AI Startup Anthropic Reaches $965 Billion Valuation

Posted on May 29, 2026 by Ignacio Teson

The race to dominate artificial intelligence reached a new milestone this week as Anthropic, the startup behind the Claude AI model, closed a massive $65 billion funding round that pushed its valuation to $965 billion — surpassing OpenAI for the first time.

The deal, announced Thursday, was led by major investors including Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital. Firms such as D. E. Shaw & Co., Blackstone Inc., and DST Global also participated, underscoring continued investor enthusiasm for generative AI companies.

Anthropic’s explosive rise

The fundraising process moved quickly. According to reports from Bloomberg News, Anthropic had already begun exploring a new capital raise in late April after receiving proposals valuing the company above $900 billion. Negotiations accelerated rapidly throughout May.

Founded in 2021 by former OpenAI researchers, Anthropic has emerged as one of the leading players in the AI ecosystem. Its Claude platform has gained traction particularly among enterprise clients, with products focused on coding, automation, analytics, and cybersecurity.

The company’s financial growth has also accelerated sharply. Bloomberg reported that Anthropic expects to generate approximately $10.9 billion in revenue during the second quarter of the year, more than double the previous quarter’s figure. The startup is also reportedly on track to post its first profitable quarter.

Anthropic has additionally told investors that its annualized revenue run rate could exceed $50 billion by the end of next month — a dramatic increase compared with roughly $4 billion in July last year.

Competition with OpenAI intensifies

The latest funding round significantly raises the stakes in the rivalry with OpenAI, which was valued at $852 billion during a separate fundraising round earlier this year.

According to reports, the company behind ChatGPT is also preparing preliminary documentation for a potential IPO in the coming weeks.

Anthropic’s soaring valuation reflects the extraordinary momentum behind the AI sector, as venture capital firms, institutional investors, and major technology companies continue pouring record amounts of capital into businesses developing advanced AI models.

OpenAI’s own funding surge

OpenAI completed its latest funding round in April, raising approximately $122 billion and reaching a valuation of $852 billion in a deal backed by major technology investors including Amazon, NVIDIA, and SoftBank Group.

The funding injection marked another major leap for the creator of ChatGPT and reinforced the ongoing investment frenzy surrounding generative AI.

OpenAI’s growth has accelerated dramatically in recent months. In March 2025, the company raised $40 billion at a valuation of around $300 billion. The latest round nearly tripled that figure in just over a year.

Among the largest contributors, Amazon reportedly committed $50 billion, while NVIDIA and SoftBank each pledged approximately $30 billion. Microsoft, OpenAI’s long-standing strategic partner, also maintained its participation in the round.

U.S. Stocks Set New Records as Iran Peace Prospects Improve

Posted on May 29, 2026 by Ignacio Teson

Major U.S. stock indexes climbed to new record highs on Thursday as investors remained optimistic about a potential easing of geopolitical tensions in the Middle East. At the same time, oil prices continued to retreat, with crude trading below the $100 mark.

Bullish stocks push the Nasdaq and S&P 500 to record highs.

Wall Street closed higher in a volatile session driven by renewed hopes for a diplomatic breakthrough between the United States and Iran, as well as fresh inflation data closely watched by the Federal Reserve.

The Dow Jones Industrial Average edged up 0.05% to 50,669.77 points, while the S&P 500 gained 0.57% to close at 7,563.33 and the Nasdaq Composite advanced 0.91% to 26,917.47, with all three indexes reaching new all-time highs.

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Peace agreement awaits Trump’s approval

According to Axios, Washington and Tehran reached a draft memorandum of understanding outlining a 60-day framework agreement that would extend the ceasefire and launch negotiations over Iran’s nuclear program.

Donald Trump was reportedly briefed on the details of the proposed agreement and requested additional time to review the terms before giving final approval.

The memorandum would reportedly include the reopening of commercial navigation through the Strait of Hormuz, the lifting of the U.S. naval blockade on Iranian ports and coastlines, and a commitment from Iran not to pursue nuclear weapons development.

A finalized agreement would mark the most significant diplomatic breakthrough since the conflict escalated in late February, when the United States and Israel launched joint military operations against Iran. Although a fragile ceasefire has remained in place since early April, tensions persisted throughout Thursday following new exchanges of fire in the Gulf region.

Markets also reacted to comments from Trump dismissing reports that Iran and Oman would jointly manage shipping traffic through the Strait of Hormuz under a peace arrangement. “Oman will behave like everybody else or we will have to destroy it,” Trump said, while also reiterating that Iran remains interested in reaching a deal, though current terms are still unsatisfactory.

Oil prices retreat below $100

Against that backdrop, oil prices fluctuated between gains and losses but remained below recent peaks. West Texas Intermediate crude traded near $89 per barrel, while Brent crude hovered around $94 per barrel, well below the levels above $100 reached during the height of the conflict.

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The decline in energy prices helped improve investor sentiment by easing concerns about inflationary pressures and the risk of tighter monetary policy.

Inflation remains elevated despite softer monthly data

Thursday’s session also focused heavily on new U.S. inflation figures released by the Bureau of Economic Analysis.

The core Personal Consumption Expenditures (PCE) index—the Federal Reserve’s preferred inflation gauge, excluding food and energy—rose 3.3% year-over-year in April, its highest level since November 2023 and still significantly above the Fed’s 2% target.

Headline PCE inflation accelerated to 3.8% year-over-year, the highest reading since May 2023. Both figures matched market expectations.

On a monthly basis, however, core PCE rose 0.2%, slowing from 0.3% in March and coming in slightly below forecasts, offering some relief to investors concerned about persistent inflation.

The inflation data arrives as higher oil prices linked to the conflict with Iran continue to filter through the U.S. economy. According to the U.S. Energy Information Administration, gasoline prices have surged more than 50% since the conflict began in late February.

Corporate earnings remain in focus

Among individual stocks, HP fell 1.6% despite issuing profit guidance above expectations for the current quarter.

Salesforce declined 0.7% after releasing weaker-than-expected revenue guidance.

Meanwhile, Marvell Technology rose 3.1% following quarterly results that broadly met analyst expectations.

U.S. Inflation Rises to 2023 High as GDP and Spending Lose Momentum

Posted on May 28, 2026 by Ignacio Teson

Inflation is becoming an increasingly pressing issue in the United States, driven not only by the impact of the Middle East conflict and tariffs introduced under Donald Trump, but also by supply-side pressures such as drought conditions and a decline in cattle inventories, which could further push food prices higher.

GDP growth is expected to stall or lose momentum.

The trend is weighing on both consumers and policymakers, as households face rising costs for fuel, food, and services, while the political backdrop intensifies ahead of midterm elections marked by weak approval ratings for the administration. At the same time, the Federal Reserve is signaling that further rate cuts are increasingly unlikely this year.

On Thursday, the Commerce Department reported that the Personal Consumption Expenditures (PCE) price index—the Fed’s preferred inflation gauge—rose 3.8% year-on-year in April, the highest level since May 2023. The core measure increased 3.3%. On a monthly basis, prices rose 0.4%, slowing from March’s 0.7% gain. However, inflation-adjusted consumer spending increased just 0.1%, highlighting a loss of momentum in demand.

Inflation sticks above Fed comfort zone

While headline and core inflation remain firmly in the 3% range—well above the Federal Reserve’s comfort zone—economists warn that the duration of elevated oil prices could become a critical factor, especially as the Middle East conflict continues to disrupt global energy flows.

Some analysts argue that the window for rate cuts has effectively closed due to the energy shock stemming from the war with Iran, shifting expectations toward a more restrictive policy outlook as officials warn that inflationary pressures are re-emerging. Market pricing, however, still reflects some uncertainty, with the probability of a rate hike this year edging up from 62% to 64%.

Recent data also showed that both inflation and core readings came in slightly better than expected, but this was overshadowed by renewed tensions in U.S.–Iran negotiations, which pushed oil prices higher and clouded the interpretation of the report.

Growth slows as consumers lose momentum

Separately, first-quarter U.S. GDP growth came in at 1.6%, below the 2% expected by markets, with downward revisions in both investment and consumer spending. The figures point to an economy that remains resilient but increasingly strained by prolonged geopolitical conflict and inflationary pressure.

Energy shock and trade policy add to price pressures

The Middle East conflict has disrupted global trade flows following the partial closure of the Strait of Hormuz, pushing up fuel costs and contributing to shortages across a range of goods, including fertilizers, aluminum, and consumer products. Average retail gasoline prices jumped 12.3% in April, according to the U.S. Energy Information Administration, and have risen more than 50% since the start of the war in late February.

Additional price pressures are also coming from non-energy goods and services, partly due to broad-based tariffs implemented under the Trump administration since its return to the White House.

At the same time, Washington is currently renegotiating trade arrangements under the USMCA with Mexico and Canada, with officials signaling that new tariff measures could be introduced as part of the process.

Consumer confidence hits historic lows

Consumer sentiment has also deteriorated sharply. The University of Michigan Consumer Sentiment Index fell to 44.8 in May, its lowest level on record, underscoring growing concerns among U.S. households about inflation and economic stability.

Europe Tightens Tariffs and Import Quotas on China

Posted on May 28, 2026 by Ignacio Teson

The European Union plans to broaden the use of import quotas and tariffs on Chinese goods in an effort to shield key industries from what Brussels increasingly views as an “existential” threat posed by Chinese competition.

Stéphane Séjourné, the EU’s top industry official, said the bloc would make wider use of safeguard measures across strategic sectors, according to comments published Thursday by the Financial Times.

“We will use safeguard clauses more broadly across sectors, and not only for specific companies or raw materials,” Séjourné said, warning that industries such as chemicals, metals, and clean technologies risk being severely damaged by what the EU considers unfair Chinese competition.

The remarks reflect growing concern in Brussels over the impact of low-cost Chinese exports on Europe’s industrial base, particularly as the bloc seeks to accelerate its green transition while maintaining domestic manufacturing capacity.

China Accuses Europe of Protectionism

China responded sharply to the EU’s latest stance, criticizing Brussels’ push to “rebalance” trade relations and describing the measures as protectionist and politically biased.

Chinese Foreign Ministry spokesperson Mao Ning said international trade is based on mutual choice rather than coercion, arguing that China does not deliberately pursue a trade surplus with Europe.

“The essence of international economic and trade relations is mutual benefit and shared gains,” Mao said during a regular press briefing.

She accused the EU of focusing narrowly on goods trade deficits and Chinese imports while ignoring services, investment returns, and European export restrictions, which she argued distort the broader picture of economic relations between both sides.

According to Mao, efforts to reduce dependence on China or rebalance trade ties amount to protectionism that could ultimately hurt European consumers, raise business costs, and weaken the EU’s industrial competitiveness over the long term.

She also warned that Beijing is closely monitoring the bloc’s actions and “will take necessary measures” to defend its legitimate interests.

Europe Pushes for “Trade Rebalancing”

The latest comments come ahead of an internal European Commission debate over the future direction of EU-China economic relations.

Last week, Séjourné reiterated that the European Union needs to achieve a “trade rebalancing” with China, noting that the bloc currently runs a trade deficit with Beijing exceeding €360 billion.

The tougher tone underscores how Europe’s approach toward China is increasingly shifting from economic cooperation toward strategic competition, particularly in sectors considered critical for industrial security and technological leadership.

Bitcoin Falls to Lowest Level in More Than a Month

Posted on May 28, 2026 by Ignacio Teson

Renewed tensions in the Middle East and growing fears of persistent inflation are once again weighing heavily on the cryptocurrency market, triggering a broad selloff across digital assets.

Rapid price fluctuations plague Bitcoin investors this week.

Bitcoin (BTC) fell 2.6% on Thursday, putting the $73,000 level at risk and reaching its lowest point since early April. Ethereum (ETH) dropped as much as 3.2%, slipping below the key $2,000 support level.

Losses were widespread across the altcoin market. XRP, Solana (SOL), Dogecoin (DOGE), Cardano (ADA), and Monero (XMR) posted declines similar to Bitcoin’s, while Tron recorded the sharpest drop of the session, plunging 6.4%. Figure Heloc stood out as one of the few gainers, rising 0.9%.

From a technical perspective, Bitcoin continues to trade below its 50-week exponential moving average, currently near $84,000, signaling that the market remains in a defensive medium-term trend. Following the break of its previous trendline, the area around $70,671 has emerged as the main short-term support zone.

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ETF Outflows Continue to Pressure the Market

The latest decline comes amid continued institutional outflows from crypto investment products. The eleven U.S. spot Bitcoin ETFs recorded net withdrawals totaling approximately $733 million on Wednesday alone.

Among them, BlackRock’s IBIT fund led the outflows, with net redemptions of roughly $527 million. According to SoSoValue data, it marked the fund’s second-largest daily outflow since launching in January 2024.

Over the last two weeks, cumulative withdrawals across spot Bitcoin ETFs have surpassed $2 billion, highlighting a more cautious institutional stance toward the sector.

Middle East Tensions and the Fed Weigh on Sentiment

The latest selloff appears to have been triggered primarily by escalating tensions in the Middle East. Iran’s Revolutionary Guard said on Thursday that it had targeted a U.S. air base shortly after American forces launched strikes against an Iranian military facility considered a threat to U.S. troops and commercial shipping through the Strait of Hormuz.

At the same time, Federal Reserve officials Neel Kashkari and Lisa Cook warned about persistent inflation risks and the implications for monetary policy.

Market expectations have also shifted notably. According to CME’s FedWatch tool, investors increasingly believe the Federal Reserve will keep interest rates unchanged through the rest of the year, while speculation about possible additional hikes has started to rise.

Fresh U.S. economic data added to those concerns. First-quarter GDP growth came in at 1.6%, below expectations, while the core PCE inflation index—the Fed’s preferred inflation gauge—accelerated to 3.8% from 3.5%, reaching its highest level since May 2023.

What’s Behind Mercosur’s Push Toward Global Markets?

Posted on May 28, 2026 by Ignacio Teson

The combination of Javier Milei’s economic opening in Argentina, Brazil’s evolving trade strategy, and a more fragmented geopolitical landscape has helped drive a shift in Mercosur’s external agenda, marking a notable acceleration in its integration with global markets.

Recent progress in trade negotiations—including the long-awaited Free Trade Agreement (FTA) with the European Union—highlights a qualitative change within the South American bloc, which for decades moved slowly on external trade liberalization. Today, the picture looks markedly different: Mercosur could sign up to three FTAs in a single year, an unprecedented pace in its history.

Alongside the EU agreement, the bloc has already signed a trade deal with the European Free Trade Association (EFTA)—comprising Switzerland, Norway, Liechtenstein, and Iceland—in September 2025. That agreement is now undergoing ratification. In parallel, there is growing momentum toward a potential FTA with Canada, which could be finalized in 2026, according to officials from Canada, Argentina, and Brazil cited by Reuters.

Mercosur is also advancing negotiations with a broader set of partners, including Singapore, Japan, Indonesia, South Korea, the United Arab Emirates, Vietnam, and El Salvador, signaling a much more diversified external trade strategy.

This represents an unprecedented negotiating pace for the bloc. By comparison, Mercosur’s last completed FTAs were with Egypt in 2010 and Israel in 2007.

What changed?

The shift in Mercosur’s external strategy did not begin recently, but rather reflects a decade-long evolution. Around 2016, member states agreed to what was described as an “updating” of the bloc’s external agenda, as global trade negotiations were reshaping major frameworks such as the CPTPP and the RCEP.

In that context, Mercosur began reviewing existing agreements and exploring new trade partnerships. However, progress was initially slow due to structural constraints: the bloc has traditionally maintained strong protection of sensitive domestic sectors while simultaneously pushing offensive interests in agriculture—often the most sensitive area for its negotiating partners—making agreements difficult to conclude.

The situation began to shift after the pandemic and amid changes in U.S. trade policy. Key partners such as the European Union and Canada became more flexible in their negotiating positions, placing greater emphasis on concluding long-delayed deals, including with Mercosur.

The potential of new agreements

Looking ahead, analysts highlight the Canada FTA as one of the most significant potential agreements, given the high degree of economic complementarity between both regions. It could also open the door to joint investment projects, particularly in mining and natural resources.

Expansion into Asia is also seen as a strategic priority. A future agreement with Japan, for example, would be particularly relevant, although historically it has faced resistance—especially from Argentina—due to concerns over the automotive industry and domestic protectionism.

Mexican Peso Falls for Second Day on War and Inflation Concerns

Posted on May 28, 2026 by Ignacio Teson

The Mexican peso weakened against the U.S. dollar on Wednesday, marking its second consecutive daily loss as markets remained focused on the conflict between the United States and Iran and growing concerns over the impact of the war on global inflation.

The exchange rate closed at 17.3545 pesos per dollar, compared with 17.2949 in the previous session, according to official data from Banco de México (Banxico). The move represented a loss of 5.96 centavos, or 0.35%, for the Mexican currency.

During the session, the dollar traded between a high of 17.3952 pesos and a low of 17.2852. Meanwhile, the U.S. Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, rose 0.03% to 99.21 points.

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Donald Trump Tempers Expectations for Iran Deal

Trump said on Wednesday that Iran remains interested in ending the conflict, which has disrupted global energy supply chains through the closure of the Strait of Hormuz, but added that current conditions for an agreement were still not satisfactory.

Earlier in the session, market sentiment had improved after Iranian state television reported progress toward a possible framework agreement between Washington and Tehran aimed at restoring commercial shipping through the strategic waterway. However, Trump’s comments later tempered investor optimism and shaped the tone of trading.

Although markets have shown signs of stabilization in recent weeks, global volatility remains elevated, and any further geopolitical deterioration could strengthen demand for traditional safe-haven assets such as the U.S. dollar.

Inflation Concerns Remain in Focus

Inflation fears also continued to pressure currencies, as investors worried that the conflict could generate additional price pressures worldwide.

Federal Reserve officials reinforced those concerns on Wednesday. Neel Kashkari said the Fed would need to remain focused on containing inflation risks, while Lorie Logan warned that the global economy may eventually need to reduce its dependence on oil and natural gas consumption.

Analysts noted that the peso maintained a bearish bias despite a broader improvement in global risk appetite, largely because investors continue to expect persistent inflationary pressures over the medium term.

U.S. Stocks Set New Highs Despite Escalation With Iran

Posted on May 28, 2026 by Ignacio Teson

Wall Street posted modest gains on Wednesday, with all three major U.S. indexes reaching fresh record highs as strength in consumer stocks offset weakness in energy and financial shares. Investors also remained focused on ongoing uncertainty surrounding negotiations aimed at ending the conflict with Iran.

Large Caps Lead as Nasdaq Breaks Higher and Dow Stays Technically Supported

The Dow Jones Industrial Average rose 0.36% to 50,644.41 points, while the S&P 500 edged up 0.02% to 7,520.45 and the Nasdaq Composite gained 0.07% to close at 26,674.74.

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White House Rejects Iranian Media Reports

In the Middle East, several outlets, including Reuters and Fox News, reported that Iran had received a preliminary unofficial draft framework for a memorandum of understanding aimed at ending hostilities with the United States, citing Iranian state television.

According to those reports, Iran would restore commercial shipping through the Strait of Hormuz to pre-conflict levels within a month, while the United States would lift its naval blockade on Iranian ports and withdraw military forces from areas surrounding the country.

However, the White House denied the reports. Its official Rapid Response 47 account stated that the alleged memorandum was “completely fabricated” and urged observers not to trust Iranian state media reports.

Donald Trump said over the weekend that a memorandum of understanding had been “largely negotiated” following discussions with regional leaders, fueling expectations that a deal could eventually be reached.

Meanwhile, Brent crude futures fell 3.8% to $92.96 per barrel, retreating from recent highs above $100, though prices remain significantly above pre-war levels.

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Markets Pause After Powerful Rally

After an extended rally that has seen the S&P 500 rise nearly 18% and the technology sector surge 38% since the March 30 lows, analysts say it is natural for markets to slow down and consolidate gains.

One of the key developments beneath the surface has been sector rotation. Falling oil prices have helped previously lagging areas of the market—particularly consumer discretionary and consumer staples stocks—recover momentum.

More broadly, analysts argue that the overall market trend remains bullish, although investors should expect increased volatility after such a strong advance. With earnings season largely completed, attention is now shifting toward what the next major catalyst for markets will be.

U.S. Seeks Tariffs on Canada and Mexico as Part of USMCA Talks

Posted on May 27, 2026 by Ignacio Teson

The Trump administration signaled that it intends to maintain tariffs on key trading partners and seek stricter trade rules as part of the ongoing review of the United States-Mexico-Canada Agreement (USMCA).

U.S. Trade Representative Jamieson Greer said the administration plans to continue using tariffs in its trade strategy with both Mexico and Canada, arguing that large trade imbalances justify the measures. The comments come as Washington and the government of Claudia Sheinbaum engage in bilateral talks ahead of the agreement’s formal review process.

“We are going to apply tariffs as long as we have a massive trade deficit,” Greer said at a policy forum. “The reality is that we have spent the last year and a half visiting countries and telling them that some level of tariffs will be necessary.”

The U.S. position became increasingly clear in May, when Deputy U.S. Trade Representative Jeffrey Goettman stated at the Council of the Americas Annual Conference that the administration intends to “improve” the USMCA through stricter rules of origin and enhanced supply-chain transparency requirements.

Two days later, Greer emphasized that negotiations would focus on strengthening regional content rules and introducing new economic security provisions designed to encourage the relocation of manufacturing activity to the United States.

Focus on Rules of Origin and Economic Security

Mexico and the United States launched the first official round of bilateral discussions on the USMCA review this week, led by Mexican Economy Secretary Marcelo Ebrard and Greer.

The talks are centered on four key areas: tighter rules of origin, economic security measures, cooperation on critical minerals, and the resolution of longstanding bilateral trade disputes.

Washington’s objectives include increasing North American content requirements in strategic industries—particularly the automotive sector—tightening origin standards for steel and aluminum, and reducing the U.S. trade deficit with Mexico, which currently stands at roughly $200 billion.

Canada Remains Outside the Current Talks

Despite the progress in bilateral discussions, Canada is not participating in the current negotiating round, limiting the ability of the parties to reach formal agreements. Because the USMCA is a trilateral treaty, any substantive modifications ultimately require the involvement of all three member countries.

The formal joint review of the agreement is scheduled to begin on July 1, 2026. If no consensus is reached, the treaty will enter a cycle of annual reviews through 2036, creating the possibility of prolonged uncertainty for businesses operating across North America.

Mexican Peso Weakens Slightly Against Dollar After U.S. Strikes in Iran

Posted on May 26, 2026 by Ignacio Teson

The Mexican peso posted a slight decline against the U.S. dollar in the second trading session of the week, as markets turned cautious following reports of U.S. strikes on Iran that could complicate ongoing peace negotiations.

The peso closed at 17.2949 per dollar, compared with 17.2810 in the previous session, according to Banco de México (Banxico), representing a loss of 1.39 centavos, or 0.08%.

During the session, the exchange rate traded between a high of 17.3434 and a low of 17.2760. Meanwhile, the U.S. Dollar Index (DXY), which measures the greenback against a basket of six major currencies, slipped 0.10% to 99.14 points.

The United States reportedly carried out strikes on Monday targeting vessels allegedly attempting to deploy mines and missile launch sites in Iran, in operations described as defensive. Iran, in turn, accused Washington of violating the ceasefire.

[[USD/MXN-graph]]

According to The Wall Street Journal, the U.S. Navy has resumed escorted shipping operations in the Strait of Hormuz, reversing earlier indications that the “Project Freedom” initiative had been suspended.

In the near term, analysts expect the peso to remain in a consolidation range between 17.20 and 17.45, though rising geopolitical uncertainty could gradually increase the currency’s risk premium in the coming sessions.

Mexican Stocks Rebound After Three-Day Losing Streak

Mexico’s equity markets closed Tuesday’s session with solid gains, rebounding after three consecutive days of losses, even as global sentiment remained cautious due to escalating tensions in the Middle East.

The benchmark S&P/BMV IPC index rose 1.37% to 69,197.57 points, while the FTSE BIVA index advanced 1.49% to 1,389.14 points.

The recovery came after a weak stretch for local equities and was also supported by reduced global trading volumes, following the U.S. holiday that limited activity across international markets.