AI Giant Anthropic Unveils Paperwork for Blockbuster IPO -- WSJ

By WSJ Staff

Anthropic, one of the biggest names in artificial intelligence and the maker of Claude, is moving ahead with its blockbuster initial public offering.

Paperwork for the IPO has just been made public, and the filing, known as an S-1, gives us a look at its strategy, finances and what it sees as the biggest threats to its business.

Anthropic, planning to trade under the ticker ANT, had been expected to aim for a valuation of as much as $2 trillion, a figure that would break the record set by SpaceX's June offering. But some investors have been pushing for a lower valuation in light of Anthropic's latest revenue figures and a string of aborted IPOs of other AI-related companies.

Elsewhere, stocks are gaining modestly, but the AI trade remains under scrutiny.

CoreWeave, which has landed in the center of fears around the AI trade, is sliding again, with other neocloud stocks also dropping after Elon Musk predicted a reckoning for the sector. Meta stock fell after it announced a mega equity raise to fuel its AI spending.

Brazilian stocks are poised for a historic selloff after President Luiz Inacio Lula da Silva unexpectedly won re-election last night, beating Flavio Bolsonaro, who was seen as the more markets-friendly candidate. The iShares MSCI Brazil ETF dropped by a quarter, its biggest-ever decline.

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October 26, 2026 09:38 ET (13:38 GMT)