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Artificial intelligence chip maker Cerebras Systems is expected to price its U.S. IPO at $185 per share, according to people familiar with the matter.

Sources: Microsoft is exploring deals with artificial intelligence startups to prepare for the "post-OpenAI era." Microsoft considered acquiring Cursor but backed off due to antitrust concerns. Microsoft has discussed a deal with artificial intelligence startup Inception. Inception has hired a bank to negotiate a deal of at least $1 billion.

Cisco (CSCO.O) U.S. stocks rose more than 7% after the bell.

The Dow Jones Index closed down 67.36 points, or 0.14%, at 49693.20 points on May 13 (Wednesday);The S&P 500 Index closed up 43.2 points on May 13 (Wednesday) 9 points, an increase of 0.58%, to 7444.25 points;The Nasdaq Composite Index closed up 314.14 points, or 1.20%, to 26402.34 points on May 13 (Wednesday).

According to the Wall Street Journal: The U.S. Department of Defense is accelerating the purchase of 10,000 low-cost cruise missiles within three years.

CFTC Chairman: Congratulations to Josh Warsh on his confirmation as our next Federal Reserve Chairman. We look forward to working together to ensure that the United States continues to maintain its global leadership in finance.