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Nvidia earnings and Anthropic IPO set as tests for the AI trade

CNBC said Nvidia's Tuesday report under an interim CEO and Anthropic's planned Nasdaq listing are the next tests for AI-linked stocks after a volatile week.

What's new
  1. New headline Was: “Nscale amends U.S. IPO filing as nine-month revenue jumps, losses widen”
  2. Our desk updated its story
  3. New headline Was: “Anthropic sets IPO range that could value Claude maker near $1.4 trillion”
  4. Our desk updated its story
  5. Our desk filed its story
15 earlier updates
  1. New headline Was: “Anthropic sets IPO range that could value Claude maker near $1.4 trillion”
  2. ipo.anthropic.com is now reporting this
  3. New headline Was: “Anthropic sets $70–$78 IPO range, opens Australia retail offer”
  4. Our desk updated its story
  5. Anthropic, France 24 and 10 more are now reporting this
  6. New headline Was: “Anthropic opens Australian retail IPO offering as AI scrutiny intensifies”
  7. Our desk filed its story
  8. New headline Was: “Anthropic said to press ahead with IPO as size figures circulate”
  9. Al Jazeera is now reporting this
  10. BBC, The Guardian and 2 more are now reporting this
  11. Still developing
  12. anthropic.com is now reporting this
  13. Still developing
  14. ABC News and New York Times are now reporting this
  15. wsj.com is now reporting this

Investors heading into the week of Nov. 16 are watching two AI-linked events: Nvidia's quarterly results and Anthropic's planned initial public offering, CNBC reported1.

Nvidia is scheduled to report Tuesday after the close, with Colette Kress serving as interim chief executive after Jensen Huang left the company1.

CNBC said Nvidia shares ended last week down about 13% while some other large technology stocks rose, and that traders will look for succession comments as well as the usual demand outlook1.

Anthropic, the maker of the Claude models, launched an IPO roadshow and said it plans to offer 825 million Class A shares at $70 to $78 each, listing on Nasdaq as ANT3,14.

The company said 801.4 million shares would be sold by Anthropic and 23.6 million by existing holders, with underwriters able to buy up to 123.75 million more3.

At the top of that range, TechCrunch said the implied fully diluted value would be about $1.404 trillion, with IPO proceeds of up to about $64.35 billion before a separate private sale13,8,9.

Anthropic also described a $26 billion private placement of non-voting Class N stock at the IPO price to chip and cloud companies including Google and Nvidia13,9.

Al Jazeera and TechCrunch, citing the filing, said third-quarter revenue was $17 billion and that Anthropic put an October revenue run-rate near $81 billion, with large compute commitments on the other side of the ledger9,13.

Each of seven co-founders plans to sell the same block of shares, about $250 million at the $74 midpoint, TechCrunch reported4,13.

BBC noted the listing comes after a sharp Nasdaq drop tied to political and spending worries around AI infrastructure8.

Reuters reported, via Bloomberg, that bankers described the deal as about six times oversubscribed5.

Japan Times compared the cash raise with SpaceX's record IPO while using a lower market-value figure based on shares outstanding in the filing, illustrating how outlets differ on the headline valuation10,13.

Sources

  1. CNBCThe AI trade faces big tests next week, starting with Nvidia earnings and capped by Anthropic IPO
  2. ipo.anthropic.comAnthropic IPO
  3. AnthropicAnthropic launches roadshow for proposed initial public offering
  4. TechCrunchAll 7 Anthropic founders will each cash out about $250M in IPO
  5. ReutersAnthropic's IPO is about six times oversubscribed, Bloomberg News reports
  1. The GuardianAnthropic targets valuation of up to $1.4tn in stock market flotation
  2. The VergeAnthropic targets $1.4 trillion IPO
  3. BBCClaude chatbot maker set for $1.3tn stock market debut despite 'catastrophic' AI warning
  4. Al JazeeraAnthropic targets $1.4 trillion valuation in massive stock market debut
  5. The Japan TimesAnthropic targets $64.4 billion IPO, nearing SpaceX’s record
  6. APAnthropic seeks valuation of about $1.3 trillion when it becomes a publicly traded company
  7. New York TimesAnthropic Targets Valuation of Up to $1.4 Trillion for Blockbuster I.P.O.
  8. TechCrunchAnthropic sets IPO price range of $70 to $78 per share to reach an implied valuation of $1.404 trillion
  9. CNBCAnthropic sets price range of $70 to $78 in upcoming IPO as AI lab marches towards Nasdaq

How it’s being reported

12 sources

First reported by AnthropicAnthropic

CNBCAnthropicipo.anthropic.comTechCrunchReutersThe Guardian

Where they agree

  • Anthropic set a $70-$78 range for a large Class A offering.
  • The intended ticker is ANT on Nasdaq.
  • Nvidia earnings are due this coming week.
  • AI-linked stocks have been volatile around politics and spending.

Where they differ

Headline valuation of Anthropic

Side by side

Each outlet's article broken down by our newsroom, in our own words. To read what they wrote, use the button under each one.

CNBCCNBC

The AI trade faces big tests next week, starting with Nvidia earnings and capped by Anthropic IPO

Nvidia earnings Tuesday and Anthropic IPO as market tests

CNBC said Nvidia earnings and Anthropic's IPO are the next tests for the AI trade after a volatile week.

Nvidia earnings Tuesday and Anthropic IPO as market tests

What it reports

  • Nvidia reports Tuesday after the close with Colette Kress as interim CEO after Jensen Huang's exit.
  • CNBC said Nvidia ended the week down about 13% while other tech names rose.
  • Anthropic's IPO is framed as a second catalyst the same week.

Same copy also at: CNBC

AnthropicAnthropic

Anthropic launches roadshow for proposed initial public offering

official offering terms

Anthropic said it launched a roadshow for 825 million Class A shares at $70 to $78, ticker ANT.

official offering terms

What it reports

  • 825 million Class A shares; 801.4 million from the company and 23.6 million from stockholders.
  • Price range $70 to $78; optional extra 123.75 million shares.
  • Nasdaq Global Select, symbol ANT.