Anthropic’s $1.4 trillion IPO on Thursday sets up a defining test for an AI trade buffeted by market turbulence, mounting political backlash, and a crisis at Nvidia.
Now roughly six times oversubscribed, the listing could boost an industry whose “picks and shovels” firms have shed $4.2 trillion in value since June.
Anthropic has “diversified their hardware suppliers” beyond Nvidia, a Morningstar analyst told The New York Times, but is expecting a $10 billion investment from the troubled chipmaker immediately after its IPO.
“Nvidia and Anthropic’s future are more intertwined than ever before,” an investor added, and “less-than-stellar” Nvidia earnings Tuesday could inject uncertainty ahead of Anthropic’s debut, an analyst told Reuters.
— Brendan Ruberry
