Stocks Close Q3 Higher, Micron’s AI Sales Jump and Anthropic Prepares for a Landmark IPO: What’s Going On Today

Markets

US markets ended Wednesday’s session mixed, with the Nasdaq higher and the S&P 500 slightly lower, while both recorded a second consecutive quarterly gain. Reuters reported August US inflation rose less than expected, giving the Federal Reserve some breathing room. Reuters also reported the Bank of England warned that risks from AI and debt were becoming more likely to materialize.

Tech

Micron forecast quarterly revenue above analyst estimates as demand for AI memory drives rapid growth. Its data-center revenue jumped elevenfold, CNBC reported, consistent with Micron’s September 30 results. Reuters reported the company said customer demand and supply constraints were driving the stronger outlook.

Anthropic is planning what could be the largest initial public offering in history, Reuters reported on September 30, as the company pitches both AI’s economic potential and its risks. The company remains private; no IPO date or final valuation has been announced.

Sources

Reuters, CNBC.