AI valuation race shifts
Anthropic has topped OpenAI to become the most valuable AI startup in the world, nearing a $1 trillion valuation in its latest funding round. The milestone marks a shift in the AI industry's pecking order, with Anthropic's safety-focused approach gaining traction among investors.
The company's rise comes as demand for AI agents and large language models continues to surge across enterprise and consumer markets. Investors have poured billions into AI startups, betting that the technology will reshape industries from healthcare to finance.
European markets react to Ukraine loan deal
European stocks slid on Friday, but the defense sector rallied after Ukraine ratified a $105 billion EU loan deal. The agreement provides Ukraine with long-term financial support as the war with Russia continues into its third year.
Defense stocks across Europe rose sharply on expectations that the loan will fund military procurement. However, broader market indices fell as investors worried about the economic toll of sustained conflict on the continent.
Oil supply warning
ExxonMobil has warned that oil inventories will hit dangerously low levels within weeks, a development that could force prices to shoot higher. The warning comes amid ongoing tensions in the Middle East and production constraints from OPEC+ nations.
Oil prices initially rose on the news but later turned lower as the US-Iran ceasefire deal appeared to reduce the risk of supply disruptions. Still, analysts say the oil market remains volatile and vulnerable to shocks.