AI startup Anthropic told investors it expects to post a profit for a second consecutive quarter as it prepares for an initial public offering. Second-quarter revenue jumped 14-fold year on year to $11.5 billion and the company was profitable on an adjusted basis, while annualised revenue reached $65 billion at the end of July and gross margins topped 80%. Anthropic has selected Nasdaq for the listing, which could value the company at $2 trillion or more.

U.S. core CPI rose 0.3% month-on-month in August, coming in hotter than expected and lifting market pricing for a Federal Reserve rate increase in September to about 88%. The data pushed the dollar higher, weighing on precious metals. Spot gold fell 0.2% to $4,339.96 an ounce, while silver dropped 0.8% to $64 an ounce.

OpenAI is unlikely to go public in 2025 as it focuses on addressing safety concerns around artificial intelligence, CEO Sam Altman said. He called 2025 an “ill-advised moment” for an IPO and suggested a listing is more likely in 2026, according to Fortune. Separately, OpenAI and rival Anthropic have been preparing for potential stock market debuts, though neither has listed shares yet. Anthropic is aiming for a valuation of as much as $1 trillion in an IPO, Reuters reported.

AI startup Anthropic is in talks with Nvidia about bringing the chipmaker in as an anchor investor for a potential initial public offering that could raise as much as $100 billion and value the company at around $2 trillion. Nvidia is considering investing up to $10 billion in the offering, Reuters reported, citing two people familiar with the matter. The discussions are ongoing and the plans could change.

Gold fell after the latest US producer price index (PPI) report, as inflation data and a surge in oil prices reinforced expectations that the Federal Reserve will raise rates this month. Swap traders lifted the implied odds of a hike next week to about 70% from roughly 60%, while the dollar and US yields climbed. Brent crude jumped above $105 a barrel on rising Middle East tensions. Silver slid 4% to $64.53 an ounce.

LME copper hit a record $14,737 a tonne in September 2026, up nearly 50% over the past year. Expectations of U.S. tariffs, tightening mine supply and sharp swings in global inventories have reshaped the market. The White House has paused a decision on copper import tariffs over concerns about higher costs for manufacturers, but uncertainty around a possible 15% tariff on refined copper under the Trump administration continues to support prices. In India, MCX copper fell nearly 3% on Thursday to around ₹1,378 per kg.

Copper on the London Metal Exchange surged to a record $14,533 a ton, up 17% so far this year. Traders have been rushing shipments into the U.S. for months on expectations President Donald Trump could impose tariffs on imported refined copper. That flow has pushed LME inventories outside the U.S. down to the lowest since June last year, tightening global supply further. Recent earnings reports from major copper miners also showed sharp profit gains.

India’s markets regulator is preparing a consultation paper on settlement for weekly-expiry options on the Nifty and Sensex, and may reinstate a volume-weighted average price (VWAP) method. It is also considering settling monthly-expiry stock futures and options using either the prior VWAP approach or a blend of VWAP and closing auction system (CAS) prices. Before CAS was introduced on Aug. 3, both stock and index derivatives were settled using the last 30 minutes’ VWAP.

The Bloomberg Dollar Spot Index fell 0.7% for the week, though losses narrowed after strong US payrolls data on Friday lifted the implied odds of a September Fed rate hike to about 60%. The yen outperformed, rising about 2.4% against the dollar for its best week since July. Gains were driven by expectations that the Bank of Japan may raise its benchmark rate by a quarter point this month and keep the door open to faster hikes thereafter.