Anthropic’s IPO plans come into focus, Nvidia earnings provide next test for AI trade
Tech stocks slid Thursday, as bond market woes continued to hit equities on Wall Street. The Nasdaq fell 1%, following a slight rebound on Wednesday.
Anthropic is reportedly eyeing publicly filing its initial public offering paperwork as soon as the end of the month, according to Bloomberg, the company is also targeting a potential haul exceeding the $75 billion SpaceX brought in when it went public in June.
The next big test for the AI trade happens next week, when Nvidia reports its quarterly earnings on Aug. 26. The announcement will have a wide-ranging impact on everything from hyperscalers to fellow pick-and-shovel companies.
Meta’s social media addiction trial continues in Oakland, Calif., next week, after Thursday’s hearing was postponed due to a sick juror.
A collection of 29 state attorneys general is suing the social media giant over claims that it purposely developed its services to keep children online as long as possible and caused psychological harm. The trial is a test case for that larger suit and involves the attorneys general from four states.
Meta claims the trial could leave it exposed to as much as $1.4 trillion in damages, but state attorneys general dispute that figure.
