Wall Street Opens Higher as Anthropic IPO Plans Lift AI Stocks

US stocks started Tuesday’s session higher as investors grew more excited about Anthropic’s planned IPO. The S&P 500 rose 0.21% to 7,699.6, and the Nasdaq added 0.31% to 26,904.6. The Dow moved the other way, slipping 0.13% to 51,416.96.

Anthropic IPO Valuation and Nvidia Investment

Anthropic, the company behind Claude, could be valued at more than $2 trillion and may raise as much as $100 billion, which would make it one of the largest listings ever attempted. Its filing shows roughly $518 billion in cloud and infrastructure commitments. Earlier reports said Nvidia may invest up to $10 billion, and the listing is now expected in November.

AI and Semiconductor Stocks Gain

Europe’s STOXX 600 technology index jumped about 2.5% earlier in the day. US chip stocks also rose on hopes of steady spending on computing, networking and data centers.

Treasury Yields and Debt Costs Limit the Rally

The 10-year Treasury yield held near 5.21%, keeping borrowing expensive and weighing on growth stocks. Oracle and Meta have already faced higher debt costs as they borrow heavily to fund data centers.