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Time:2026-05-29T07:23:48Z

Anthropic surpasses OpenAI as the world's most valuable AI startup with a valuation nearing $1 trillion, marking a seismic shift in the AI industry pecking order. Wall Street extends its record rally on AI optimism and hopes for a de-escalation of the Iran conflict, with Dell Technologies surging on a strong earnings beat. East Asian markets hit record highs on Iran war wind-down hopes, while Japan grapples with a 50% plunge in crude imports that exposes its Middle East energy dependence. American households face mounting financial strain as inflation hits a three-year high, eroding spending power and savings. US emergency oil reserves are shrinking rapidly as oil prices fall on US-Iran talks breakthroughs, though analysts warn the era of cheap oil may not return.

Anthropic tops OpenAI in valuation, nears $1 trillion

Anthropic tops OpenAI in valuation, nears $1 trillionAnthropic has overtaken OpenAI to become the world's most valuable AI startup, with its valuation nearing $1 trillion after its latest funding round. Reports value the company at approximately $965 billion, leapfrogging its chief rival in the AI arms race. The milestone reshuffles the competitive landscape of the AI industry, where Anthropic was long seen as the underdog to OpenAI's first-mover advantage. The development signals that enterprise confidence and investor capital are flowing broadly across the AI sector rather than concentrating on a single player.

Sources:
Anthropic nears $1 trillion valuation after latest funding round, leapfrogging OpenAI (MarketWatch)
Anthropic Tops OpenAI to Become the World’s Most Valuable A.I. Start-Up (NYT)
OpenAI no longer the most valuable AI startup as Anthropic hits $965 billion (Business Today)

AI boom drives Wall Street to new record highs

AI boom drives Wall Street to new record highsThe Dow, S&P 500 and Nasdaq are set to extend their record rally, fueled by AI optimism and hopes for de-escalation of the Iran conflict. Dell Technologies surged after a strong earnings beat driven by AI infrastructure demand. The AI boom is reshuffling the global stock market hierarchy, with investors looking beyond chip stocks toward other sectors with AI exposure. Analysts note that the AI-driven rally is broadening beyond a narrow set of big tech names, creating new opportunities across the market.

Sources:
Stocks making the biggest moves after hours: Dell Technologies, American Eagle Outfitters, Gap &... (CNBC)
Why the AI boom is reshuffling the global stock market hierarchy (CNBC)
Dow, S&P 500 and Nasdaq set to extend record rally on Iran, AI hopes; Dell Technologies soars (MarketWatch)
Dell stock soars toward another record high as the AI boom drives a big earnings beat (MarketWatch)
Want an alternative to chip stocks? This sector with an AI angle is breaking out. (MarketWatch)

Japan, South Korea markets hit records on Iran war wind-down hopes

Japan, South Korea markets hit records on Iran war wind-down hopesStock markets in Japan and South Korea hit record highs on growing hopes for a winding down of the Iran war. However, Japan's crude imports have plunged 50% since the conflict began, starkly exposing the nation's heavy reliance on Middle Eastern energy. The country remains on edge over naphtha supply despite rising shipments from the US and India. The mixed picture highlights the lasting economic scars from the Iran conflict even as markets celebrate potential de-escalation.

Sources:
Japan, South Korea markets hit records on hopes for a winding down of the Iran war (AP News)
Japan on tenterhooks over naphtha, even as US, India supply rises (Nikkei Asia)
Japan's crude imports plunge 50% since Iran war, exposing Mideast reliance (Nikkei Asia)

Inflation at three-year high strains American households

Inflation at three-year high strains American householdsInflation in the US has reached a three-year high, severely eroding Americans' income and spending power. A key inflation gauge has worsened, and many households are burning through their savings at an alarming rate. Despite the stock market hitting new highs, a survey shows two out of three Americans are cutting back on spending. Reports indicate American households are dangerously close to the financial edge, with savings buffers largely depleted after years of persistent price pressures.

Sources:
Inflation is at a three-year high — and now many Americans are burning through their savings (CNN)
Key inflation gauge worsens as Americans’ income and spending power erodes (AP News)
As US stock market hits new highs, 2 of 3 Americans are cutting back on spending, survey shows (AP News)
This is how close American households are to the financial edge (NPR)

US emergency oil reserves shrink as Iran talks advance

US emergency oil reserves shrink as Iran talks advanceAmerica's strategic petroleum reserve is shrinking rapidly as the country draws down emergency oil stockpiles. Oil prices fell following reports of a breakthrough in US-Iran talks, raising hopes for de-escalation of the conflict. However, analysts warn that even if the Iran war winds down, the era of $60-per-barrel oil is likely over for good. The combination of reserve depletion and structural supply constraints suggests energy costs will remain elevated.

Sources:
America’s pile of emergency oil is shrinking fast (CNN)
Oil prices fall after report of breakthrough in US-Iran talks (BBC)
The Iran war may be winding down — but the era of $60-a-barrel oil could be over (MarketWatch)