Anthropic's IPO Filing Reignites the AI Trade Across Asia
Asian equities rose on Tuesday, October 27, extending a tech-led rebound on Wall Street after Anthropic PBC publicly filed for its long-awaited initial public offering. Bloomberg's "Asian Stocks to Gain as Anthropic Files for IPO: Markets Wrap" described the filing as reviving enthusiasm for artificial intelligence, while Reuters' "Asian stocks surge as Anthropic IPO lifts sentiment ahead of earnings, central banks" reported risk appetite returning after weeks of doubts about the AI trade. On Monday, October 26, the S&P 500 gained 0.7% to 7,676.77 and the Nasdaq Composite added 0.8% to 26,169.38.
Japan and South Korea led the regional gains. Japan's Nikkei 225 rose more than 2% intraday, touching highs near 2.4%, before closing up 1.73% at 63,268.37, with testing-equipment maker Advantest surging about 9%. Korea's Kospi jumped as much as 4.9% intraday and closed above the 5,600 level, powered by Samsung Electronics, up more than 4%, and SK hynix, up about 5%. Foreign investors, net sellers until the previous session, bought a net roughly 593 billion won, about $448 million, of Kospi shares and drove the rebound.
China was the outlier. Fortune's "Anthropic's IPO filing lifts stocks across Asia—except for China" recorded a 0.7% fall in Hong Kong's Hang Seng Index and a 1.3% drop in the mainland CSI 300. Chip stocks in Taiwan and mainland China were mixed, failing to follow their Japanese and Korean peers higher.
The filing itself gave investors their first detailed look at Anthropic's finances. Revenue reached $16.3 billion in the first half of 2026, up from about $1.2 billion a year earlier, against $4.6 billion for all of 2025. The second quarter alone brought $11.6 billion in revenue and a first-ever operating profit of $974 million, though the half as a whole still showed a $693 million operating loss. The headline $80.7 billion half-year net loss was dominated by a $72.4 billion non-cash charge from the rising fair value of convertible notes as Anthropic's own valuation climbed.
Anthropic plans to list Class A common stock on the Nasdaq Global Select Market under the symbol ANT, with Goldman Sachs and Morgan Stanley named as lead underwriters. The number of shares and the price range are undetermined. The Wall Street Journal reported the offering could raise $100 billion or more at a valuation of $1.5 trillion to $2 trillion, which would rank among the largest listings in history. Governance stays firmly with the founders: a single Class F share held by an entity owned by the seven co-founders carries 50.1% of the vote on most matters, alongside a Long-Term Benefit Trust electing a board majority.
Two companion deals amplified the signal. Meta Platforms plans to raise up to $95 billion in new equity, its largest-ever capital raise, to fund additional AI data centers. Broadcom arranged a $63 billion financing package with Bank of America, Blackstone, Citigroup and Morgan Stanley to fund chip purchases for Anthropic. Together they reassured investors that global AI infrastructure spending is continuing, not pausing.
The rally now faces a crowded calendar. Results from technology giants will test whether AI spending is paying off, while the Federal Reserve, the European Central Bank and the Bank of Japan all meet this week. Economists expect all three to hold rates, putting the focus on policymakers' language; traders are already pricing a possible Fed hike in December. How investors read the S-1's mix of steep losses and surging revenue, alongside those earnings and rate signals, will determine whether the AI enthusiasm endures.