Global stock markets rose on Tuesday as Anthropic’s long-awaited IPO prospectus renewed hope in the AI trade. The frontier AI firm said revenue had grown fourteenfold in the first half of the year compared to the same period in 2025, and disclosed a $112 billion cash pile.
Its $80 billion loss over the same period did little to frighten investors: The tech-heavy Nasdaq rose by more than 1%. Many hope Big Tech earnings due this week will further stabilize a wobbly market that has grown wary of excessive AI spending. Others warn of the risk of the US going the way of China, where the AI bubble is bursting, wiping out almost $500 billion from tech firms’ valuations.
