{"id":66856,"date":"2026-08-21T16:38:14","date_gmt":"2026-08-21T20:38:14","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-rebounds-as-anthropic-taps-google-chip-veteran-for-hardware-push\/66856\/"},"modified":"2026-08-21T16:38:14","modified_gmt":"2026-08-21T20:38:14","slug":"wall-street-rebounds-as-anthropic-taps-google-chip-veteran-for-hardware-push","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-rebounds-as-anthropic-taps-google-chip-veteran-for-hardware-push\/66856\/","title":{"rendered":"Wall Street Rebounds as Anthropic Taps Google Chip Veteran for Hardware Push"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Major U.S. stock indexes closed higher on Friday<\/strong>, with the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (<a href=\"\/stock\/DJI\">DJI<\/a>)<\/strong> jumping over <strong>550 points (1.06%)<\/strong> to recover from a volatile week.<\/li>\n<li><strong>Anthropic<\/strong> hired <strong>Amir Salek<\/strong>, a former <strong>Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong> executive and pioneer of the <strong>Tensor Processing Unit (TPU)<\/strong> program, to lead its new internal hardware and chip development efforts.<\/li>\n<li>The <strong>Federal Reserve<\/strong> released its weekly <strong>H.8 report<\/strong>, showing the latest trends in assets and liabilities for commercial banks as the market monitors lending stability.<\/li>\n<li><strong>Ross Stores (<a href=\"\/stock\/ROST\">ROST<\/a>)<\/strong> surged <strong>4.4%<\/strong> following a strong earnings report, helping lift consumer discretionary sectors and broader market sentiment.<\/li>\n<\/ul>\n<h2>Market Rebound Driven by Earnings and Economic Data<\/h2>\n<p>U.S. equities finished the week on a high note, with the <strong>Dow Jones Industrial Average (<a href=\"\/stock\/DJI\">DJI<\/a>)<\/strong> unofficially closing up <strong>559.68 points<\/strong> at <strong>53,318.89<\/strong>. The <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> (<a href=\"\/stock\/SPX\">SPX<\/a>)<\/strong> gained <strong>0.50%<\/strong> to end at <strong>7,679.61<\/strong>, while the <strong>Nasdaq Composite (<a href=\"\/stock\/IXIC\">IXIC<\/a>)<\/strong> rose <strong>0.49%<\/strong> to <strong>26,194.67<\/strong>.<\/p>\n<p>Investors appeared to brush off recent bond market volatility as a preliminary report from <strong>S&amp;P Global<\/strong> indicated that U.S. business activity reached a <strong>52-month high<\/strong>. This growth signal, combined with better-than-expected corporate earnings, provided a necessary cushion against rising <strong>10-year Treasury yields<\/strong>, which hovered near <strong>4.74%<\/strong>.<\/p>\n<h2>Anthropic Targets Custom Silicon with Key Executive Hire<\/h2>\n<p>In a major move for the artificial intelligence sector, <strong>Anthropic<\/strong> announced the hiring of <strong>Amir Salek<\/strong> to its compute team. Salek, a veteran of both <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong> and <strong>Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong>, was a founding architect of Google\u2019s custom chip program and the <strong>TPU<\/strong> architecture.<\/p>\n<p>The hire signals Anthropic\u2019s intention to transition from a software-only model to developing its own <strong>AI semiconductors<\/strong>. By pursuing internal hardware, Anthropic aims to reduce its reliance on third-party providers and optimize its infrastructure for its <strong>Claude<\/strong> AI models.<\/p>\n<h2>Federal Reserve H.8 Data Highlights Banking Trends<\/h2>\n<p>The <strong>Federal Reserve<\/strong> published its weekly <strong>H.8 release<\/strong>, providing a critical snapshot of the <strong>Assets and Liabilities of Commercial Banks in the United States<\/strong>. The data is being closely watched by economists for signs of tightening credit conditions or shifts in deposit levels among large and small domestic banks.<\/p>\n<p>Recent trends in the H.8 data have shown a gradual increase in <strong>commercial and industrial loans<\/strong>, though real estate lending has remained more tempered. Analysts use this weekly update to gauge the health of the banking sector and the effectiveness of the Fed\u2019s ongoing monetary policy stance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Major U.S. stock indexes closed higher on Friday, with the Dow Jones Industrial Average (DJI) jumping over 550 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