TLDR
- Dow, S&P 500 and Nasdaq futures rose Tuesday morning as oil prices and bond yields pulled back.
- AMD stock gained after agreeing to buy AI startup World Labs for $8.2 billion.
- A leaked Anthropic IPO prospectus reportedly targets a $2 trillion valuation and warns of AI risks.
- OpenAI shelved its next generation AI model over safety concerns during internal testing.
- Tech CEOs including Dario Amodei and Mark Zuckerberg are set to meet President Trump at the White House.
US stock futures moved higher on Tuesday morning. Investors weighed falling oil prices against fresh questions about artificial intelligence safety.
Futures for the Dow Jones Industrial Average rose 0.2%. The S&P 500 also gained 0.2%, while Nasdaq 100 futures rose 0.3%.
Dow futures were up about 75 points in early trading. That put the index on track for a positive open.
AMD Buys AI Startup World Labs
AMD stock rose after the company agreed to buy World Labs. The AI startup was founded by researcher Fei-Fei Li.
The deal is valued at $8.2 billion. Analysts see it as a move to gain AI talent and technology.
The AMD news was soon overshadowed by other AI headlines. Reports about Anthropic and OpenAI drew more attention from investors.
Anthropic and OpenAI Raise AI Safety Questions
Reuters reported that a leaked Anthropic IPO prospectus shows the company targeting a $2 trillion valuation. That would be more than double its last known valuation of $965 billion.
The document reportedly also includes warnings that AI could pose existential risks to humanity. Anthropic has not confirmed the filing publicly.
Separately, the Wall Street Journal reported that OpenAI shelved its next generation AI model. The company reportedly made the decision after safety concerns surfaced during internal testing.
OpenAI also disclosed further agentic AI breaches over the weekend. The news added to growing unease about AI safety across the industry.
Shares linked to the AI trade were still edging higher in premarket trading. Cloud computing companies Oracle and CoreWeave both gained ground.
Tech executives are set to meet with President Trump at a White House lunch on Tuesday afternoon. Attendees reportedly include Anthropic CEO Dario Amodei, Meta CEO Mark Zuckerberg, Nvidia CEO Jensen Huang and Google CEO Sundar Pichai.
The meeting comes as public concern about AI risk continues to grow. It was not immediately clear what topics would be discussed.
Oil prices slipped after Saudi Arabia resumed exports through its East-West pipeline. US and Iranian officials also met with mediators to restart talks.
Brent crude was trading near $96 a barrel on Tuesday. West Texas Intermediate crude was around $91 a barrel.
The 10-year Treasury yield stood at 5.216% early Tuesday. That was down from Monday’s peak of 5.274%, the highest level since June 2007.
UBS Global Wealth chief investment officer Mark Haefele said investors will watch Wednesday’s August personal consumption expenditures report closely. He said contained inflation could help calm bond markets.
Tuesday’s economic calendar also includes the Job Openings and Labor Turnover Survey and the Conference Board’s consumer confidence report. Both are expected to give investors more insight into the health of the economy.
CarMax stock rose after the used car dealer posted strong quarterly results. The report added a bright spot to an otherwise cautious trading session.
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