Anthropic Targets Next-Week IPO at Up to $1 Trillion as AI Trade Faces Key Test
Updated
Updated · CNBC · Nov 9
Anthropic Targets Next-Week IPO at Up to $1 Trillion as AI Trade Faces Key Test
3 articles · Updated · CNBC · Nov 9
Summary
Anthropic is pressing ahead with its IPO, planning investor meetings this week and a market debut as early as Thursday or Friday next week, despite a recent sell-off in AI stocks.
A valuation once discussed as high as $2 trillion has reportedly dropped to as low as $1 trillion after last week's tech rout and concerns a Democratic midterm wave could slow new data-center construction.
Jim Cramer called the offering a crucial test for the AI trade because Anthropic is one of the few developers expected to turn heavy spending on chips and data centers into revenue.
Anthropic's prospectus shows its computing commitment has risen from $1.25 billion a month to more than $3 billion, while Alphabet pays about $900 million monthly, linking the IPO's outcome to suppliers and investors including Nvidia, Amazon and Alphabet.