US stock futures edge higher as Anthropic targets valuation above $2 trillion

  • US stock futures edged higher as chip stocks recovered from Monday’s sector-wide selloff.
  • S&P futures rose 0.11%; Dow futures gained 52 points, and Nasdaq 100 futures climbed 72 points.
  • Anthropic is targeting a valuation above $2 trillion in a potential public offering.

US stock futures edged higher Tuesday as chip stocks recovered from a sector-wide selloff, although elevated oil prices, Treasury yields and uncertainty surrounding the Middle East conflict limited risk appetite. At 7:20 a.m. ET, Dow E-minis were up 52 points, or 0.1%, S&P 500 E-minis had gained 9 points, or 0.11%, and Nasdaq 100 E-minis were up 72 points, or 0.24%. Anthropic’s IPO prospectus showed rapid growth alongside wider losses and indicated the AI company is targeting a valuation above $2 trillion, potentially setting a benchmark for valuations of leading artificial-intelligence firms. The prospectus also warned that its models could pose catastrophic or existential risks to humanity. Marvell Technology, Micron Technology and Broadcom each rose about 1% in premarket trading, while Nvidia gained 0.7% after boosting its share-buyback authorization by a record $150 billion. Investors were also watching OpenAI CEO Sam Altman’s remarks at DevDay, economic data, and comments from at least six Federal Reserve officials. Brent crude hovered near $105 a barrel, the 10-year Treasury yield remained near its highest level since 2007, and traders saw a 70% chance of another interest-rate increase in October, according to CME FedWatch Tool.

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US stock futures edge higher as Anthropic targets valuation above $2 trillion - CoinPost Terminal