The company driving stock market bets this morning isn't even public yet. Anthropic, the AI golden child behind Claude, filed initial public offering paperwork today and its calming investor fears that the debt-fueled artificial intelligence boom is a bubble waiting to pop.
Shares of chip companies Broadcom, AMD and Nvidia are all up more than 2%. Dell and Hewlett Packard Enterprise, firms involved in the data center buildout, are up more than 3%. Even CoreWeave, the beleaguered neocloud company that sold off this month amid fears about AI underperformers, is up more than 4%.
"The question that investors have been asking over the past few months is: Is any of this real?" said Malik Ahmed Khan, equity analyst at Morningstar. "Some of the initial stuff that I have read and I have analyzed going through the (offering document) is, I would say, incrementally positive."
Anthropic is aiming to go public the week of Nov. 16, the Wall Street Journal has reported, and could raise as much as $100 billion or more in an IPO that could value it at between $1.5 trillion and $2 trillion-a figure that would break the record set by SpaceX's June offering.
Comments