Highlights for the morning: Anthropic IPO, Marvell's big deal and silver records

Chatbot creator Claude Anthropic is preparing for one of the largest IPOs. Marvell buys Celestial AI startup Silver hit an all-time high on expectations of a Fed rate cut and growing supply shortages. Read more - in our review of key events for the morning of December 3.

Anthropic, the startup that developed the chatbot Claude, is in early talks about a possible IPO as early as next year and has hired law firm Wilson Sonsini, which previously accompanied Google and LinkedIn offerings, the Financial Times has learned. The company is also raising a billion-dollar private round, including $15 billion from Microsoft and Nvidia, according to the publication's sources. That round could value Anthropic above $300 billion.

The potential IPO could put the startup in direct competition for capital with ChatGPT creator OpenAI, which is also exploring options to enter the market but says it has no immediate plans to list, the FT points out. Investors believe Anthropic could "hijack the initiative" from OpenAI, especially after its valuation rises.

Data center chip maker Marvell has announced the purchase of startup Celestial AI for a minimum of $3.25 billion, with the amount potentially increasing to $5.5 billion if certain revenue is achieved. The deal strengthens Marvell's position in optical interconnects, a key technology for scaling AI systems where tens or hundreds of chips need to be interconnected, CNBC explains. The deal is expected to close early next year, and the maximum payout will be reached if Celestial earns $2 billion by 2029.

In parallel, the company reported better-than-expected financial results last quarter and forecast data center revenue growth of 25% next year, the channel noted. Marvell shares jumped nearly 9% in the postmarket after it reassured investors by saying its specialty chip division was getting repeat orders - suggesting continued growth amid soaring spending on AI computing, Bloomberg writes .

Silver rose to a new all-time high of $58.95 an ounce amid speculative bets amid supply shortages and expectations of US Federal Reserve policy easing, Bloomberg reported. Investors expect that the publication of macro data delayed due to the government shutdown will clarify the regulator's further policy, and the forthcoming change of the Fed's head will put pressure to lower rates, the agency notes.

Capital inflows into silver-backed ETFs rose by 200 tons - the highest since 2022 - while stocks on the Shanghai exchange fell to a decade low, Bloomberg reports. Hopes of an imminent rate cut also supported gold, which rose 0.4% to $4224 an ounce.

- Japan's broad Topix index was little changed, with the Nikkei 225 jumping nearly 1.5%.

- Hong Kong's Hang Seng Index fell 1.3 percent, while mainland China's CSI 300 Index declined 0.5 percent.

- In South Korea, the Kospi index rose 1.1 percent and the Kosdaq rose 0.33 percent.

- Australia's S&P/ASX 200 added 0.2 percent.

- Futures on the Nasdaq 100, S&P 500 and Dow Jones Industrial Average were up about 0.2 percent.

This article was AI-translated and verified by a human editor