HONG KONG, Oct 27 — Tech firms rallied Tuesday following a healthy run-up on Wall Street as traders welcomed AI titan Anthropic’s IPO filing that revived optimism over the sector after stuttering in the second half of the year.
However, the main gains were concentrated in South Korea and Japan, with other Asian stock markets putting in a mixed performance as traders gear up for a slew of key earnings and central bank decisions this week.
In submitting its plans to list its shares, Anthropic, one of the world’s leading artificial intelligence companies, reported first-half revenue surged about 1,300 per cent year-on-year, but also flagged safety risks.
The sale is seen as a crucial test of whether the AI boom can deliver profits, and a disappointing reception could dent enthusiasm further, with traders already questioning the vast sums invested in the sector as well as several companies’ financial positions.
