Anthropic IPO draws multiple times the available orders: Why Wall Street sees it as a test of the AI boom
Anthropic's much-anticipated initial public offering (IPO) has attracted orders several times higher than the number of shares that is being offered, signalling strong investor interest in what could become the world's largest stock market debut, Bloomberg reported.
The maker of the Claude chatbot is trying to raise as much as $90.4 billion through its IPO and a private placement of shares, according to its filings. The offerings could surpass the $86.2 billion raised by SpaceX in its IPO earlier this year.
Anthropic is targeting a fully diluted valuation of around $1.4 trillion. The company is expected to price its offering on Wednesday, November 18, with trading scheduled to begin the next day.
The strong demand has been driven partly by the interest from anchor investors, according to Bloomberg.
The IPO is also being closely watched by Wall Street as it could offer investors an opportunity to assess the financial prospects of a publicly listed frontier artificial intelligence company. OpenAI will also launch its IPO likely in 2027.
Anthropic's debut is also seen as a potential catalyst for the broader AI trade, which has been under mounting pressure in recent weeks due to several factors.
The offering will likely influence investor sentiment towards AI-linked stocks, investors told Bloomberg. A strong debut could revive demand for the sector, while a disappointing performance may deepen concerns about the sustainability.
The IPO comes at a sensitive time for technology stocks with recent earning reports from major technology companies raising questions about the scale of spending on AI infrastructure and the expected returns on those investments. Concerns have also emerged over opposition to new data centres in some US states, which can slow the expansion of AI infrastructure.
Moreover, with their reliance on debt to fund AI investments, the technology companies will also be watching the US Federal Reserve's next moves. The rising inflation has added to expectations that the US Fed may keep interest rates higher and even increase it further.
Anthropic's market debut is particularly important as the company is among the leading players in the generative AI industry and has commercial and strategic ties with major technology companies, including Nvidia, Microsoft and Alphabet.
The IPO could also provide greater visibility into the economics of the AI industry. With Anthropic and rival OpenAI operating as private companies, investors have had limited access to detailed financial information. A public listing would require Anthropic to disclose more about its financial performance, spending commitments and growth trajectory.
Anthropic is also stepping up its investor outreach ahead of the listing. The company is planning a series of events for prospective investors, including a livestreamed discussion featuring Chief Executive Officer Dario Amodei and JPMorgan Chase CEO Jamie Dimon on Friday, Bloomberg reported.
Goldman Sachs and Morgan Stanley are leading the IPO, with 20 other banks participating, according to the company's filing. The shares are expected to list on the Nasdaq Global Select Market under the ticker symbol ANT.
Prabhakar Jha is a journalist and digital news editor with nearly a decade of experience in online media, specialising in breaking news, politics, national affairs. Having built his career across fast-paced digital newsrooms, he has developed a reputation for delivering accurate, timely, and reader-friendly stories while leading editorial teams during high-pressure news cycles. In 2026, he joined LiveMint as a Digital Content Producer. <br><br> A postgraduate in History from the University of Delhi, Prabhakar combines strong editorial judgment with a keen interest in public policy, governance, economics, and global affairs. Before joining LiveMint, he worked with leading digital publications, including News9Live and The Times of India, where he handled breaking news, copy editing, headline writing, live coverage, and newsroom coordination. <br><br> Beyond the newsroom, Prabhakar is passionate about long-form writing and storytelling. He has a particular interest in global affairs. An avid reader with a love for literary fiction, he also enjoys blogging, poetry, and working on creative writing projects.
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