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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.

China's largest flash memory manufacturer Yangtze Memory Technologies last week reported the possibility of delaying its listing, but according to reports, the company is still advancing its initial public offering plan, aiming to be listed on the Shanghai Star Market as early as the first quarter of next year.Bloomberg reported on Wednesday (November 11) citing informed sources that the Wuhan-based Yangtze Memory Technologies is still pushing forward with its listing plan, striving for a listing on the Shanghai Stock Exchange Star Market as early as the first quarter of 2027. Reuters reported on November 4, citing internal memos and informed sources, that Yangtze Memory Technologies' listing plan might be delayed by several months, with expectations for a listing in the first half of next year, depending on market conditions. Bloomberg's latest report indicates that relevant work is still ongoing.Yangtze Memory Technologies entered the next stage of the listing review in September this year, planning to raise 33 billion yuan (approximately 6.3 billion Singapore dollars). The Shanghai Stock Exchange issued the first round of review inquiries to the company in early September, officially launching the listing review process.

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

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.

Spider Digital Technology Ltd., a cryptocurrency mining pool operator headquartered in Singapore, announced that it has signed a definitive business combination agreement with Starlink AI Acquisition Corporation, a blank check company listed on the New York Stock Exchange (stock ticker OTAI), on October 30, 2026. The agreement sets the valuation of Spider Digital at $250 million to determine the merger consideration. Upon completion of the transaction, Spider Digital and Starlink AI will become wholly-owned subsidiaries of Spider Digital Technology Group, which is expected to go public in the United States after meeting applicable listing requirements and obtaining approval.According to the agreement, PubCo's wholly-owned subsidiary Merger Sub I will merge with Spider Digital, after which Merger Sub II will merge with Starlink AI, and both companies will continue to exist after their respective mergers. The completion of the transaction is subject to approval by both parties' shareholders, the effectiveness of PubCo's F-4 registration statement, approval for listing on the New York Stock Exchange, and other customary closing conditions. Spider Digital claims that it operates its own mining pool system and has independent block production capabilities, without sharing pool control or hash power scheduling rights with third parties. The company's founder, chairman, and CEO Chen Hua, along with Starlink AI's chairman and CEO Gus Liu, both commented on the proposed merger.

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.

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.

Artificial intelligence company Anthropic disclosed in its newly submitted S-1 filing that the seven co-founders plan to sell 3,378,378 shares each in the IPO. The preliminary price range for this IPO is set at $70 to $78 per share, which means that at the midpoint price of $74, each person will receive just under $250 million; based on the lower and upper limits of the range, each person will receive slightly more than $236 million and slightly less than $264 million, respectively. The company's IPO valuation could reach $14 billion.The seven co-founders include CEO Dario Amodei, President and Chairwoman Daniela Amodei, Chief Computing Officer Tom Brown, Head of Public Interest Jack Clark, Chief Science Officer Jared Kaplan, Chief Architect Sam McCandlish, and Head of Explainability Research Christopher Olah. After the sale is completed, each will hold approximately 3.2% of the Class A shares outstanding, totaling about 22%; each will also receive one share of Class F stock with super voting rights, giving the seven a combined control of 51.1% of the voting power.

According to Bloomberg, some investors in Anthropic have introduced expected shares to new buyers before the IPO pricing. The brokerage firm JonesTrading is representing investors expected to receive a large allocation of shares worth up to $500 million, planning to charge an additional fee of 3% to 5% based on the final IPO issue price.Insiders say that these shares are not subject to lock-up agreements, but buyers must simultaneously obtain approval from both the seller and a bank participating in the IPO. Bloomberg points out that such arrangements allow investment institutions to reduce the risk of certain allocation positions while expanding their own investor base. Jon Jefferies, head of private markets at JonesTrading, did not comment on specific transactions but mentioned that he first saw such arrangements during the SpaceX IPO, and there are currently several similar transactions related to Anthropic being pitched in the market.Additionally, another seller is promoting over $1 billion worth of existing shares in Anthropic through a special purpose vehicle (SPV), with a valuation corresponding to $14 trillion to $16 trillion for the company, and also charging fees. Insiders say that the SPV has a single-layer structure and directly holds Anthropic shares, with the transaction involving issued shares and not relying on the seller's allocation in the IPO. Anthropic's IPO seeks a fully diluted valuation of about $14 trillion, and the company along with some investors aims to raise up to $90.4 billion through the IPO and private placements combined; if this scale is reached, it will exceed SpaceX's base issuance scale of $75 billion. An Anthropic spokesperson did not immediately respond to a request for comment.

According to Yahoo Finance, Anthropic's CEO Dario Amodei stated in the company's IPO roadshow video that diseases such as cancer, Alzheimer's disease, heart disease, and mental illness will be a thing of the past in less than a decade.Amodei mentioned that companies that can manage risks well will also gain societal trust and a "license to operate," being seen as capable of bringing the benefits of AI in the right way; if done correctly, humanity could usher in a "miracle era" that solves problems that have plagued us for thousands of years.He also stated that while releasing technological dividends and maintaining a sustainable business model, all risks associated with the technology potentially going wrong must be taken seriously.

According to the Daily Telegraph, the UK AI data center company Nscale is considering postponing its $35 billion (approximately £26 billion) listing plan until next year. Last week, global tech stocks faced a sell-off, with the US stock market losing $3 trillion in value, raising concerns that the Democratic "blue wave" after the US midterm elections could slow down data center construction, leading to a collective decline in valuations of highly leveraged AI companies.Nscale originally planned to go public "soon" in New York. According to US stock market rules, if the company does not release a new quarterly financial report soon, it has only a few days left to initiate trading; insiders say no decision has been made yet, and the company is expected to announce its third-quarter financial report shortly.Nscale submitted its application to list on the New York Stock Exchange in September this year, hoping to achieve a valuation of up to $35 billion, but some investors believe it may be less than half of that figure based on current market conditions; earlier this year, a round of financing valued it at $14.6 billion.The listing plan has faced setbacks: Microsoft withdrew last month from a deal to lease its flagship data center in Loughton, Essex, and rejected space in other parts of the company’s facilities; delays in grid connection could push the UK site back to the next decade.Nscale's investors include Nvidia (which was expected to reinvest $1 billion this month), and its board includes former UK Deputy Prime Minister Nick Clegg, who is expected to gain up to $40 million from the listing, while CEO Josh Payne could receive $350 million. The company's contracts with clients such as Microsoft and Anthropic are worth over $100 billion, but they largely depend on the completion of new data centers; the company declined to comment.

Kraken's official Chinese account posted content that simply says "Anthropic." along with a countdown symbol, which is suspected to hint at the upcoming IPO subscription or tokenized stock related to Anthropic. Currently, Kraken has not disclosed specific details.Previously, Kraken's tokenized stock platform xStocks has launched IPO subscriptions for SpaceX, Bending Spoons, Jersey Mike's, and others, allowing users to subscribe in advance at the same price as institutions through Kraken.

According to market news, sources revealed that Anthropic's initial public offering (IPO) has received full subscription, with subscription orders covering all available shares.