Semiconductor and chip-related companies, seen as major beneficiaries of the AI boom, helped drive gains on Wall Street. (EPA Images pic)NEW YORK: US stocks closed higher on Monday, with the S&P 500 and Nasdaq coming off consecutive weekly declines, as Anthropic's IPO filing helped boost sentiment in AI-related stocks in a week filled with a host of market catalysts.
Anthropic disclosed steep losses and red-hot revenue growth in its filing for a US initial public offering, laying out its ambition to build AI systems capable of reshaping the global economy despite the high costs of developing the technology.
The AI lab is pushing ahead with its listing plans even as a once-lively autumn IPO calendar has slowed, with recent market volatility prompting companies to delay offerings.
