Steve Eisman accused Anthropic of deliberately leaving third-quarter financial figures out of its IPO prospectus, arguing that newer numbers could reveal a sharp slowdown in growth. He made the remarks on Prof G Markets on Wednesday.
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AnthropicIPOartificial intelligenceAMZNearnings
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AMZN
• NeutralAmazon
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.7T |
| Close on 10/27/2026 | 253.15 |
| Change that session | +1.63% |
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Related news
- 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.
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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.
- 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.
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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.
- VCs will make billions on Anthropic’s IPO, but Amazon is set to make much (much) more
Venture investors including Menlo Ventures, Sequoia, Sound Ventures and Spark Capital are expected to earn billions from Anthropic's IPO, but according to its S-1 none of them owns 5%, the threshold for the principal stockholders table, which is unusual for a tech IPO. At the company's $965 billion private valuation, Menlo's roughly $14 billion stake is only about 1.5%. The article says Amazon is likely the largest financial beneficiary: it first backed Anthropic in 2023 with up to $4 billion, mostly through convertible notes, which carried $6.2 billion in principal as of June 30 and were valued at $97.9 billion in Amazon's filings. Anthropic recorded a non-cash $72.4 billion charge in the first half of 2026 for the change in fair value of these liabilities, and a 12% cap limits Amazon's conversion, though Amazon can waive it. Amazon also invested $10 billion in nonvoting preferred stock in the second quarter, bringing its total investment to about $18 billion.
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