Possibly the biggest IPO in history—and this time, a seat has been reserved for retail investors.
Anthropic’s latest IPO filing names six brokerages, including Schwab, Fidelity, Robinhood, and SoFi, where retail investors can subscribe at the offering price.
The same filing also says: Q3 revenue was $17 billion, but operations swung from profit to a loss ($567 million); going forward, the company plans to spend over $895 billion.
The internet is split:
One side says, “Retail investors can finally get a piece of the private-market action.”
The other says, “Institutions can’t swallow a company valued in the hundreds of billions, so now they’ve thought of you.”
What I care more about is the deal behind the deal:
Brokerages are competing for allocations to attract and retain customers; early investors want public pricing and an eventual exit; the company wants fresh fuel for nearly a trillion dollars in spending.
What retail investors get is an entry ticket—and the role of the most dispersed, least able-to-bargain buyers in this money-burning machine.
I lean toward the latter view—you’re often invited aboard because the vehicle is too big.
But if you really get shares at the offering price, that’s at least one less layer of markup than chasing it after trading opens. That’s true, too.
Would you try to get in, or wait to see how it trades after opening?
#Anthropic #IPO #美股 #AI
Anthropic’s latest IPO filing names six brokerages, including Schwab, Fidelity, Robinhood, and SoFi, where retail investors can subscribe at the offering price.
The same filing also says: Q3 revenue was $17 billion, but operations swung from profit to a loss ($567 million); going forward, the company plans to spend over $895 billion.
The internet is split:
One side says, “Retail investors can finally get a piece of the private-market action.”
The other says, “Institutions can’t swallow a company valued in the hundreds of billions, so now they’ve thought of you.”
What I care more about is the deal behind the deal:
Brokerages are competing for allocations to attract and retain customers; early investors want public pricing and an eventual exit; the company wants fresh fuel for nearly a trillion dollars in spending.
What retail investors get is an entry ticket—and the role of the most dispersed, least able-to-bargain buyers in this money-burning machine.
I lean toward the latter view—you’re often invited aboard because the vehicle is too big.
But if you really get shares at the offering price, that’s at least one less layer of markup than chasing it after trading opens. That’s true, too.
Would you try to get in, or wait to see how it trades after opening?
#Anthropic #IPO #美股 #AI