Anthropic, creator of Claude, has filed for an IPO that could be the largest initial stock offering in history, with investors already valuing the five-year-old company in the trillions. The listing is seen as critical for tech and Wall Street, as the AI boom has been driven mainly by Anthropic and OpenAI, while Firmus and Solidigm have withdrawn IPO plans amid jitters in AI-linked stocks. Anthropic's second-quarter revenue rose to $11.56 billion from $787 million a year earlier, and it posted $974 million in operating income after five quarters of losses, though it booked over $80 billion in losses in the first half of the year. Close to half its revenue comes from Claude sold through the cloud units of Microsoft, Amazon and Alphabet, which all hold stakes in the company. Analysts say its stock reception could set the tone for AI valuations, while the company acknowledges competition from open-weight models.
Summary written by Upside AI from the original article. Read the source for full details.
Keywords
AnthropicIPOartificial intelligenceearningsvaluationcloud computing
Open a keyword to see other news on the same topic.
Related tickers and likely impact
AMZN
▲ Likely positiveAmazon
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.7T |
| Close on 10/26/2026 | 249.01 |
| Change that session | +0.41% |
GOOGL
▲ Likely positiveAlphabet Inc. (Class A)
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/26/2026 | 316.89 |
| Change that session | -1.04% |
NVDA
▲ Likely positiveNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/26/2026 | 215.98 |
| Change that session | +2.38% |
MSFT
▲ Likely positiveMicrosoft
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/26/2026 | 532.75 |
| Change that session | +1.57% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Anthropic's Revenue Surged to $16.3 Billion in the First Half of 2026, Up From $1.1 Billion a Year Ago
According to disclosures from a draft IPO prospectus reported by The Wall Street Journal, Anthropic generated around $16.3 billion in revenue in the first half of 2026, up from $1.1 billion a year earlier, while spending nearly $9 billion on computing capacity. It has committed to around $450 billion in mostly noncancelable computing agreements over seven to 10 years, and is negotiating deals that could raise total commitments by up to $150 billion. The company posted an $80.7 billion net loss in H1 2026, of which $72 billion came from accounting charges tied to convertible notes and other fundraising instruments. The draft also flags risks, including about one-fifth of revenue coming from two customers, data center backlash, liability from misaligned AI models, and possibly insufficient insurance against catastrophic AI incidents. The company is reportedly targeting a valuation of up to $2 trillion, which the article says would be over 60 times annualized H1 2026 revenue.
- Anthropic: The 5 Most Important Things Investors Need to Know from Its IPO Filing
Anthropic filed its initial S-1 on Oct. 26, planning a Nasdaq listing under 'ANT' with an expected valuation of $1.5 trillion to $2 trillion, though the filing gave no price or share count. Revenue rose 1,304% to $16.29 billion in the first half of 2026, but management reportedly guided Q3 revenue to $16.8 billion, a sharp sequential slowdown from $11.6 billion in Q2. No customer exceeded 10% of revenue in the first nine months, and 48% of revenue came from cloud providers offering its models. The $80.7 billion first-half loss is mostly non-cash and tied to convertible notes; excluding about $72 billion of those charges, the loss would be around $8.7 billion. The filing also lists large compute commitments, including $114.5 billion with Alphabet and $120.5 billion with SpaceX, while Q2 compute costs grew 300% against 1,368% revenue growth.
- Anthropic relies on Google, Amazon and Microsoft for nearly half its revenue
Anthropic generated 48% of its revenue in the first half of 2026 through cloud marketplace sales from Google, Amazon and Microsoft, up from 11% in 2023, according to its IPO filing published Monday. The company paid channel partners, including the cloud providers, $2.7 billion more than a year earlier; the providers bill customers and pass payments to Anthropic after deducting their fees. Anthropic reported second-quarter sales of $11.6 billion and an operating profit of $974 million. Amazon has invested about $18 billion and Google about $23 billion, and Anthropic has committed to spend at least $114.5 billion with Google through 2033, $110 billion with Amazon through 2036 and $44.9 billion with Microsoft. The filing warns that the cloud companies act as investors, customers, distribution partners and competitors at once, and could favor their own AI models.
- Anthropic S-1 shows cloud marketplaces carried 48% of first-half revenue
- Anthropic Has Over $600 Billion in Compute Contracts — And It's Not Enough
Anthropic PBC has signed up for more than $600 billion in long-term computing capacity. Its draft IPO prospectus, however, says the company still cannot secure as much compute as it wants.
- Making sense of Anthropic's $750 billion compute bet
A Wall Street Journal report on a new draft IPO prospectus says Anthropic's revenue for the first half of 2026 reached $16.3 billion, up from $1.1 billion a year earlier, while compute and infrastructure spending rose to nearly $9 billion from $2.3 billion. The company posted a net loss of $80.7 billion, mostly from accounting for convertible shares and notes. Its compute commitments could reach $750 billion, including non-cancelable contracts of $111 billion with Google, $110 billion with Amazon Web Services and $31 billion with Microsoft, regardless of actual usage. The discussion noted that about $600 billion is essentially committed, with talks on another $150 billion, and that two customers make up roughly a fifth of first-half revenue, so any pullback in hyperscaler spending could significantly hit revenue.
Related markets
Latest news
- One bank's Q3 profit falls nearly 80%
As of 26 October, Q3 pre-tax profits of Saigonbank, KienlongBank, BAOVIET Bank and PGBank all declined year on year, with Saigonbank's falling nearly 80%. Saigonbank reported Q3 pre-tax profit of VND 17.8 billion and nine-month pre-tax profit of nearly VND 66 billion, down nearly 75%, mainly due to weaker services and foreign exchange trading and sharply higher operating costs. Its loans to customers stood at VND 21,754 billion as of 30/6/2026, slightly lower than at end-2025, while customer deposits fell to VND 25,171 billion. BAOVIET Bank's Q3 pre-tax profit fell 41% to VND 17 billion, KienlongBank's dropped 12.7% and PGBank's fell over 10%, although KienlongBank and PGBank still posted nine-month growth. Positive results in some business lines were not enough to offset the factors weighing on profits.
- US ready to strike Iran within 96 hours if President Trump gives the order
Sources say US forces in the Middle East are ready to launch new military operations against Iran, possibly on a large scale, within 96 hours of receiving orders from President Donald Trump. The operations could go well beyond earlier strikes that targeted radars, launchers and other Iranian assets that could be quickly restored. The target list reportedly includes energy infrastructure, military sites and nuclear facilities, and officials believe an order could come before year-end, most likely after the midterm elections. Intelligence assessments suggest Iran and the Houthis would likely retaliate against US personnel and facilities if Iran is attacked first. Israeli Prime Minister Benjamin Netanyahu has reportedly pushed for new strikes, but US officials have asked him to delay.
- Wave of interest rate cuts is gaining momentum
Many banks continue to cut deposit rates and launch preferential lending packages worth tens of thousands of billions of dong, in response to the State Bank of Vietnam's directive to lower interest rate levels. VPBank cut deposit rates by a further 0.4 percentage points for 6–13 month terms, and online deposits under VND 10 billion for 6–11 months now earn 6.6% per year. Sacombank launched a VND 20,000 billion package for individual customers, cutting lending rates by 1.5–2 percentage points, after a VND 40,000 billion corporate program. MSB, VIB and VPBank also have packages of VND 10,000–15,000 billion, with lending rate reductions of 1.5–2 percentage points depending on conditions. Under Official Dispatch No. 9736/NHNN-CSTT dated 21/10/2026, banks must cut average deposit rates for new transactions of 6 months or more by at least 0.5% per year, and non-compliant banks could face penalties, including reduced credit growth targets.
- Ripple wins final US approval for national trust bank
Ripple has received final approval from the US Office of the Comptroller of the Currency (OCC) for Ripple National Trust Bank (RNTB), completing a chartering process that began with conditional approval in December 2025. The trust bank can manage reserves backing the RLUSD stablecoin, act as collateral trustee for RLUSD holders and provide digital asset custody, while RLUSD will continue to be issued by Standard Custody & Trust Company. Ripple CEO Brad Garlinghouse said crypto and banks work better together. Circle secured final OCC approval in July, while Coinbase, Crypto.com and Bridge remain at the conditional approval stage. According to the OCC, most national trust banks do not accept deposits or make loans and do not carry FDIC insurance.
- 30 September 2026 Quarterly Activities Report
Barton Gold Holdings (ASX: BGD) completed 38,760m of 'Phase 2' drilling at its Tunkillia Gold Project in South Australia, bringing total drilling over the past 12 months to 57,653m, with several new high-grade assays reported. JORC Mineral Resource updates are pending, targeted for Q4 CY26 for gold and Q1 CY27 for silver, while a pre-feasibility study is targeted for publication by the end of Q1 CY27. Per the Optimised Scoping Study, Tunkillia could produce about 120,000oz of gold and 260,000oz of silver annually, with approximately $1.75 billion operating profit modelled over the first ~27 months at current prices. The Tolmer silver discovery has been extended to a 500m strike length, and the company holds $23.2 million in cash with no debt.
- Bank of Japan is expected to hold rates this week — but stay hawkish: CNBC survey
A CNBC survey of 16 economists and analysts found all expect the Bank of Japan to keep its policy rate at 1.25% at the end of its two-day meeting on Friday. Most expect a rate hike in December or January next year as domestic inflation and wages keep rising, with core inflation excluding fresh foods at 2.1% and inflation-adjusted wages up 1.5% from a year earlier. Some analysts see no clear sign inflation is accelerating enough to justify consecutive hikes, and say the policy board may lack consensus given the fragile domestic bond market. The 10-year JGB yield is expected to reach 3% to 3.1% by year-end, up from 2.809%, while the terminal rate is seen at 1.75% to 2% by around mid-2027.
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.