Anthropic filed confidential IPO papers Monday, positioning its Claude chatbot against OpenAI for a public listing. Nvidia’s entry into the PC market followed, sparking optimism across the AI ecosystem. Investors saw the move as a signal that early cluster IPOs often outperform later ones. This development also raised expectations for a wave of technology stocks.

Nvidia shares leapt over 6%, Microsoft climbed 2.3%, Dell surged nearly 11%, and Arm Holdings jumped almost 16% as traders linked the PC launch to a boost in demand for chip designs that rival Intel and AMD. The rally reflected confidence that Nvidia’s move could open a new revenue stream beyond GPU sales, potentially reshaping the PC supply chain.

Meanwhile, MGM Resorts stock jumped 16% after Barry Diller’s People Inc. offered to acquire the remaining shares in a deal valued at about $12.4 billion. The offer gave the casino giant a new ownership structure that could unlock value for shareholders. Analysts noted that the transaction could consolidate MGM’s market position and create synergies across its hospitality and gaming operations.

However, AI optimism cooled as new skirmishes erupted between the U.S. and Iran, prompting President Trump to promise that “all shooting will stop” between Israel and Hezbollah. The Dow closed up 46 points at 51,079, while the S&P 500 and Nasdaq gained 0.3% and 0.4%, respectively.