Yahoo Finance
Tech stocks advanced on Tuesday after chip stocks staged a modest recovery the day before, Apple (AAPL) announced its long-awaited AI Siri update, and OpenAI (OPAI.PVT) said itconfidentially filed paperworkto go public.
Apple stock fell 1% after the iPhone maker demonstrated its newAI-powered version of Siriand thetrust and safety features of iOS 27at its annualWorldwide Developers Conference (WWDC)on Monday at its Cupertino, Calif., headquarters.
Some strategists chalked up the unenthusiastic investor reaction to a"buy the rumor, sell the news"response, as expectations for Apple's AI strategy reboot had been building for some time.
At the event, Tim Cook received a standing ovation, as it was his last Apple developers conference as CEO.
On Monday afternoon, OpenAI said it confidentially filed paperwork for its initial public offering, setting up a showdown between the AI startup and its rival Anthropic (ANTH.PVT).
OpenAI said it has apost-money valuation of $852 billionand that it could take some time before it goes public.
Anticipation also continues to build ahead of the SpaceX (SPAX.PVT) initial public offering on Friday.
The IPO is expected to be the largest on record, valuing Elon Musk's rocket, satellite, and AI company at roughly $1.8 trillion.
It could also mint Musk as theworld's first trillionaire.
Anthropic (ANTH.PVT) launched its most powerful AI model yet on Tuesday.
Called Claude Fable 5, the software is the first of the company's so-called Mythos-class models.
Anthropic initially revealed its Claude Mythos Preview in April, noting that it proved particularly adept at finding vulnerabilities acrossevery major operating system and web browser, despite not being designed for cybersecurity.
| Product | Price | Change |
|---|---|---|
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