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Anthropic, the AI company behind chatbot Claude, has confidentially filed an S-1 with the SEC, setting the stage for what could be one of the most closely watched IPOs in recent memory. As LLM companies jockey for position, the filing puts Anthropic ahead of rival OpenAI, which is reportedly preparing its own confidential submission. For investors looking to gain direct exposure to the frontier AI buildout, the opportunity has arrived, though the timing of Anthropic’s IPO remains unclear.
On the macro economic front, the ISM Manufacturing PMI came in at 54.0 for May, beating estimates and delivering its strongest showing since 2022. Factory activity has been growing for the past five straight months. New Orders were a bright spot, printing at 56.8 against expectations of 54.8, signaling healthy demand momentum heading into the summer. The Prices Paid component eased to 82.1 from an estimate of 85.0, a welcome development suggesting some softening in input cost pressures, though the reading remains elevated and will keep inflation watchers on alert.
Barry Diller is making a move to take MGM Resorts (NYSE:MGM) private, according to a report in the Wall Street Journal. Diller’s People Inc., formerly known as IAC, already holds a 26.1% stake in the casino giant and submitted a nonbinding proposal Monday to acquire the remainder at $48.30 a share in cash, placing the total enterprise value at $18 billion. Diller has previously made the case that MGM represents a business less vulnerable to technology disruption than most, and if the board accepts the offer, the Las Vegas-based casino operator would exit the public markets under People Inc.’s full control.
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The Nasdaq Composite is kicking off June on a cautious note, with futures pointing modestly lower Monday morning. A fresh flare-up in Middle East tensions sent oil prices surging and offset what would otherwise be a straightforward tech-driven rally. Nasdaq-100 futures slipped 0.2%, S&P 500 futures dipped 0.1%, and Dow futures shed 17 points, or 0.03%, as traders weighed a complicated geopolitical backdrop against a market that closed May in record territory.
Oil is the session’s loudest variable, with WTI crude futures jumping 5% to around $91 a barrel and Brent climbing 4% to near $95, reversing course after the U.S. benchmark posted its steepest monthly decline since April 2025, tumbling nearly 17% in May. The catalyst is hard to ignore: Iranian state media reported the country’s negotiators are cutting off communications with the U.S. following Israeli attacks on Lebanon, while U.S. Central Command confirmed American forces intercepted two Iranian ballistic missiles overnight that were targeting U.S. troops in Kuwait.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 50,896 Down 0.27%
Nasdaq Composite: 27,016 Up 0.13%
S&P 500: 7,581 Up Up 0.05%
Nvidia (NASDAQ:NVDA | NVDA Price Prediction) is making its move into the consumer PC chip market with the launch of RTX Spark, an Arm-based CPU/GPU/AI chip designed for Windows laptops and mini-PCs. The flagship configuration packs 20 CPU cores, 6,144 GPU cores, and up to 128GB of unified LPDDR5X memory, targeting local AI agents, creators, developers, and gamers. The rollout already has significant industry backing, with more than 30 laptops and 10 desktops in development across a partner list that includes Microsoft, Dell, HP, Asus, Lenovo, MSI, Acer, and Gigabyte, signaling that Nvidia’s ambitions well beyond the data center are very much underway.
Michael Saylor’s Strategy (Nasdaq: MSTR) unloaded 32 Bitcoin’s last week, generating proceeds of $2.5 million.
Honeywell’s (NASDAQ: HON) quantum computing unit Quantinuum is aiming higher ahead of its public debut, seeking up to $1.46 billion in its upcoming IPO, a significant step up from the prior $1.05 billion target. The upsized raise signals growing investor appetite for quantum computing exposure as the sector attracts increasing attention from both institutional money and the broader market.
CoreWeave (NASDAQ:CRWV) has become the first AI cloud provider to successfully bring up and validate Nvidia’s Vera Rubin NVL72 on its platform, a milestone that puts the company at the front of the line for one of Nvidia’s most advanced AI systems.
Dell Technologies (NYSE:DELL) is up more than 1% and HP (NYSE:HPQ) is gaining around 4% in the company’s wake. Intel (NASDAQ:INTC), which has long held dominance in the PC chip market, is on the other side of the trade, falling more than 6% as Nvidia’s entrance into its territory sharpens the competitive threat.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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