anthropic

According to on-chain analyst Yu Jin, after Anthropic determined a pricing range of $70 to $78 per share (corresponding to a market capitalization of $1.26 trillion to $1.405 trillion), the largest short position on Hyperliquid for Anthropic continues to increase, with the short position value reaching $70.5 million and an unrealized profit of approximately $1.41 million.Currently, the pre-market contracts for ANT on Hyperliquid are priced at about $104, which is approximately 33% higher than the upper limit of the issuance range of $78. Yu Jin also provided two addresses suspected to be related to this short position (0xecc8..., 0x0b42...).In terms of background, Anthropic plans to issue 825 million shares at a price of $70 to $78 per share, with the financing scale estimated at about $64 billion based on the upper limit; the company previously stated that it expects to finalize the issuance price next Wednesday and begin trading next Thursday, with the IPO already receiving several times oversubscription. The pre-market price is significantly higher than the issuance range, and if the final price is set at the upper limit of the range, the pressure on the short position will continue to accumulate.

According to The Wall Street Journal, chip foundry manufacturer TSMC announced on Tuesday that its board has approved an investment arrangement totaling no more than $1 billion, targeting artificial intelligence companies Anthropic and OpenAI. Among them, TSMC will subscribe to common stock of Anthropic for no more than $500 million at the initial public offering price, and invest no more than $500 million in preferred stock of OpenAI.On the same day, TSMC's board also approved the establishment of an investment company with no more than $500 million for strategic investments in the semiconductor industry and related ecosystems, and approved a capital budget of approximately $40.927 billion. This capital budget is allocated for advanced processes, advanced packaging, mature and specialty process capacity, factory and facility infrastructure, as well as the 2027 R&D capital budget, recurring capital budget, and capitalized lease asset budget. The subscription price per share for Anthropic is determined based on its IPO issuance price, and the investment target for OpenAI is the preferred stock of OpenAI Group PBC.

Arthur Hayes is optimistic about Anthropic's initial public offering performance, stating that he is increasing his crypto risk positions and maintaining a small to medium size for quick liquidation when necessary.

According to a report by the Financial Associated Press, the computing power lease contract between Anthropic and SpaceX will not be extended beyond the second quarter of 2027. Under the contract, Anthropic has been paying SpaceX $1.25 billion per month for computing power since May of this year, and after the expansion of cooperation in December, the monthly rent will increase to $3.1 billion.SpaceX's third-quarter financial report shows that nearly one-third of the company's revenue for the quarter came from Anthropic, and it is expected that the cumulative related revenue will reach $120.5 billion by fiscal year 2029. In response to the news of Anthropic not renewing the contract, Musk stated on X that SpaceX would be happy to reclaim all computing power, but believes the reality may be quite the opposite. Currently, the market has mixed interpretations of this, with some opinions suggesting that Anthropic may have found alternative suppliers, while others view it as a signal of a slowdown in computing power expansion.

Ornn Compute Price Index data shows that the hourly rental price of NVIDIA Blackwell chips has risen from $2.75 two months ago to $4.08, an increase of 48%. In recent months, the demand for AI agents performing autonomous tasks such as programming and real estate viewing appointments has grown, prompting companies to intensify their acquisition of computing power. The OpenAI API's token usage per minute has increased from 6 billion in October last year to 15 billion in late March this year.Anthropic began limiting user token usage during peak hours from 5 PM to 11 PM Pacific Time on weekdays in late March. CoreWeave raised service prices by over 20% at the end of last year and required smaller clients to sign service contracts of at least three years, up from a previous contract term of one year. OpenAI Chief Financial Officer Sarah Friar stated that due to insufficient computing power, the company is abandoning some projects.

According to The Defiant, Buildix data shows that the exposure of Hyperliquid's perpetual contracts related to Anthropic across multiple markets has surpassed 300 million dollars.Among them, the exposure of the Trade.xyz contract reached 109.4 million dollars, which is about 30% higher than the snapshot data recorded by The Defiant on November 10.

According to market news, Anthropic's ultra-large IPO is reportedly oversubscribed by several times.

According to The Information, Anthropic has disclosed over $10 billion in new deals.

According to Bitget's official data, as of the time of publication, the total investment amount for its IPO Prime project Anthropic VIP round is $101,592,299, with 2,166 participants. The VIP round subscription will end today at 16:00 (UTC+8). VIP 1 - VIP 7 users can participate before the deadline using USDT or USDGO, with a personal investment limit of $3 million and a total investment pool limit of $1 billion.In addition, the public round subscription opened on November 10 at 16:00 and will continue until 16:00 (UTC+8) the day before the IPO, open to all users, with an investment range of $100 to $25,000. Eligible users can participate in both rounds simultaneously, with the two rounds being independently allocated. For more details, please refer to the Bitget official platform.

Jack Selby, head of the venture capital firm Copper Sky, believes that the highly anticipated large-scale IPO of Anthropic may mark the peak of the AI investment boom, and once the initial lock-up period ends, it could trigger a chain reaction of market corrections.In an interview with the media on Wednesday, Selby stated that if Anthropic's IPO performs poorly, it is likely to become a key factor in a large-scale correction in the future AI market. He questioned the notion that "AI demand is limitless" and stated that if conditions permit, he would significantly go long on Chinese AI, reasoning that Anthropic cannot claim that all of its business must rely on domestic U.S. models, leaving room for customers to arbitrage towards models from other countries.

X platform U.S. stock trader 3X Long Labubu (@labubu_trader) posted that they bought shares of Anthropic at a valuation of $18 billion during the liquidation sale of FTX's bankruptcy, jokingly thanking "the greatest angel investor" SBF.Previously, according to FT reports, underwriters for Anthropic were preparing to raise the IPO price to above the $70-$78 range, potentially increasing the valuation to over $1.5 trillion. Based on this calculation, the valuation would rise approximately 83 times from the $18 billion purchase valuation.Public information shows that 3X Long Labubu is an AI engineer in Silicon Valley, engaged in AI reasoning and training-related work, and trades AI and semiconductor U.S. stocks as a hobby, with about 77,000 followers on X. SBF's FTX and Alameda invested approximately $500 million in Anthropic in 2021, and after FTX's bankruptcy, its estate management sold this portion of shares in batches in 2024.

According to the official announcement, the Bitget IPO Prime Anthropic VIP round subscription will close today at 16:00 (UTC+8). VIP 1 - VIP 7 users can participate in the subscription using USDT or USDGO on the IPO Prime page before the deadline.The VIP round subscription period is from November 5 at 16:00 to November 11 at 16:00 (UTC+8), with an investment range of $100 to $3,000,000. The total cap for the investment pool is $1 billion, with a historical reference allocation rate of 40%-80%. The underwriting service fee is 12%, and the distribution time is 3 to 5 working days after the IPO.In addition, the public round subscription opened on November 10 at 16:00 and will continue until 16:00 (UTC+8) on the day before the IPO, open to all users, with an investment range of $100 to $25,000. Eligible users can participate in both rounds simultaneously, with independent allocations for each round.It is reported that Anthropic launched its IPO roadshow last night, planning to issue 825 million shares at a price of $70 to $78 per share. The prospectus reveals that seven companies, including Google and Nvidia, plan to participate in a total of $26 billion in concurrent private placements at the final IPO issuance price.

The new version of the "Supported Regional Policy" from the artificial intelligence company Anthropic will take effect on November 12. The new document specifies three categories of prohibited use of Claude, covering individuals, businesses, and users utilizing the model through overseas companies and third-party cloud platforms. As long as a person is in a non-supported region, they cannot use Claude; Americans using it during business trips in mainland China also violate the regulations. Even if a company is registered in the United States, if it is directly or indirectly controlled by individuals or businesses from non-supported regions, employees are similarly restricted, and it is not only those holding more than 50% of shares that will trigger this.The policy covers Claude.ai, Claude Code, Cowork, the official API, as well as Claude models provided by cloud platforms and authorized distributors. Calling the model through cloud platforms like AWS Bedrock does not mean that regional usage restrictions can be bypassed.As early as September 2025, Anthropic had already prohibited overseas companies controlled by businesses from non-supported regions like China from using Claude. This time, the policy clarifies the locations of individuals, the registration locations of businesses, and control relationships more explicitly. The official disclosure indicates that in the first half of 2026, a total of 11.4 million accounts were banned, with 398,000 appeals received, of which 42,000 successfully overturned the original decisions. The data covers various types of violations, not all of which involve regional restrictions. The system will identify risk signals from non-supported regions, unauthorized resale of Claude, and other issues, requiring relevant users to verify their identity; failure to verify will result in account suspension.

Anthropic has publicly submitted and updated its prospectus (S-1/A) to the U.S. Securities and Exchange Commission, planning to go public on Nasdaq under the stock ticker ANT, with Goldman Sachs and Morgan Stanley serving as lead underwriters. The latest amendment submitted on November 10 reveals an offering price range of $70 to $78 per share, with approximately 825 million shares of Class A common stock being offered, of which the company will issue about 801.35 million shares, existing shareholders will sell about 23.65 million shares, and underwriters will have an additional overallotment option of about 123.75 million shares. The company will also allocate approximately $26 billion of non-voting Class N shares to strategic investors such as Google, Nvidia, AMD, Broadcom, Micron, Microsoft, and TSMC, priced in line with the IPO price.The market expects pricing around November 18, with trading potentially starting on November 19. Based on approximately 1.309 billion shares post-offering, this corresponds to a valuation of about $917 billion to $1.02 trillion; accounting for options, restricted stock, and other fully diluted factors, the high-end valuation could reach about $1.4 trillion. Previously, the market anticipated a fundraising scale of about $100 billion, with a maximum valuation reaching $2 trillion, but the latest terms have narrowed.FTX-affiliated Alameda Research acquired approximately 7.84% of Anthropic for about $500 million between 2021 and 2022, corresponding to about 44.54 million shares of Series B. After FTX filed for bankruptcy protection in November 2022, the bankruptcy estate sold about 29.5 million shares in March 2024 for a total transaction amount of about $884 million, and in June sold another approximately 15 million shares, recovering about $452 million, totaling about $1.34 billion. According to the latest prospectus's fully diluted share count, the original ownership percentage has decreased to about 2.5%, corresponding to a theoretical value of about $3.11 billion to $3.47 billion based on the IPO price range.

On November 10, AI company Anthropic disclosed in its IPO roadshow video that the company believes it can achieve an adjusted operating profit margin of 35% or more in the long term, up from 15% in the third quarter of 2026, but did not provide a specific timeline for achieving this. Chief Financial Officer Krishna Rao stated that the company plans to improve its long-term cost structure by enhancing computing efficiency, increasing the proportion of directly leased chips and data centers, and expanding the share of its inference business. The ratio of computing and infrastructure expenses to revenue aims to decrease from 58% in the third quarter to 45% to 50%; the proportion of sales, marketing, and partnership expenses is expected to drop from 14% to 7% to 10%, and adjusted personnel and other operating expenses are expected to decrease from 13% to 7% to 10%.As of the end of September, there were over 11,900 enterprise customers that contributed more than $100,000 in revenue to Anthropic over the past 12 months, including over 1,900 customers contributing more than $1 million and about 250 customers contributing over $10 million. The net revenue retention rate for enterprise customers is approximately 900%, with more than half of the enterprise customers using both the Claude Platform and at least one Anthropic proprietary application. The roadshow also showcased application cases from clients such as Eli Lilly, Rakuten, Salesforce, and Walmart. The company measures computing efficiency by the ratio of revenue to computing and infrastructure expenses, which increased from 0.40 times in the first quarter of 2025 to 1.72 times in the third quarter of 2026, approximately 4.3 times higher than before, but lower than the second quarter's 2.08 times. The company stated that it used about $5 billion in short-term computing in the third quarter, with costs significantly higher than those for computing procured under multi-year agreements.In terms of actual performance, Anthropic reported third-quarter revenue of $16.956 billion, adjusted operating profit of $2.463 billion, and an adjusted operating profit margin of 15%, down from 19% in the second quarter. Under GAAP standards, the company still recorded an operating loss of $567 million in the third quarter. The adjusted metrics exclude expenses such as equity incentives and non-cash charitable donations and cannot be equated to GAAP earnings. As of the end of October, the company's annualized revenue run rate was approximately $81 billion, not the actual revenue achieved for the full year. Additionally, Anthropic disclosed long-term commitments for computing and infrastructure of about $90 billion, of which approximately $45.16 billion is expected to occur by the end of 2030, with related commitments maturing in the next 12 months amounting to about $7.07 billion. As of the end of the third quarter, the company held approximately $96 billion in cash and cash equivalents and about $36 billion in short-term investments.