Happy Friday! Anthropic could be on the verge of an IPO that would make history, and put it in a race with SpaceX for the biggest debut ever. See what’s fueling the massive expectations and how high this AI giant could go.

Michael Burry is back at it again. The legendary contrarian investor just fired off another warning, this time pointing to a bizarre market streak that hasn’t happened in three decades. Is it the calm before the storm? Click to see what has Burry worried.

Plus, Benzinga is offering readers a unique opportunity to learn from a veteran strategist this Sunday who will be going over the AI trade, possible rate hikes, bond yields and what it means for your portfolio. Reserve your free spot.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

• BENZINGA NEWSLETTER SPOTLIGHT

BENZINGA TRIVIA CHALLENGE

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Anthropic Could Top SpaceX For Biggest IPO

Anthropic could be gearing up for a historic October IPO, putting it head-to-head with SpaceX for the title of biggest debut ever thanks to surging AI growth. The company is also in talks for its largest-ever acquisition for AI startup Decart.

Investors are already modeling a valuation that could push the Claude maker into uncharted territory, but is it really ready to enter the IPO stratosphere?

Read on to see just how high Wall Street thinks Anthropic could soar, and the risks that could stand in its way.

Rate Hikes And The AI Trade

Three forces are driving this market: bond yields, rate hikes, and whether the AI trade is back or dead. Chris Capre goes live on Sunday at 1:00 PM ET to break everything down, and how he's trading them.

Hear from market experts and take advantage of this exclusive offer.

Yesterday: U.S. indexes finished higher Thursday, with the S&P 500 soaring above 7,800 to hit an intraday record. The Nasdaq also continued its winning streak as both indexes remained on pace for their third straight week of gains. Earnings season continues to impress and be one of the best ever, with S&P 500 earnings growth tracking around 50%, well above Wall Street’s expectations. Lastly, cooler-than-expected July inflation readings have significantly lowered expectations for a Federal Reserve rate hike in September. The chances of a hike now stand at 32%, after being around 50% just two weeks ago.

On Our Radar: Looking ahead, Wall Street will be paying attention to today’s retail sales, business inventories and Michigan inflation expectations for clues on consumer spending, business activity and inflation. On the earnings front, all eyes will be on Baidu (BIDU), which will report before the market opens on Tuesday.

Top Gainers: Workday (WDAY), SanDisk (SNDK), GoDaddy (GDDY), Trade Desk (TTD), Western Digital (WDC), HP (HP), Super Micro (SMCI)

Top Laggards: Cisco (CSCO), Coherent (COHR), Lumentum (LITE), Corning (GLW), Yeti (YETI), Tapestry (TPR), PDD (PDD), SpaceX (SPCX)

Here's a look at some of the biggest winners and losers from Thursday’s session.

See how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.

Reddit Gets Upvoted: After striking out multiple times this year, the social media company has finally secured its spot in the S&P 500. See what changed, why Reddit finally made the cut and what it means for the stock going forward.

Buyout Buzz: Workday just became the center of a potential mega-deal that could reshape the software sector. See which investor is circling the company and how high shares could go moving forward.

Earnings Twist: Applied Materials just delivered a blowout quarter and raised its outlook, however, shares still fell after hours. Read on to see what’s spooking investors despite the record results.

iFlation: The AI boom is creating an unexpected problem that could hit your wallet: higher prices for your next iPhone and other electronics as memory costs soar. Click to see why your next device could be caught in the crossfire.

Stock Of The Day: Shares of Dell soared yesterday and broke through a big resistance area. See where shares could be headed next.

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