 trillion. The valuation gap can be attributed to investor perceptions, regulatory crackdowns in China, and concerns over whether AI spending will create real value for shareholders.
The Nasdaq Composite has risen 13.9% this year, while China's tech-heavy Star Market has fallen 4.5%. Despite these concerns, semiconductor and equipment companies, with Nvidia among the leaders, are benefiting from the AI boom. However, concerns over an AI bubble, US restrictions on China's semiconductor industry, and the unclear return on investment in AI are limiting near-term earnings growth.
Written by urgent.news from SCMP Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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