Goldman Sachs Stock Leads Dow Jones Gains as Anthropic IPO Draws Focus

Key Facts

Gains came on the day Anthropic announced it had filed for an initial public offering in the United States, bringing the company closer to offering shares to investors. The Dow opened up 105.3 points, or 0.20%, at 52,320.45 points, according to Reuters. Goldman Sachs’ contribution underscores how the price-weighted index’s gains depend on the performance of a limited number of influential stocks.

The Dow closed above its previous close of 52,215.16 points on October 23, according to EL7 data, despite retreating from its session high. Goldman Sachs stock had closed at $875.68 on October 23, but that price applies to Friday’s session and does not represent the stock’s Monday close, according to EL7 data. That figure therefore does not establish the stock’s move on the day the Dow led the news. By contrast, available data do not include a closing price for JPMorgan stock on October 26, contrary to what the previous draft reported. The Dow’s move came as investors followed Anthropic’s filing, while Reuters noted that the news drew attention ahead of a busy week of earnings announcements and a rate decision.

Anthropic filed with regulators to sell shares to the public for the first time, according to the Associated Press. The company plans to list its shares on the Nasdaq Global Select Market under the ticker ANT, the news agency reported. That puts it on track for a Wall Street debut next month, while rival OpenAI could follow with an IPO later, according to an Associated Press report. The offering would give investors a way to track public demand for AI companies through a share issuance, after much of the discussion focused on the scale of capital spending required to develop the technology. Investor Peter Andersen told Reuters the offering’s outcome “will be a significant indicator of how investors feel about continuing to support capital spending to develop AI.”

Filing data, as reported by the Associated Press, showed Anthropic revenue exceeded $16 billion in the first half of 2026, 14 times revenue in the same period a year earlier. Its net loss was $80.7 billion in the first half, compared with a loss of $13 billion in the first half of 2025. But the 2026 figure included a one-time accounting charge of $72.4 billion related to an accounting adjustment to financing agreements, the news agency reported. The figures put revenue growth alongside a large accounting loss, while clarifying the effect of the one-off charge on the year-over-year comparison. The offering’s size could test the market’s ability to value AI companies amid rising spending and mixed profitability indicators.

Investor interest in the offering comes amid concerns that market volatility and high borrowing costs could affect corporate financing and appetite for listings. Reuters said market volatility had weakened the autumn IPO calendar and that higher borrowing costs had heightened investor concerns about the debt-funded AI investment boom. The Associated Press had reported that SpaceX’s IPO in June raised $86 billion, a record that Anthropic’s offering could surpass. That possibility places the anticipated IPO among the largest offerings the market is watching, without meaning that the size of the proceeds has been settled. In this context, Andersen said the offering’s outcome could reveal how willing investors are to continue funding spending on AI development.

Investors are also looking to the Federal Reserve this week, with the Federal Open Market Committee meeting on October 27 and 28 and the central bank chair due to hold a press conference on the second day, according to the central bank’s calendar. At its previous meeting on September 16, the committee raised its target range for interest rates by a quarter percentage point to 3.75%–4.00%. FXStreet reported that futures priced in about a 10% probability of raising the target range from 3.75%–4.00%; the report did not establish an expectation that rates would be held at 4%. Markets are also awaiting results from nearly one-third of S&P 500 companies this week, along with rate decisions from the Federal Reserve and other major central banks, according to the Associated Press. The committee’s decision, scheduled for October 28, remains the next monetary policy event on investors’ calendar.