What’s News in Markets: Meta’s AI Bill, IBM’s Comeback, Musk Explores Merger

This week's markets were dominated by AI.

The Wall Street Journal got an exclusive look at a draft IPO filing for Anthropic.

a sign that one of the most anticipated debuts of the year may be on the horizon.

The filing showed the creator of the Claude Chatbot has managed to grow revenue by nearly 15 times compared to the first half of last year.

But it also revealed that Anthropic could spend as much as $750 billion on computing power over the next few years.

And Wall Street is already questioning whether AI will make enough to justify all that spending.

Meanwhile, SK Hynix has scrapped plans to take its memory chip subsidiary public in the U.S., citing market conditions.

Rising oil prices due to continued conflict in the Middle East also contributed to investor anxiety.

Brent crude futures rose 6.2% to $116.72 a barrel.

For the week, the tech-heavy Nasdaq lost 0.7%, while the S&P 500 dipped about half a percent.

And the Dow was the only major index to finish the week higher, adding 0.4%.