Anthropic IPO Filing Sparks Global AI Rally, Nasdaq Rises 0.82% and Asian Markets Surge

Anthropic PBC filed its Form S-1 with the Securities and Exchange Commission on Monday, October 26, igniting a broad rally in AI-linked stocks across Wall Street and Asian markets. The filing sets the stage for what could become one of the largest stock market debuts in history, with reports placing a potential valuation as high as $2 trillion and a possible trading debut as early as November 16. Anthropic disclosed surging business growth alongside a net loss of over $80 billion in its filing, though more than $72 billion of that figure stemmed from changes in the fair value of convertible notes and derivative liabilities rather than operating expenditure.

On Wall Street, the Nasdaq Composite climbed 0.82% to close at 26,169, while the S&P 500 gained 0.70% to 7,677 and the Dow Jones Industrial Average rose 0.28% to 52,362. The session diverged from Friday's energy-driven moves as oil prices retreated and technology shares rebounded on renewed AI enthusiasm. Meta Platforms and SpaceX separately announced significant AI infrastructure funding deals, further bolstering sentiment.

The optimism carried into Asian trading on Tuesday. Japan's Nikkei 225 rose nearly 2%, led by AI-related names, with Advantest Corp. surging more than 9%. South Korea's Kospi jumped as much as 4.9%, with Samsung Electronics and SK Hynix each climbing more than 4%. The broader rally comes ahead of major big-tech earnings reports and the Federal Reserve's rate decision, events that investors expect to further test the AI trade's durability. Supply chain strains in advanced printed circuit boards, a critical component for AI servers, were flagged as a growing concern accompanying the sector's accelerating demand.