OpenAI CEO Sam Altman said the company will not go public in 2026. Fortune reported that OpenAI had previously discussed pulling a potential IPO forward and floated a possible listing valuation of about $1 trillion. OpenAI said it raised $122 billion in committed capital in March at a postmoney valuation of $852 billion, highlighting computing power as a strategic advantage.

The Nasdaq 100 is set for its quarterly rebalance, and SpaceX affiliate SPCX could see its index weight rise as more shares become freely tradable after lockups. The free float has increased to nearly 30% from about 10% after the IPO, which could lift the weighting from 1.25% to 2.25% and prompt passive buying by index funds and ETFs. SPCX shares are currently fluctuating between $135 and $150.

SoftBank’s SB Energy has filed for an IPO and is seeking to raise between $5 billion and $7 billion, with trading potentially starting in September. The company said it is “substantially dependent” on OpenAI, which is both a major tenant and an equity investor. SB Energy reported a net loss of approximately $3.2 billion in the first six months of 2026 on revenue of about $139 million, largely from its legacy energy operations.

Strategy, formerly MicroStrategy, resumed Bitcoin purchases after a 10-week pause, buying 4,603 BTC for $369.7 million at an average price of $80,318 per token. The company said its holdings rose to 845,050 BTC, acquired for a combined $63.73 billion at an average cost of $75,412. Over the same period, it raised about $602.8 million in net proceeds from share sales and used $151.8 million to repurchase roughly 1.56 million shares of its STRC preferred stock.

NVIDIA reported $96.2 billion in quarterly revenue, a record for the semiconductor industry, with its data center unit delivering $89 billion, up 117% year over year. Persistent demand for AI hardware has helped semiconductor stocks outperform large-cap tech in 2026, with Marvell Technology up 185% and Micron Technology up 220%. A semiconductor-focused ETF has risen more than 70% this year, while an ETF tracking the “Magnificent Seven” has gained 4%.

Beijing AI startup Moonshot is looking to push its Kimi K3 model into the U.S. market and is discussing revenue-sharing arrangements tied to K3 services on Microsoft Azure, Amazon Web Services and Google Cloud. The company is seeking as much as 30% of the revenue generated from those services, Reuters reported. Kimi K3 has 2.8 trillion parameters and has posted strong results in independent evaluations, but its heavy computing needs make in-house deployment difficult for many enterprises. The proposed split is broadly in line with terms Moonshot has discussed with other large customers.

Anthropic’s annualized revenue run rate hit $65 billion at the end of July, a sevenfold increase from a year earlier. The company posted preliminary revenue of $11.5 billion in the second quarter, up 14fold from the same period a year earlier. The pace of growth outstrips rival OpenAI’s $40 billion run rate, positioning Anthropic ahead of a potentially large IPO.

OpenAI’s revenue growth is accelerating, with its annualized revenue run rate now on track to exceed $40 billion. ChatGPT has more than 1 billion monthly users, giving the company a large base to monetize via subscriptions and a growing advertising business. OpenAI’s run rate has roughly doubled from more than $20 billion at the end of 2025, Bloomberg reported, citing people familiar with its finances.

U.S. producer inflation in July came in below expectations, with headline PPI up 0.1% month over month and core PPI rising 0.2%, both under the Dow Jones consensus. On a year-over-year basis, headline PPI increased 4.7% and core PPI rose 4.2%. After the release, market expectations for the Federal Reserve to keep raising interest rates fell further.