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Anthropic races toward Wall Street debut
Artificial intelligence company Anthropic is moving toward going public on Wall Street, the latest chapter in its meteoric rise from a little-
known research laboratory to one of the leading AI companies valued at $965 billion.
Anthropic said Monday it has submitted a confidential filing with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. Anthropic said last week it had raised $65 billion in private funding that will push its valuation to $965 billion.
Bond market provides new inflation warning
The world is getting more uptight about lending money to President Donald Trump's government.
The energy price spike triggered by the Iran war has seeped into the price of bonds that help fund the U.S. government. That's caused interest rates to climb in ways that are worsening affordability pressures, creating a new risk for Republicans in November's elections.
Powell warns against political pressure on Fed
Former Federal Reserve Chair Jerome Powell used one of his first major public appearances since leaving office to deliver a broad defense of independent institutions while accepting the John F. Kennedy Profile in Courage Award in Boston.
Powell, who frequently clashed with President Donald Trump during his eight years leading the central bank, warned against political interference in monetary policy and described the Federal Reserve's independence as a "priceless asset." He also defended universities, courts and Congress as pillars of democracy.
Nvidia bets on AI personal computers
Nvidia has unveiled powerful new chips to bring advanced artificial intelligence to Windows laptops and desktops.
These superchips will be powering new personal computer models from brands like Microsoft and Dell, and are set to roll out in the fall of this year, according to Nvidia CEO Jensen Huang. Huang spoke at the annual Nvidia GTC conference in Taipei on Monday.
Pelley of '60 Minutes' decries 'murder' of show
Reports say Scott Pelley has accused CBS head Bari Weiss of "murdering" the hugely successful "60 Minutes." The longtime correspondent made the remarks during a tense meeting with the newsmagazine's staff and new producer Nick Bilton.
The Status website reports that Pelley grilled Bilton about the firings last week of Bilton's predecessor Tanya Simon, and correspondents Sharyn Alfonsi and Cecilia Vega. Pelley reportedly also told Bilton, a former technology journalist, that he had slender qualifications for his job.
Oil prices rise, but not enough to halt records
Oil prices rose following the latest fighting to threaten the U.S.-Iran ceasefire, but Wall Street isn't very worried, and U.S. stocks ticked to more records.
The S&P 500 added 0.3% Monday to its prior all-time high set on Friday. The Dow Jones Industrial Average rose 0.1%, and the Nasdaq composite climbed 0.4% to likewise set records. The price for a barrel of Brent crude rose more than 4%.
Berkshire Hathaway buys homebuilder
Berkshire Hathaway's new CEO Greg Abel hinted that he may depart from Warren Buffett's longtime hands-off operating model at the conglomerate as he announced a $6.8 billion cash acquisition of homebuilder Taylor Morrison.
Abel suggested in the deal announcement he plans to consolidate Taylor Morrison with Berkshire's existing site-built homebuilding operations that are part of its Clayton Homes subsidiary.