When I woke up this morning, $BTC had fallen to around $69,000, down about 6.5% in 24 hours. $ETH was also down nearly 6%. The first thing I thought of wasn’t Nvidia—it was next Wednesday.
Anthropic has set November 18 as its pricing date, with a Nasdaq listing on the 19th under the ticker ANT. The prospectus says 825 million shares at $70 to $78 each, for a maximum raise of about $64.35 billion. There’s also a $26 billion private placement, with Google and Nvidia each contributing $10 billion. #AnthropicRejectsIPODelayValuationinQuestion
Two details caught my attention.
First, the retail allocation: CNBC says the target is about 20%, compared with the usual 5% to 10% for IPOs.
Second, the valuation has come down from the reported $2 trillion to about $1.4 trillion at the top of the range. Reuters quoted an IPO Boutique analyst saying that’s about 20% below market expectations, leaving room for investors to bid it up.
There’s one thing I can’t quite figure out. If a huge amount of retail money is really going to chase ANT next week, could some of the selling pressure in crypto over the past couple of days be people freeing up capital? I have no data to prove it; it’s just a guess. Today’s drop is still more likely due to the chain reaction from Nvidia.
Do you think an AI giant going public will draw money away from crypto, or rekindle risk appetite?
Anthropic has set November 18 as its pricing date, with a Nasdaq listing on the 19th under the ticker ANT. The prospectus says 825 million shares at $70 to $78 each, for a maximum raise of about $64.35 billion. There’s also a $26 billion private placement, with Google and Nvidia each contributing $10 billion. #AnthropicRejectsIPODelayValuationinQuestion
Two details caught my attention.
First, the retail allocation: CNBC says the target is about 20%, compared with the usual 5% to 10% for IPOs.
Second, the valuation has come down from the reported $2 trillion to about $1.4 trillion at the top of the range. Reuters quoted an IPO Boutique analyst saying that’s about 20% below market expectations, leaving room for investors to bid it up.
There’s one thing I can’t quite figure out. If a huge amount of retail money is really going to chase ANT next week, could some of the selling pressure in crypto over the past couple of days be people freeing up capital? I have no data to prove it; it’s just a guess. Today’s drop is still more likely due to the chain reaction from Nvidia.
Do you think an AI giant going public will draw money away from crypto, or rekindle risk appetite?
