Bing Gordon, a Kleiner Perkins partner, Electronic Arts co-founder and former early Amazon board member, compares Anthropic's public listing to Amazon's AWS spending, which required heavy capex with no short-term profit or free cash flow. Anthropic's prospectus shows first-half 2026 revenue of $16.3 billion, up from $1.1 billion a year earlier, alongside an $80.7 billion first-half net loss. Investment bankers are reportedly targeting a listing valuation of around $1.5 trillion to $2 trillion, and Anthropic could debut before the end of November. Gordon recalled Amazon's board approving AWS capex that reached $75 billion in one year, betting on returns three or four years out. He said CEO Dario Amodei must convince investors the spending will be worth it, much like Bezos did with AWS.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
IPOAnthropicAMZNartificial intelligence
Open a keyword to see other news on the same topic.
Related tickers and likely impact
AMZN
▲ Likely positiveAmazon
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.7T |
| Close on 10/23/2026 | 248.04 |
| Change that session | -0.93% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Anthropic kicks off mammoth stock market float despite investor jitters
Anthropic filed its S-1 in the US on Monday, setting out its pitch for a first public stock sale expected to be one of the biggest listings in history, with shares to trade on the Nasdaq Global Select Market under the ticker ANT. The move comes amid investor jitters about AI, after shares of 'neocloud' data-centre companies tumbled in recent weeks and Meta shares slumped after it unveiled plans to spend hundreds of billions on the technology. The 335-page filing shows rapid revenue growth but a loss of $80.7bn (£60.5bn) in the first half of 2026, compared with $13bn a year earlier. Anthropic is reportedly seeking a valuation of $1.5tn to $2tn and could raise as much as $100bn, which at the top end would exceed the $86bn SpaceX raised in June. The company says its technology could cure diseases such as cancer and Alzheimer's, but also warns that AI could destroy jobs and may pose catastrophic or existential risks to humanity.
- AI giant Anthropic files for blockbuster IPO
AI giant Anthropic, maker of Claude, has filed for an IPO and aims to price the offering in mid-November. Its S-1 shows first-half 2026 revenue of $16.3 billion and a net loss of $80.7 billion, while the share count and price range have not been disclosed. The FT reports investors expect a valuation of $1.5–1.75 trillion, and Fox Business says pricing on Nov. 19 or 20 remains on track. Chip stocks rose premarket, with Nvidia up 1.4%, Broadcom up 1.5% and Micron up 2.3%. On Hyperliquid, the ANTH contract spiked to about $1,980 around the filing time, then fell roughly 6% to about $1,857 within minutes, with about $12 million traded over 24 hours.
- Anthropic's leaked IPO filing raises more questions than answers
Yahoo Finance's Market Hang panel breaks down the reportedly leaked S-1 filing of Anthropic (ANTH.PVT) ahead of a potential IPO, focusing on its revenue, costs and business model. According to the discussion, the company spent $9 billion on compute to generate $16 billion in revenue, 20% of its revenue comes from two customers, and it has $450 billion in compute commitments, about half non-cancelable. Roughly $750 billion more in deals is still under negotiation. Panelists question whether Anthropic can become profitable and generate cash flow, comparing it to WeWork's above-market leases, and say the $2 trillion target valuation mostly reflects market sentiment.
- Anthropic Says It Turned an Adjusted Profit Ahead of Its Expected IPO
Anthropic told potential investors on Wednesday that it reached profitability on an adjusted basis in the third quarter, with third-quarter revenue of $16.8 billion, though it declined to comment on the figures or listing timing. Documents previously reviewed by Bloomberg showed revenue of $386 million in 2024 and about $4.6 billion in 2025, alongside an operating loss above $8 billion and a net loss near $42 billion. Adjusted measures typically exclude stock compensation and noncash items, so they reflect operating trends more than bottom-line results. Google holds roughly 14% of Anthropic under a contract capping the stake at 15%, while Amazon has invested about $8 billion since 2023 and committed up to $20 billion more; the article argues Amazon likely gains more value from a listing, citing its $53.4 billion pre-tax gain in the second quarter and AWS growth. Formal IPO marketing could begin as soon as the week of November 9, with a listing targeted before year-end, though plans may change, and shares of Alphabet and Amazon both fell 1.74% that day.
- Anthropic's Public IPO Filing Shows a $266 Billion Cloud Risk
- Anthropic IPO reminds this former Amazon board member of Jeff Bezos's AWS bet
Investors may have to get comfortable with a public Anthropic (ANTH.PVT) spending billions of dollars on its AI vision, much as Amazon did with AWS, which required heavy capex with little short-term profit. Bing Gordon, a former early Amazon board member, recalled the board repeatedly approving AWS capex, including one year of $75 billion, and worrying about the lack of free cash flow while investing for the future. He said the market is usually poor at judging returns three or four years out, and that trust in the CEO, as the Amazon board had in Bezos, matters. The prospectus shows first-half 2026 revenue of $16.3 billion, up from $1.1 billion a year earlier, but a first-half net loss of $80.7 billion; bankers reportedly target a valuation of $1.5 trillion to $2 trillion, with a debut possibly before the end of November.
Related markets
Latest news
- India’s CoinDCX Confirms $16 Million Loss Days After CEO Called It a ‘False Alarm’
Indian crypto exchange CoinDCX has admitted losing 15.99 million USDT (about $16 million) on Oct. 21 in an incident involving its wallet infrastructure, after an internal process failed to sweep customer deposits out of wallets it had retired following a 2025 hack. The admission reverses CEO Sumit Gupta's earlier claim that the reports were a 'false alarm' and that the wallets had not been breached. The company said it has absorbed the loss itself and that customer funds remain safe. Together with the roughly $44 million hack in July 2025, the exchange's losses across the two incidents now total nearly $60 million.
- Prediction: This Magnificent Seven Stock Could Be a $1 Trillion Opportunity
24/7 Wall St. sets a price target of $423.95 for Alphabet (GOOG), implying 32.17% upside from the prior close of $320.76, and rates the stock 'buy' with 70% confidence, which would add about $1.3 trillion to its $4.05 trillion market cap. Shares are about 21% below their 52-week high of $403.96, even as Q2 revenue rose 24.2% to $119.80 billion, Google Cloud grew 82% with its backlog reaching $514 billion, and its operating margin expanded to 35.6%. The article flags risks including Q2 capex rising 100.14% to $44.92 billion, negative free cash flow of -$5.86 billion, long-term debt rising from $46.5 billion to $98.2 billion, a planned at-the-market program of up to $40 billion that could dilute shareholders, and a $3.5 billion EU fine. Among analysts, 13 rate the stock Strong Buy, 44 Buy, 5 Hold and none Sell, while the bull case is $442.71 and the bear case is $365.73. The author concludes that Alphabet looks undervalued, though the projections depend on continued AI execution, regulatory action and AI spending.
- Stock Market Midday, Oct. 26: Tech Sector Rallies on Anthropic IPO Filing and Cooling Oil Prices
As of 11:31 a.m. ET, the Nasdaq Composite was up 1.22% at 26,271, the S&P 500 up 0.91% at 7,693 and the Dow up 0.31% at 52,379. Tech stocks rallied after AI developer Anthropic filed for a historic IPO, with reported revenue growth of more than 1,300% year over year in Q2, while slightly lower crude oil prices helped the S&P 500 amid easing global inflation concerns. Surgery Partners soared 46% after confirming it will be acquired for approximately $5.7 billion, and Tesla rose after Barclays analyst Dan Levy upgraded the stock to 'buy' from 'hold' and raised his target price to $450 from $370. MercadoLibre fell nearly 10% as Brazil's presidential election results weighed on South American equities, while Meta Platforms announced a $95.0 billion fundraising effort for AI infrastructure. Gold rose 0.73% to $4,037.10 and the 10-year Treasury yield rose to 5.00%.
- Why Grupo Financiero Galicia ADR Crashed Today
Grupo Financiero Galicia ADR (GGAL) fell 7.3% through 11:40 a.m. ET as Latin American stocks sold off. The likely trigger was Brazil's presidential run-off, where incumbent Luiz Inácio Lula da Silva appears to have beaten Flávio Bolsonaro 51.8% to 48.2%, a result many investors had not expected. Bolsonaro has refused to concede, alleging the government suppressed votes in districts that lean toward him, while Argentine President Javier Milei, per Bloomberg, is the only South American leader not to recognize the result. The article argues the stock is largely insulated from Brazil, since S&P Global Market Intelligence data show 99.9% of its revenue comes from Argentina. It also notes the stock trades at 7.5 times current-year earnings estimates and is expected to double earnings per share over the next two years, and suggests the sell-off may be a good time for investors to act.
- SpaceX strikes $40B GPU leasing deal with private credit players
SpaceX has signed a $40 billion master finance lease to buy Nvidia GPUs supporting its subsidiary xAI and related data center projects, which it described as the largest committed GPU financing to date. Apollo and Goldman Sachs led the committed financing, with Goldman Sachs as structuring agent, and affiliates of BlackRock, Goldman Sachs Asset Management and KKR also provided financing commitments. Apollo will acquire “Vera Rubin” GPUs and related equipment from Nvidia and lease them to SpaceX in tranches, with lease terms of roughly 5 to 5.25 years, and SpaceX will pay rent equal to 5% of each tranche's financed cost plus a fixed annual rate on the outstanding balance, according to an Oct. 26 8-K filing. The deal exceeds a $36 billion structured notes deal led by Apollo and Blackstone to lease GPUs to Anthropic, and it is expected to close before year-end, with leasing starting in H1 2027. The GPUs will power xAI's Grok and the company's terrestrial compute buildout.
- South Korea lawmakers mull pushing crypto tax implementation to 2029
South Korean government officials are reportedly weighing another delay to the crypto income tax, currently set to take effect on January 1, 2027. According to Newsis, the tax could be pushed to 2029, partly because that is the earliest point at which information on digital asset exchange taxes can be shared with the US. The policy imposes a 22% tax on crypto gains (20% income tax and 2% local tax) for investors earning over 2.5 million Korean won ($1,883) a year, and has been delayed several times since it was proposed in 2020. An official said the government is discussing postponing implementation, while the US is scheduled to join the OECD's Crypto-Asset Reporting Framework in 2029 and South Korea will start in 2027. The official reportedly noted that the US accounts for nearly half of the virtual asset market.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.