Anthropic plans to list on Nasdaq around November 19, targeting $70–$78 per share. Its IPO could raise US$64.4B, alongside US$26B in private investments from Google, Nvidia and other technology giants.
Revenue surged to US$33.2B in the first nine months of 2026, but the company faces US$900.9B in future infrastructure commitments and a Q3 operating loss of US$567M.
Bulls highlight Claude's enterprise adoption and explosive growth. Bears question the US$1.4T fully diluted valuation, enormous computing costs and circular investment relationships.
My take: I choose B (0–10% gain), assuming a US$78 IPO price, with a predicted closing price of US$84. Strong demand could fuel the debut, but I would avoid chasing an opening surge. Profitability and cash flow matter more than IPO hype.
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