US stocks advanced on Monday as Anthropic’s initial public offering filing revived enthusiasm for artificial intelligence, lifting semiconductor shares following weeks of selling pressure.
The Dow Jones Industrial Average gained 146.42 points, or 0.28%, to 52,361.58. The S&P 500 rose 0.7% to 7,676.77, while the Nasdaq Composite climbed 0.82% to 26,169.38.
Anthropic, the company behind Claude, publicly filed for a Nasdaq listing under the ticker ANT, reporting revenue of US$16.29 billion for the six months to June, up 1,304% from US$1.16 billion a year earlier.
The filing helped restore confidence in AI-related stocks following concerns about the sustainability of substantial investment in data centres and computing infrastructure.
Meta Platforms also announced plans to raise US$95 billion to support its AI expansion, while SpaceX secured a US$40 billion debt agreement to finance AI chips.
Semiconductor stocks rallied, with the iShares Semiconductor ETF gaining nearly 3%. Nvidia rose 2.4%, Micron Technology advanced 3%, Broadcom climbed 2.3% and AMD added 2.8%.
Despite the rebound, technology stocks remain under pressure following consecutive weekly declines, with investors increasingly focused on whether AI investment can deliver sufficient returns.
The positive lead follows gains on Wall Street after Anthropic’s much-anticipated IPO filing highlighted strong revenue growth, boosting sentiment towards artificial intelligence stocks.
Chipmakers rallied, with the Philadelphia Semiconductor Index gaining almost 3% in afternoon trading. Meta’s plans for a US$95 billion share offering to fund its AI expansion also attracted investor attention.
Oil prices eased slightly from six-month highs as Saudi Arabian and Turkish officials travelled to Tehran in an effort to revive peace talks amid the Iran war.
Investors are now looking ahead to earnings from Alphabet, Microsoft and Amazon later this week, while the Federal Reserve is widely expected to leave interest rates unchanged at its Wednesday meeting.
