Anthropic has filed to list on Nasdaq under the ticker “ANT” in an IPO that could raise as much as $100 billion, possibly in November, at a valuation of $1.5 trillion to $2 trillion. The article cites Edward Jones research showing that for companies that went public from 1980 to 2015, IPO stocks averaged an 18% first-day return, and tech stocks averaged 35.2%; however, tech stocks were down an average 3% after three months and 14% after six months. SpaceX (SPCX) listed on June 12, peaked above $225, fell to about $108 in late July, and now trades near $149; it posted $4.4 billion in net income in the third quarter but still has heavy capital expenditures and trades at 67 times trailing sales. A Truist Financial study of 30 major software and tech IPOs found every one experienced a significant drawdown in its first year. Anthropic's filing warns that advanced AI could pose “catastrophic or existential risks to humanity,” and the author suggests investors be cautious with newly listed stocks.
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