Seemingly everyone is poring over Anthropic’s (ANTH.PVT) IPO prospectus this week, even other C-suite execs like Robinhood’s (HOOD) CFO Shiv Verma.
“I’ve lived it. The growth rates are pretty incredible, … up 1,300% year over year, I don’t remember seeing any other company do that well,” Verma told Yahoo Finance about what caught his attention in the prospectus.
“The other thing I found interesting was that they were showing what percentage of their customers are in different categories,” Verma added. “And so if you’re spending over $10 million a year, you’re in the top 250 customers. I thought that was a pretty interesting stat, because I thought it would be a little bit bigger, but it just shows how big their future TAM (total addressable market) is.”
Verma has no choice but to read every page of the S-1 for at least two reasons.
For one thing, Verma runs Robinhood Ventures.
This is a concentrated investment portfolio with strong roots in leading AI and data infrastructure giants, including OpenAI (OPAI.PVT), Databricks (DATB.PVT), AI recruiting platform Mercor and coding assistant Cognition. So how Anthropic is received by investors could have a huge impact on the valuations of portfolio companies and, by extension, the overall value of Robinhood.
Second, Robinhood’s retail investor base, passionate about all things AI, will likely generate a lot of interest in trading Anthropic stock and also using the highly anticipated debut to enter and exit other AI names.
As it stands, the S-1 has been generally well received by the markets.
Anthropic’s revenue in the first half of 2026 jumped to $16.3 billion from $1.1 billion a year earlier, according to the prospectus. The filing also reveals a first-half net loss of $80.7 billion, a strong signal of aggressive spending on AI in the years to come.
On an adjusted basis, Anthropic reported an operating profit of $1.62 billion in the first six months of 2026, compared to a loss of $1.85 billion last year.
The company is praised for its strong revenue growth rates and free liquidity of more than $131 billion.
Investment bankers are reportedly targeting an astronomical valuation of around $1.5 trillion to $2 trillion.
Anthropic could hit the public markets before the end of November. It plans to list on Nasdaq under the symbol ANT.
Brian Sozzi is the editor-in-chief of Yahoo Finance, host of the Sozzi unleashed morning show, the ‘Powerful actors with Brian Sozzi podcast and member of the Yahoo Finance editorial leadership team.
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