Shares of neocloud AI infrastructure firms CoreWeave, Nebius Group and IREN have each fallen more than 30% this month, as Anthropic prepares a major IPO. Neoclouds have fewer revenue streams and less financial flexibility than large cloud providers, so heavy borrowing becomes riskier when rates rise or customers cut spending, and Gartner warned up to 80% could stop operating independently by 2030. Anthropic's IPO filing shows first-half 2026 revenue of $16.3 billion, up about 1,300% year over year, and more than 11,900 customers paying at least $100,000 a year. It also reported an $80.7 billion net loss, about $72.4 billion of it from noncash accounting adjustments, along with long-term computing commitments and roughly $131.7 billion in cash and short-term investments at the end of June. The article says Anthropic could be valued at $1.5 trillion to $1.75 trillion, and the sell-off suggests investors are becoming more discerning about AI valuations.
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CoreWeaveAnthropicIPOvaluationartificial intelligenceNVDA
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• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/28/2026 | 215.38 |
| Change that session | -1.17% |
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