Anthropic IPO announcement odds drop on Kalshi following midterms and AI sell-off
Kalshi traders cut the odds of an Anthropic IPO announcement before December as AI stocks sold off after Democrats won control of Congress.
New York-based investment firm XN is set to boost its stake in AI company Anthropic, despite the recent decline in technology stocks. In a letter to its investors, the firm's founder Gaurav Kapadia revealed that XN intends to be a major buyer of additional Anthropic shares during the company's upcoming public listing. XN first invested in Anthropic in 2025 and has taken part in three funding rounds.
At the time of the company's May fundraising, which valued Anthropic at $965 billion, its holding was worth around $5.3 billion. While Anthropic had reportedly aimed for an IPO valuation of over $1.5 trillion, a broad-based sell-off in AI-linked equities could pose challenges for these plans. Nevertheless, Kapadia remains confident in the company's financial health, praising its disciplined approach to capital allocation and robust balance sheet management amidst rapid growth.
He described Anthropic as a "category-defining enduring" business. XN's decision to increase its exposure to Anthropic follows similar actions by other major institutional investors, such as Coatue and D1 Capital, who are also looking to profit from the company's anticipated IPO.
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