ANTHROPIC
Seven tech giants walk into an IPO...
Anthropic, the company behind Claude, is preparing for one of the biggest stock market debuts in history - but not the biggest.
The AI firm plans to sell 825 million shares priced between $70 and $78 each, potentially raising up to $64.35 billion and reaching a valuation of around $1.4 trillion. This will fall short of the SpaceX IPO that took place earlier this year.
Its shares are expected to begin trading on Nasdaq on 19 November under the ticker “ANT”.
Here's what's happening:
Anthropic reportedly plans to reserve around 20% of its IPO shares for individual investors, compared with the usual 5% to 10%.
The company reported $33.24 billion in revenue for the first nine months of 2026, alongside a $104 billion net loss, largely due to accounting adjustments.
Its potential $1.4 trillion valuation is below the $2 trillion figure previously considered, reflecting growing concerns about AI investment costs.
A trillion here, a trillion there
Seven major tech companies, including Nvidia, Google and Microsoft, have also agreed to buy $26 billion worth of Anthropic shares.
However, the IPO comes as investors grow more cautious about rising AI infrastructure costs and whether companies can deliver enough returns to justify their spending.
Dario, I'd happily settle for the loose change from your IPO. Please. I want a Loewe bag. -MG