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Apple's stock rose 0.5% to close at $342.96, pushing its market valuation to $5.01 trillion, the first time the company has ended a trading day above that threshold after six prior intraday crossings. The close came even as most major tech stocks, including Oracle, Meta, Nvidia, Microsoft, Amazon and Google, finished the day lower.
A securities filing showed Berkshire Hathaway purchased 10 million new shares of Bending Spoons at $33 each, a $330 million investment that pushed the Italian software acquirer's stock up 35%. This follows Berkshire's earlier $600 million investment made when Bending Spoons went public on the Nasdaq in July, bringing its total stake to 4%.
Anthropic will disclose its third-quarter financial results for the first time at a meeting with institutional investors on Wednesday, according to people familiar with the matter. The company, which has not commented publicly, is reportedly preparing for what could become the largest IPO on record.
New Constructs, an independent financial research firm, called Anthropic's upcoming IPO the 'most ridiculous IPO of 2026,' estimating the company's fair value at roughly $150 billion against a reported target of $2 trillion. The firm notes Anthropic posted $4.6 billion in 2025 revenue alongside a $42 billion net loss, and says matching its desired valuation would require profits double Nvidia's trailing annual net income. Anthropic's IPO prospectus also discloses risks that its AI models could exhibit behaviors like resisting shutdown or blackmail-like manipulation.
The Financial Times reported that internal memos OpenAI sent investors in late September projected annualized revenue approaching $50 billion, roughly $20 billion below an earlier $70 billion figure that had previously circulated among investors. OpenAI had not disputed the higher $70 billion estimate before the new figure emerged. News of the revised forecast coincided with a 1.25% drop in the Nasdaq and nearly 3% decline in Nvidia shares on Thursday.
Nasdaq CEO Adena Friedman said at the TOKEN2049 conference in Singapore that tokenizing assets like Treasurys, equities and money market funds, along with the flow of money, could free tens of billions of dollars currently tied up as collateral across the financial system. She cited growing institutional interest in tokenization, linking it partly to the passage of the Genius Act, which created a U.S. regulatory framework for stablecoins.
Research firm New Constructs has criticized Anthropic's upcoming IPO, estimating its value at only $150 billion despite projections of reaching a $2 trillion market cap. The firm highlights the company's significant losses and compares its revenue to Nvidia's profits, questioning the viability of its business model amid rising open-source AI competition. The report labels the IPO as potentially the most exaggerated of 2026.
SpaceX's stock price has increased throughout October, approaching the peak levels seen in June when the company first listed on Nasdaq. The rally appears to be driven by multiple factors, though specific reasons are not detailed.
The Nasdaq and S&P 500 reached new highs on Monday, with the Nasdaq closing at a record, despite Treasury yields climbing to multiyear peaks. Key companies like Nvidia, Microsoft, and Meta led the rally, supported by strong earnings and growth catalysts specific to each firm. This divergence suggests that investor enthusiasm for these tech giants is overshadowing broader bond market pressures.
U.S. stocks closed higher Friday after September nonfarm payrolls showed just 29,000 jobs added, far below the 84,000 expected, pushing unemployment to 4.2%. The soft data raised odds the Federal Reserve will hold rates steady in October to 78%, up from 36% a week earlier. Nvidia, CrowdStrike, Palo Alto Networks and AMD all touched all-time highs, lifting the Nasdaq for the week even as the Dow and S&P 500 finished lower.
Oura, maker of the smart ring, has delayed its planned Nasdaq stock listing just days after formally launching the IPO process. The company attributed the pause to uncertain market conditions.
Oura announced it is postponing its planned public listing, just a week after formally launching IPO plans on Sept. 21 that aimed to raise up to $2.2 billion via 50 million shares. CEO Tom Hale said the company is profitable, seeing strong demand and business growth, but is choosing to wait for a better moment rather than proceed now.