Anthropic plans $2 trillion IPO in October-the largest ever-that will eclipse SpaceX

Key Points:

• Anthropic is planning an IPO in October with a potential valuation of $2 trillion, which would be the largest public offering ever, surpassing SpaceX; investors expect the AI lab's annual revenue run rate to reach $100-$120 billion by year-end.
• U.S. stocks rose following a benign inflation report, leading traders to anticipate the Federal Reserve will hold interest rates steady at 3.5% in September; retail investors contributed significantly by net buying $7.2 billion recently.
• Q2 earnings season has been exceptionally strong, with 77% of over 1,500 companies beating EPS expectations, marking one of the best performances in the last 20 years.
• Iran is deliberately keeping the Strait of Hormuz closed amid ongoing conflict, allowing only limited ship passage and signaling intent to prolong the war; the U.S. disputes this control, with former President Trump asserting U.S. dominance over the strait.
• AI adoption appears to be reducing job openings in IT services and increasing unemployment among young college graduates, although experts remain divided on whether this signals a broader jobs crisis.