An AI chipmaker's IPO exploded 68% on its first trading day, underscoring intense investor demand for artificial intelligence hardware. Many institutional buyers received fewer shares than requested, forcing them to purchase stock in the open market at higher prices. This strong debut occurred as the S&P 500 and Nasdaq rebounded from Iran war anxieties to hit fresh records, fueled by enthusiasm for AI and chip stocks.

Honda reported its first annual loss as a listed company, a deficit of $2.7 billion, highlighting struggles in the traditional auto sector. Meanwhile, the Senate Banking Committee advanced cryptocurrency legislation regulating tokens across the SEC and CFTC after a fierce debate over exchange rewards programs. Banks opposed provisions they argue create loopholes threatening core deposits.

Researchers revealed techniques to exploit vulnerabilities in Apple's macOS using methods discovered while testing Anthropic's Mythos AI software. Apple is reviewing the security report. Separately, Elon Musk's lawsuit against OpenAI, alleging a broken nonprofit-to-for-profit promise, went to trial, with the outcome tied to the credibility of Silicon Valley's leading figures.