Markets closed the session with a mix of record-setting IPO ambitions, a crypto surge, and geopolitical jitters. Anthropic is reportedly preparing for a public listing that could match SpaceX's historic offering, while Bitcoin rallied above $72,500 on renewed hopes for clearer U.S. crypto rules. Oil prices climbed to multi-week highs as tensions with Iran threatened supply, and Walmart shares fell despite the retailer lifting its annual outlook.
Anthropic targets IPO on par with SpaceX
Anthropic, the developer behind the Claude AI assistant, is exploring an initial public offering that could raise $75 billion or more, according to Bloomberg, citing people familiar with the matter. That would put the deal on par with SpaceX's record-setting IPO, which raised $75 billion initially and $86.2 billion after overallotments. Discussions are still ongoing, and the final size could shift.
The company could file publicly as soon as the end of August. Anthropic raised $65 billion in May at a valuation of $965 billion, surpassing OpenAI's $852 billion valuation from its March funding round. Revenue momentum is strong: preliminary second-quarter revenue exceeded $11.5 billion, up from $787 million a year earlier, and the annualized run rate reached $65 billion by the end of July.
However, the cost of AI development remains heavy. Anthropic posted a net loss of nearly $42 billion in 2025, compared with about $8.3 billion the prior year. The company is also working on a revolving credit facility that could exceed its earlier $10 billion target, with Morgan Stanley, Goldman Sachs, and JPMorgan advising on the potential IPO.
Bitcoin tops $72,500 on regulatory optimism
Bitcoin jumped 6.4% to $72,607, its highest level since late May, as President Donald Trump urged Congress to advance cryptocurrency legislation. Ethereum gained 10%, and XRP rose 16%. Hyperliquid's token also climbed after Trump said CFTC Chairman Mike Selig was working to bring the decentralized exchange to the U.S.
The rally followed calls for Congress to pass the Clarity Act, which would treat Bitcoin and other cryptocurrencies as commodities rather than securities. A procedural vote is scheduled for Sept. 15. The move also triggered a wave of short liquidations: CoinGlass data showed $664 million in Bitcoin short positions were wiped out in 24 hours.
Analysts are watching whether Bitcoin can hold above $70,000 once the short-covering impulse fades. Its 50-day simple moving average sits at $64,217, while the 200-day average is at $68,975. For more on the broader crypto rally, see our coverage of the $190B surge and Ethereum's 18% jump.
Oil rises on Iran tensions
Oil prices climbed to their highest levels in more than three weeks as concerns about Middle Eastern supply disruptions intensified. Brent crude futures rose 2.1% to $93.62 a barrel, while U.S. West Texas Intermediate gained 2.7% to $88.15, both reaching levels not seen since July 24.
The gains followed President Trump's warning of economic consequences for countries supporting Iran. The conflict has disrupted oil and gas flows across the region, and shipping through the Strait of Hormuz remains far below pre-war levels. UBS analyst Giovanni Staunovo said elevated tensions could lead to further supply disruptions and tighter markets. Before the war, the Strait of Hormuz handled shipments equivalent to about one-fifth of global oil consumption.
Walmart slips despite higher forecast
Walmart shares fell more than 9% in trading even after the retailer raised its full-year financial forecasts. Revenue reached $187.9 billion, up nearly 6% year over year and ahead of the roughly $186 billion expected by analysts. Adjusted earnings per share came in at 81 cents, versus expectations of 74 cents.
However, U.S. comparable sales increased only 2.6%, below the 3.8% analysts had expected. Average ticket growth slowed to 1.1%, while transactions rose 1.5%. Walmart raised its fiscal 2027 net sales growth forecast to 4%-5% from 3.5%-4.5% and lifted its adjusted EPS outlook to $2.80-$2.87. Its third-quarter guidance was softer, with adjusted EPS expected at 62-64 cents versus analysts' 68-cent estimate.
E-commerce sales rose 24%, and Walmart Connect revenue increased 43%, providing growth outside traditional retail. The market's reaction suggests investors are focused on the slower comparable sales and cautious near-term outlook.
This article is for informational purposes only and does not constitute financial advice.
