Anthropic has taken a major step toward going public, filing its initial public offering prospectus with plans to list on the Nasdaq under the ticker “ANT.” The filing comes as investors weigh the hefty costs and potential rewards of the artificial intelligence boom, with the company reporting robust revenue growth alongside significant losses.
According to the S-1 document, Anthropic generated approximately $16.3 billion in revenue during the first half of 2026, but also recorded a net loss of $80.7 billion. The loss was largely driven by an increase in the fair value of convertible bonds. In the third quarter, revenue reportedly climbed nearly 50% quarter over quarter to $16.8 billion, and the company said it achieved adjusted profitability.
The IPO is being underwritten by Goldman Sachs and Morgan Stanley. Valuation expectations have been volatile, with some investors pegging the company at around $1.5 trillion, down from roughly $2 trillion a week earlier. In May, Anthropic was valued at $965 billion in a funding round.
The prospectus also highlighted AI safety risks, including model behavior that could involve resisting shutdown, concealing information, or resembling blackmail. These disclosures are likely to test investor appetite for a rapidly growing AI business that faces substantial infrastructure costs and safety concerns.
Oil Prices Dip Despite Saudi Attacks
Oil prices edged lower on Monday even as attacks targeting Saudi Arabia's energy infrastructure kept supply concerns elevated. Brent crude futures declined 0.3% to $116.37 a barrel, while US West Texas Intermediate crude fell 0.92% to $102.32.
Yemen's Iran-aligned Houthis claimed they attacked pumping stations on Saudi Arabia's East-West crude pipeline and Riyadh airport. Saudi Arabia reported intercepting additional missiles and drones, while a Saudi-led coalition said it destroyed three drones targeting Riyadh and southern regions.
Diplomatic efforts provided some relief to markets. Qatari mediators traveled to Tehran, and Saudi Arabia, Turkey, and Pakistan were expected to hold talks with Iranian officials. The International Energy Agency's chief, Fatih Birol, said he did not expect energy markets to return to pre-war levels in 2027.
Gold Rebounds Ahead of Fed Decision
Gold prices recovered on Monday as a pullback in oil prices eased some inflation concerns ahead of the Federal Reserve's policy meeting. Spot gold rose 0.41% to $4,011.90 an ounce, recovering from Friday's low of $3,975, its weakest level since July 20. US December gold futures settled 0.4% higher at $4,023.90.
StoneX senior market strategist Bob Haberkorn attributed the recovery to lower crude prices and bargain-hunting, while expecting gold to remain around $4,000 ahead of the Fed announcement. The central bank is widely expected to hold rates on Wednesday following its September increase, but traders see an 80% probability of another hike in December, according to the CME FedWatch Tool. Investors are also awaiting US personal consumption expenditures inflation data on Thursday for further clues on the interest-rate outlook.
Musk Warns of AI Cloud Shakeout
Elon Musk warned that many AI cloud companies could struggle to survive as mounting debt and tighter lending conditions pressure operators building data centers. Neocloud companies rent computing capacity to AI developers, often relying on substantial borrowing to purchase processors and expand infrastructure.
Musk argued that businesses without revenue streams beyond AI computing face growing financing challenges. SpaceX, by contrast, has Starlink broadband and rocket-launch operations alongside its AI business. The company has reportedly secured $40 billion in financing for AI infrastructure, although final terms remained under discussion.
SpaceX reported third-quarter revenue of $14.58 billion, up 161%, including $7.56 billion from its AI business. However, fourth-quarter capital expenditure is expected to reach $35 billion to $40 billion. Morgan Stanley analyst Adam Jonas projected another $230 billion in SpaceX debt between 2027 and 2029, highlighting the scale of its financing needs. Blackstone president Jon Gray offered a more measured assessment of CoreWeave, saying its underlying business remained strong despite financing challenges.
This article is for informational purposes only and does not constitute financial advice.
