Anthropic’s mega-IPO plan looms over packed US listing calendar
Some firms are reported to be finding it hard to get the attention of long-term investors at a time when Anthropic’s offer is looming around the corner
Anthropic's anticipated IPO is casting a large shadow over the US listing calendar, prompting other companies to reconsider their own plans. The Claude AI developer hopes to raise up to $86.2 billion, potentially surpassing SpaceX's record $86.2 billion debut. Some firms are struggling to attract long-term investors and sovereign wealth funds due to Anthropic's imminent IPO.
The rush to list ahead of the AI giant has become reminiscent of the chaos surrounding SpaceX's listing in 2019, when 14 large companies went public in the month leading up to it. With the mid-term elections looming in November and inflation remaining above expectations, companies may opt to avoid the crowded landscape and wait for a more favorable time.
Rob Stowe, head of Americas equity capital markets at Barclays Plc, anticipates a busy September and October due to the Federal Reserve meeting followed by the election. Companies briefing money managers on their IPO plans are primarily focused on AI themes, with cloud computing firm Nscale joining Anthropic in the queue. Notable exceptions include Oura Health Oy, a maker of smart rings, and Aggreko Plc, a temporary power provider.
Digital infrastructure firm SB Energy and Inspire Brands Inc., backed by SoftBank Group Corp., are also expected to raise substantial funds before the election. While large companies are vying for billions, smaller deals face challenges in attracting attention. The weighted-average return for US IPOs this year is 5.6%, significantly lower than the S&P 500's 13% and the Nasdaq 100's 17%.
Biotech IPOs are a positive indicator for the sector, with an average of $329 million raised in 2026, the highest since 2018. Despite the strong year-end outlook, larger deals have underperformed, with six of the ten biggest deals falling below their offer price. Nonetheless, optimism is returning, with the S&P 500 up 5.4% and the Nasdaq 100 up over 8% since July lows, encouraging companies to consider listing soon.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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