Anthropic’s confidential IPO filing and softer oil prices lift equities as investors weigh geopolitical risks and AI sector growth.
Global equities advanced on Tuesday, driven by optimism around artificial intelligence after Anthropic filed confidentially for a U.S. IPO. The move intensified competition in the AI sector, with Alphabet seeking to raise $80 billion for AI infrastructure expansion.
Brent crude futures fell over 1% to $94 a barrel, reversing prior gains after U.S. officials signaled ongoing talks with Iran. The STOXX 600 rose nearly 0.8%, supported by strong guidance from chipmaker STMicroelectronics and a rebound in tech stocks.
U.S. manufacturing PMI climbed to 54.0 in May, exceeding expectations and adding to positive sentiment. However, lingering geopolitical uncertainty kept investor caution elevated.