Anthropic IPO could see historic $250M retail buying on debut, Vanda Research says
Anthropic's much-anticipated stock market debut could attract record demand from individual investors, potentially making it one of the largest single-day retail buying events for a stock.
According to Vanda Research, the artificial intelligence company could see approximately $250 million in net retail buying on its opening day, more than twice the previous IPO record set by SpaceX.
Anthropic is preparing to list its shares on the Nasdaq on November 19 amid intense investor interest in the artificial intelligence sector.
Track ANT ahead of its debut
Visit SiteAnthropic’s IPO buzz could pull retail demand into ANT’s first session.51% of retail investor accounts lose money when trading CFDs with this provider.Anthropic set for historic debut
It would be one of the biggest single days of retail buying in any stock ever. Only six stocks have topped $250 million in a single day since 2014. Anthropic next week could draw the kind of retail buying that we have rarely seen.
Vanda Research on Anthropic IPO,
Vanda Research said on Wednesday in a note shared with Invezz that Anthropic is shaping up to be a record retail IPO based on its analysis of retail activity during previous listings and trading volumes in the company's pre-IPO perpetual futures on Hyperliquid.
Pre-IPO perpetual futures are derivative contracts traded on exchanges such as Hyperliquid and Coinbase.
They allow traders to speculate on the valuations of private companies without directly owning or trading their underlying shares. The contracts are priced with reference to the company's latest disclosed pre-IPO valuation.
“Judging by pre-IPO perp trading, Anthropic is shaping up to be a record retail IPO,” wrote Viraj Patel, global macro strategist at Vanda Research.
The firm estimates that the projected $250 million in net retail buying would make Anthropic's debut one of the largest single-day retail buying events for any stock.
Anthropic IPO in demand
The retail buying projection comes as Anthropic's planned initial public offering has already attracted orders worth several times the number of shares available, Bloomberg reported on Wednesday.
Demand has been driven by substantial indications of interest from prospective investors, according to the report.
The Claude chatbot creator and its co-founders are seeking to raise as much as $90.4 billion through the IPO and a separate private placement, according to regulatory filings.
Anthropic is targeting a fully diluted valuation of approximately $1.4 trillion through the offering.
The combined transactions would exceed the $75 billion raised by SpaceX in June, potentially making Anthropic's listing the largest ever.
The scale of the proposed offering, alongside the expected retail interest, highlights the attention surrounding the AI company's entry into public markets.
Anthropic's financial profile
Anthropic's financial profile is also drawing attention ahead of the listing. Its annualized revenue run rate reached approximately $81 billion by October 31.
However, the company also faces nearly $900 billion in computing and infrastructure commitments spread across multiple years.
The company has also highlighted potential risks associated with developing increasingly capable AI systems.
Anthropic warned that failing to keep safety protections aligned with advances in model capabilities could expose it to incidents, regulatory intervention, and reputational damage.
Anthropic's shares are expected to trade on the Nasdaq Global Select Market under the ticker symbol ANT.
The proposed listing comes at a crucial time for the artificial intelligence trade, which has faced recent setbacks over investor concerns regarding the sustainability of the boom.
AI disclosure: AI tools assisted with research and drafting of this piece. An Invezz editor reviewed the facts, sources, and wording before publication. Any opinions or analysis are Invezz’s, not those of an automated system.