Erika Herskowitz

The founders each own less than 1% of the company, but their individual stakes are worth about $8 billion after Anthropic raised $65 billion at a $965 billion valuation.

Anthropic's founders have pledged to give away 80% of their fortunes, with the company's CEO expressing concern about the concentration of wealth that could come out of the AI industry and its potential effect on society.

That's news when you want it with Bloomberg News Now.

I'm Erica Herskowitz and this is Bloomberg.

News when you want it with Bloomberg News Now, I'm Erika Herskowitz.

Wall Street sent stocks higher today on speculation the U.S.

and Iran are close to a diplomatic breakthrough in the war that's rattled global markets.

The Dow gained a fraction of 25 points.

The Nasdaq added 243, closing nearly 1% higher.

The S&P rose 43 points, up more than a half percent.

The 10-year Treasury yield is at 4.45 percent.

The two-year Treasury yield at 4.02 percent.

And Brent crude is down slightly to $94 a barrel.

The U.S.

and Iran have reached an agreement on a 60-day memorandum of understanding to extend their ceasefire and kick off negotiations on Iran's nuclear program.

Bloomberg's Tyler Kendall with the details later.

Tyler Kendall speaking with Bloomberg TV.

Speaking at a White House press briefing today, Treasury Secretary Scott Besson said nothing's on the table with Iran until the Strait of Hormuz is open.

Treasury Secretary Scott Besson, President Trump has yet to give the deal his final sign off.

But this comes after both sides accused each other of breaking the truce overnight.