Anthropic filed paperwork for an initial public offering of its shares. The listing is expected to value it at around $1trn. Another giga-IPO, for SpaceX, is due on June 11th. Elon Musk’s rocketry firm is trying to raise as much as $75bn at a valuation of $1.8trn. Alphabet, meanwhile, has said it intends to issue $85bn-worth of new shares. All are taking advantage of a buoyant stockmarket: America’s S&P 500 share index has been on a long winning streak and on June 2nd closed above 7,600 for the first time. “We are definitely in a moment where there’s more greed than there is fear,” said the boss of Goldman Sachs.
As it prepares to go public, Anthropic is also rolling out its Mythos AI model far more widely. It had initially restricted access to around 50 companies, mostly in America, owing to Mythos’s prodigious skill at hacking computer systems. It will now be shared with many more organisations including NATO, SWIFT and the parent company of the New York Stock Exchange.
Britain’s Competition and Markets Authority ordered Google to let publishers block their material from being used in its AI summaries of internet searches. Google must also allow publishers to prevent their output from being used to fine-tune its AI models, and cannot retaliate against those that choose to do so.
The share price of Broadcom fell by 14% in after-hours trading following its earnings report. The chipmaker said it expected revenue of $29.4bn this quarter—more than the consensus forecast by analysts, but less than the most bullish ones. Broadcom’s market value dropped by over $300bn.
Nvidia has developed a new chip for use in personal computers. The RTX Spark is designed to help individual devices run AI models. This marks a contrast with the firm’s other AI chips, most of which are used in data centres.
China’s DeepSeek, yet another AI firm, is close to completing its own fundraising deal. It is seeking around 50bn yuan ($7.4bn) from investors including Tencent.
Rebuild the wall...
Donald Trump’s White House said it intended to impose new tariffs, of 10-12.5%, on 60 trading partners including Britain, Canada, China, the European Union, Japan and Mexico. The Office of the US Trade Representative said it was imposing the levies because other countries had not done enough to prevent the import of goods made with forced labour. But it has announced them, coincidentally, a few weeks before the expiry of time-limited tariffs it levelled after the Supreme Court struck down a previous batch.
English Premier League football clubs have been warned by Britain’s Financial Conduct Authority about “questionable sponsorship deals” with cryptocurrency firms. Several crypto firms that are not authorised by the financial watchdog have signed such deals with top teams. The FCA said these “potentially expose clubs to legal liability, money laundering risks and serious reputational damage”.
An exchange-traded fund managed by Vanguard and tracking America’s S&P 500 share index became the first ETF to oversee more than $1trn-worth of assets.
Andrew Left, an American short-seller, was convicted of securities fraud. Prosecutors said Mr Left had used social-media posts to try to move stock prices after having taken a position, then reversed his trades without telling followers he had done so. Mr Left said the verdict marked “a sad day for free speech”.
Gold is now a more popular reserve asset than American Treasury bonds, according to a report by the European Central Bank. It found that the precious metal made up 27% of central banks’ reserves at the end of 2025, compared with 22% for Treasuries. Euro-denominated assets accounted for 15%.
...and shut those gates
Partners Group limited withdrawals from one of its private-equity funds, seeing its share price tumble in response. Cliffwater, another asset manager, also gated one of its funds, which invests in private credit. The two followed a bevy of others that have restricted redemptions after heavy withdrawal requests.
Would-be American house-sellers are pulling their properties off the market. In April 5.8% of listings were removed without a sale, the joint-highest share in any month since March 2020.
A British parliamentary committee warned the government that its reliance on Palantir “represents an unacceptable point of weakness”. The tech company should not play such a significant role in British defence, health and policing systems, the committee said.