Anthropic files for IPO as Wall Street indices close higher on AI deals

A filing that revived the AI trade

Anthropic, the company behind Claude, filed an application for a stock market listing, a move reported on 26 October that could make it the largest IPO in history. Dan Primack of Axios, cited in one account, described the filing as the capstone of a day of AI business deals that come close to 1% of US GDP. The company plans to list on the Nasdaq under the ticker "ANT", and it may aim to raise 100 billion dollars, a sum described as a record. Anthropic also reported revenue of 16.29 billion dollars for the six months ended June, up 1,304% from 1.16 billion dollars in the same period a year earlier.

Six months to June16.29

Same period a year earlier1.16

Six months to June

16.29 USD bn

Same period a year earlier

1.16 USD bn

Data from the article text

Investors had been waiting on this listing for some time, and the filing renewed interest in companies tied to artificial intelligence. Chipmakers and other AI-linked firms moved higher once the news spread, after a technology sector that had lost momentum needed a fresh push.

Markets close higher on Monday

The Dow Jones Industrial Average gained 146.42 points, or 0.28%, to close at 52,361.58 on Monday, 26 October. The S&P 500 rose 0.70% to 7,676.77, and the Nasdaq, where technology stocks dominate, climbed 0.82% to 26,169.38. Reports differ slightly on the Nasdaq move, with one giving a gain of 214.03 points, or 0.83%. Chipmakers led the advance, with the iShares Semiconductor ETF up almost 3%, Micron up 3%, AMD up 2.8%, Nvidia up 2.4% and Broadcom up 2.3%. Jay Woods, head of market strategy at Freedom Capital Markets, said the market needed the news, just as it had needed SpaceX's financing deal, and he expected solid demand because investors have discussed the listing for a long time.

The funding race behind the rally

Meta said it plans to raise 95 billion dollars to finance its AI infrastructure. SpaceX, according to Elon Musk, its chief executive, completed 40 billion dollars of debt financing over the weekend of 24 and 25 October, although one report describes the money as financing for leasing GPUs and another as financing for buying AI chips. Anthropic alone has committed around 750 billion dollars to computing power over the coming years, almost seven times the amount its IPO is expected to raise. OpenAI's 120 billion dollar funding round took months to complete, which shows how long large raises can take.

Anthropic IPO (possible target)100

Meta planned raise95

SpaceX debt financing40

OpenAI funding round120

Anthropic IPO (possible target)

100 USD bn

Meta planned raise

95 USD bn

SpaceX debt financing

40 USD bn

OpenAI funding round

120 USD bn

Data from the article text

One account says Wall Street is now funding this infrastructure in real time, and the appetite of AI developers for capital has outrun what any single part of the financial system can supply.

Doubts and what comes next

Concern remains over whether heavy AI spending will translate into matching profits, and the sector's high valuations are still under scrutiny. Earnings from Microsoft, Alphabet and Amazon are expected to offer a clearer view of the returns on those investments. The Federal Reserve announces its interest rate decision on Wednesday, 28 October, and investors are focused on what the bank signals about the path of borrowing costs. Oil prices pulled back from earlier highs, although worries about geopolitical developments and their effect on global energy supply have not disappeared. According to one account, a successful Anthropic listing would ease concerns about how long the AI boom can last. The Fed decision and the technology results are expected to set Wall Street's direction in the days ahead.