Strong demand to see Anthropic shares jump on debut, says Pepperstone | The Business | ABC NEWS
Anthropic’s IPO is open to Australian investors, targeting a $US1.5 trillion valuation.
The maker of Claude will hit the boards of the Nasdaq on November 20. Pepperstone’s head of research, Chris Weston, says demand for shares has been strong. “This is the first effectively frontier lab company, AI lab company to list and it’s going to open up the door for some of the Chinese names, OpenAI as well.”
He says the share price will be supported by the fact there’s only a small amount of shares on offer “They’re issuing about 820 million (in) shares to private individuals, a few more to institutions through placement, that’s quite a tight amount of shares relative to total shares on issuance, about 6% of total shares.”
Most investors will eventually be exposed to the stock through the main US indices. Chris Weston says it will be a similar situation to the Space X listing. “So effectively what’s going to happen with Anthropic, just as we saw with SpaceX, after 15 days, they will go into the NASDAQ composite and NASDAQ 100 and they will have a weighting, which is determined by the free float and they multiply that to an effect as well. But if you’re looking for it to go into the S&P, well, it’s going to take quite some time. ”
Chris Weston also discusses the outlook for Nvidia and hotter than expected US CPI data for October, which he thinks will lead to a US Federal Reserve rate hike in December.
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