5 Things to Watch on
June 2, 2026

Stocks are down slightly in premarket trading, while Bitcoin (BTC) slipped below $70,000 for the first time in nearly two months. Wall Street closed at a record yesterday after Trump downplayed the risk of an Iran deal collapse. Oil briefly surged after Tehran threatened to close the Strait of Hormuz, then retreated after Trump said the Israel-Hezbollah conflict would stop.

Anthropic confidentially submitted its S-1 to the SEC, bringing one of the year's most anticipated tech IPOs a step closer, though no pricing or share count has been set. The Amazon (AMZN)-backed AI startup closed a $65B funding round last week at a $965B valuation, overtaking the Microsoft (MSFT)-backed OpenAI as the world's most valuable AI startup. Revenue has exploded to a $47B run rate as of last month versus $10B in 2025, with monthly active users up +583% YoY in May.

Hewlett Packard Enterprise (HPE) is up more than +25% in premarket trading after fiscal Q2 results and a raised outlook exceeded expectations, with analysts pointing to a surge in strategic server demand as enterprise customers pull forward purchases to lock in supply. DRAM and NAND scarcity is giving HPE pricing power despite elevated memory costs, while Juniper cost synergies are expected to further expand Networking margins into FY2027. Dell Technologies (DELL) gained +2% on the same server demand tailwind.

Broadcom (AVGO) is up more than +6% in premarket trading after unveiling an Edge AI broadband portfolio targeting smart homes and enterprises. The lineup includes a 50G Passive Optical Network gateway chip, a Wi-Fi 8 product family, and a 5G/Wi-Fi 8 fixed wireless platform, all equipped with neural processing units that enable AI workloads to run locally at the device level. AVGO framed the launch as extending its AI reach beyond data centers, with the chips designed to serve as intelligent agentic orchestrators at the network edge.

Quantinuum upsized its upcoming IPO to raise $1.46B (up from $1.05B), selling 26.5M shares at $53-$55 per share, implying a roughly $14.3B valuation and a +43% step-up from its last private mark. The Honeywell (HON)-majority-owned quantum computing firm is entering public markets as listed peers including IonQ (IONQ) have gained between +70% and +100% over the same period. Analysts say a successful debut would validate the quantum category broadly, with early trading expected to set the tone across the sector.