Anthropic IPO Valuation Range Revealed, HSBC Says Its Impact May Outweigh Midterm Elections

PANews, November 6 - Investors are reportedly discussing an IPO valuation for Anthropic ranging between $1.2 trillion and $1.3 trillion. Financial blog ZeroHedge noted that Anthropic's IPO valuation continues to trend lower.

HSBC strategist Max Kettner is one of the few Wall Street strategists who turned cautious before Thursday's stock market selloff. Two weeks ago, he downgraded his equity rating from the highest level of overweight to neutral. Kettner believes that a potential IPO by Anthropic could have a more profound impact on the market than the U.S. midterm elections. He pointed out that the overall market view on the tech sector has turned negative, but this week's sharp decline in tech stocks has not broken the fundamental logic of the AI trade. He also suspects that investors had barely hedged election risk beforehand, so it remains to be seen how much market risk the election has actually eliminated. He said: "The event that could truly eliminate market risk might be Anthropic's IPO two weeks from now (if it proceeds as scheduled). The ideal scenario could be the IPO taking place as planned."