Anthropic IPO Could Revive a Slumping 2026 Market, Experts Say

The IPO market has stumbled this week with Chinese manufacturer Kepuni Holdings pulling its Nasdaq filing, Gravitics slashing its planned $50 million offering by 60%, and South Korea’s Elice Group crashing 32% on debut, the steepest decline for any company raising over $100 million there. Although SpaceX’s record $75 billion public offering in June lifted first-half proceeds to about $137 billion, recent setbacks highlight valuation concerns.

Jay Ritter, director of the University of Florida’s IPO Initiative, says companies are walking away rather than accepting lower prices. Matt Kennedy of Renaissance Capital believes a successful Anthropic IPO—potentially priced around $1.8 trillion and trading up to $2.4 trillion—could spark a broader revival. Anthropic’s draft prospectus reveals an $80.7 billion net loss for the first six months, offset by revenue growth to roughly $16.3 billion, and the firm may file as early as Friday for a possible November debut. Delays could push many issuers into 2027, but a big Anthropic deal might still boost activity into the next year.