AI optimism pushed the Nasdaq to record highs as Anthropic and OpenAI opened a new price war
Wall Street and Asian markets rallied this week on renewed AI enthusiasm, with the Nasdaq closing at record highs as chipmaker and AI-linked valuations climbed and Treasury yields eased back from recent peaks. The rally coincided with a burst of new model releases: Anthropic unveiled Claude Opus 5.5, and OpenAI expanded its GPT-6 lineup with cheaper Sol and Luna variants, intensifying a price war among the major AI labs even as investors continued to bet heavily on both sides of an increasingly bifurcated US-China AI race around the Trump-Xi summit. Financial stocks lagged the broader rally as a flattening yield curve drew attention, and analysts pointed to Meta's fast-growing Muse AI agent as a case study in how quickly Wall Street now expects AI products to become genuine revenue engines rather than experimental sideshows. The rally underscored how thoroughly AI enthusiasm has come to set the market's tone, for better or worse, nearly four years into the current boom.
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