Anthropic Just Filed to Go Public 🚀

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Anthropic's IPO filing helped lift tech stocks on Monday, and now all eyes turn to Wednesday's Fed decision and a heavy slate of Big Tech earnings.

Let’s get into it 👇️ 

📞 Verizon beat profit estimates but missed on revenue, and shares slid about 3% Monday. Adjusted earnings were $1.31 a share versus $1.28 expected, while revenue of $34.3 billion fell short of the $34.8 billion forecast. It added 406,000 postpaid phone customers and raised its profit-growth outlook to 7% to 7.5%.

💲 EQT agreed to buy fellow natural gas producer Range Resources in an all-stock deal. Range shareholders will get 0.987 EQT shares for each share they own, creating a company with an enterprise value above $50 billion. The companies expect $325 million in annual savings within two years, with closing targeted for the first quarter of 2027.

🛢️ Oil slipped Monday on hopes of easing U.S.-Iran tensions, with Brent near $115 a barrel and U.S. crude around $101. Prices remain elevated after Brent settled at $116.72 Friday, its highest close since April 29. Costly oil feeds inflation, the very problem the Fed is wrestling with this week.

🚘️ Tesla shares jumped about 5% Monday after Barclays upgraded the stock to Overweight. The bank raised its price target to $450 from $370, pointing to a possible combination with SpaceX, robotaxi growth, and a recovery in Tesla's core car business.

🤖 Meta shares fell about 2% Monday after the company disclosed plans to raise up to $95 billion to fund AI infrastructure. The size of the raise fed investor worries about how much cash the AI buildout is burning, even as Anthropic's filing eased fears of an AI slowdown.

💰️ Bitcoin hovered around $80,000 Monday after dipping to about $79,300 overnight. U.S. spot Bitcoin ETFs saw roughly $773 million in outflows last week, according to SoSoValue, as traders waited on the Fed. Markets put about a 90% chance on the Fed holding rates steady Wednesday.

📊 Traders see a Fed hold Wednesday as very likely, but they're betting on another rate hike in December. CME's FedWatch tool showed about a 90% chance of no change this week and roughly an 80% chance of an increase in December. The Fed raised rates to a range of 3.75% to 4% in September.

🏘️ The 10-year Treasury yield sat right at 5% on Oct. 23, keeping borrowing costs high for homebuyers. The average 30-year mortgage rate was about 7.3% last week, according to Mortgage News Daily, down from a peak of 7.61% on Oct. 5. Higher yields tend to push mortgage rates up.

Anthropic publicly filed its IPO registration with the SEC on Monday, planning to list on the Nasdaq under the ticker ANT after filing confidentially in June.

The filing, called an S-1, is the first detailed look at the books of the company behind Claude. Revenue hit $16.3 billion in the first six months of 2026, up from $1.2 billion a year earlier (roughly 14 times higher).

The net loss was $80.7 billion, but about $72.4 billion of that came from non-cash accounting charges tied to convertible notes (early investor money that converts into shares), not cash out the door. Anthropic held $131.7 billion in cash and short-term investments at June 30.

Goldman Sachs and Morgan Stanley lead a 22-bank syndicate, and the price range and share count are still blank.

Anthropic's last private funding round in May valued it at $965 billion, and some reports suggest an IPO could value it closer to $2 trillion.

A listing would give everyday investors a direct way to own a stake in one of the leading AI labs.

The revenue jump also eased worries that the AI boom is running out of steam: the Nasdaq rose 0.82% to 26,169 and the S&P 500 gained 0.70% to about 7,677.

One catch for new shareholders is that Anthropic will be a "controlled company," with a single special share carrying 50.1% of the voting power, so outside investors will get limited say.

What to watch:

• The offering isn't final until the SEC declares the filing effective, and the next milestone is Anthropic setting its price range, which will reveal the valuation it's targeting.

  • Reports suggest a debut could come as soon as mid-November, though timing depends on markets.

• In the meantime, the AI trade faces a test this week: the Fed decides on rates Wednesday, Microsoft and Alphabet report earnings Wednesday, and Amazon reports Thursday.

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⚠️ Disclaimer: Not financial advice. Do your research before making any trades.