- US stocks rallied as Anthropic's public listing boosted AI and semiconductor shares, lifting Nasdaq 1%
- S&P 500 rose 0.7%, Dow gained 126 points, with tech stocks recovering after recent losses
- Chipmakers Nvidia, Micron, Broadcom, and AMD led gains; semiconductor ETF surged over 3%
US stocks rallied on Monday as Anthropic's move towards a public listing revived investor appetite for artificial intelligence stocks, lifting semiconductor shares and pushing the Nasdaq Composite up 1% on course to hit a one-month high.
The S&P 500 advanced 0.7%, while the Dow Jones Industrial Average gained 126 points, or 0.2%, as investors returned to technology stocks after two consecutive weeks of losses for the broader market and the Nasdaq.
Chipmakers led the advance, with Nvidia shares rising 2.6%, Micron Technology gaining 2%, Broadcom climbing 2.2% and Advanced Micro Devices adding 1.1%. The iShares Semiconductor ETF, which tracks the sector, surged more than 3%.
The fund remained down roughly 25% from its peak and had lost around 13% in October, reflecting investor concerns about whether the enormous spending on AI infrastructure can generate sustainable returns.
Anthropic's public filing with the US Securities and Exchange Commission provided a fresh catalyst. The company behind the Claude AI assistant plans to list on the Nasdaq under the ticker symbol “ANT”. Its filing disclosed revenue of $16.29 billion for the six months ended June, a 1,304% increase from $1.16 billion in the corresponding period a year earlier.
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The proposed offering has drawn attention as investors look for new ways to participate in the AI boom and assess whether the sector can sustain its rapid growth.
“The market needed this, just like it needed SpaceX,” Jay Woods, chief market strategist at Freedom Capital Markets, said of Anthropic. He described the development as a confidence booster, reflecting expectations that demand for the offering could be strong after prolonged investor interest.
The filing also helped ease some anxiety around the AI trade, which has weakened amid questions over the scale and durability of data centre investment.
Other developments reinforced the upbeat sentiment. Meta Platforms said it plans to raise $95 billion to fund its AI investments, while SpaceX chief executive Elon Musk said the company had closed a $40 billion debt deal to purchase AI chips.
Shares of AI infrastructure providers CoreWeave and Nebius Group rose 4.7% and 2%, respectively, despite Musk warning that more than 200 companies in the specialised cloud computing segment faced potential failure.
Micron also drew support from a bullish assessment of the memory market. Bank of America analyst Vivek Arya said he had become more positive on the industry after meetings with Micron management indicated that memory supply could remain tight in 2027 and 2028.
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The bank maintained its buy rating, describing memory as a critical component of AI performance and efficiency.
Investors now face a packed week of earnings and policy decisions. Results from Alphabet, Amazon and Microsoft are expected to offer fresh clues about AI demand and spending, while the Federal Reserve's Wednesday decision will shape expectations for borrowing costs.
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