Good afternoon and welcome to Markets Desk.
Anthropic's leaked IPO prospectus is turning heads across Wall Street and Silicon Valley alike. The AI lab reportedly spent seven point three billion dollars on computing last year while carrying five hundred eighteen billion dollars in fresh financial commitments — numbers so large they're forcing analysts to rethink how they value frontier AI companies entirely.
That conversation is playing out in real time at the White House today, where President Trump hosted a lunch for the top names in artificial intelligence. Jensen Huang and Elon Musk flanked the president, while OpenAI and Anthropic were seated notably farther from the head of the table. Apple was absent altogether — a seating chart that's being read as a political signal as much as a social one.
Meanwhile, the dollar's climb to a two-month high is rippling through commodity markets, with cocoa futures taking a sharp hit. December ICE New York cocoa fell more than three percent as long holders liquidated positions into dollar strength. Abundant supply conditions are compounding the pressure, leaving cocoa among the hardest-hit commodities in today's session.
That's the tape. Markets Desk, signing off the floor.
