Heard on the Street Recap: Trump’s Housing Salvo

President Trump said he would take steps to ban large investors from buying single-family homes. Invitation Homes and Blackstone each fell 6%, while American Homes 4 Rent declined 4%. Home-builder stocks also fell. It isn’t clear if Trump can carry out the ban without congressional approval. Institutional investors have acquired hundreds of thousands of U.S. homes to rent out, contributing to a dearth of homes for sale and driving up prices in certain neighborhoods.

Anthropic, developer of the chatbot Claude, plans to raise $10 billion at a valuation of $350 billion, nearly doubling its valuation from four months ago. GIC, Singapore’s sovereign-wealth fund, and Coatue Management plan to lead the new financing, The Wall Street Journal reported, citing people familiar with the matter. The funding round, expected to close in the coming weeks, follows a $13 billion investment in September that valued the company at $183 billion.

JPMorgan Chase’s asset-management unit is cutting all ties with proxy advisory firms. The unit, with more than $7 trillion in client assets, votes shares in thousands of companies. This year, it will start using an internal artificial-intelligence-powered platform to assist on U.S. company votes, according to a memo seen by The Wall Street Journal.