Anthropic reportedly plans a $2 trillion IPO in October—the largest ever—that will eclipse SpaceX

Good morning. On Fortune’s radar today:

Anthropic’s $2 trillion IPO will eclipse SpaceX.

Markets: Q2 was awesome.

The futures market for ‘compute’ could hit $150 trillion.

Iran wants to prolong the war as long as possible. 

AI isn’t eating jobs yet—but it’s nibbling at the edges.

Biofuel is putting up the price of food.

Sam Altman was ‘peer-pressured and tricked’ into an ‘unbelievably terrible’ internship at Goldman Sachs.

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Anthropic targets $2 trillion IPO in October—largest ever public float

Anthropic will stage an IPO in October at a predicted valuation of $2 trillion, even larger than SpaceX and therefore the largest public offering of stock ever, the FT reports.

Investors told the paper they believe the AI lab’s annual revenue run rate will be between $100 billion and $120 billion by the end of the year. The IPO is still under discussion, and the valuation has not been formally fixed within the company, sources said.

Anthropic Said to Be in Talks to Buy ‘World Model’ Startup Decart for $6 Billion - Bloomberg

U.S. stocks rise as benign inflation number makes interest rate rises less likely

Traders in Fed futures now believe the central bank will keep interest rates at 3.5% in September, according to CME FedWatch, which shows 64% favor the “hold” position. Stock investors cheered the news (rising rates are bad for equities) and the S&P 500 ticked up 0.26% yesterday. Futures are up marginally this morning before the opening bell in New York.

As always, markets were buoyed by retail investors who net bought $7.2 billion (mostly via ETFs) in the most recent week recorded by Arun Jain and his colleagues at J.P. Morgan.

S&P 500 futures were up 0.1% this morning. The index was up 0.26% yesterday. 

In Europe, the Stoxx 600 was up 0.15% in early trading and the U.K.’s FTSE 100 was down 0.35% before lunch.

Asia: South Korea’s KOSPI was up 3.56%. Japan’s Nikkei 225 was up 1.16%. India’s Nifty 50 was down 0.25%. China’s CSI 300 was down 0.57%. 

Brent crude was $87 per barrel this morning.

Bitcoin was at $63,759.

Q2 was one of the best earnings seasons of the last 20 years

More than 1,500 companies........

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