Anthropic prospectus "stimulates greed"! CoreWeave leads AI trade rebound

Anthropic filed for an IPO on Monday, and its prospectus shows that its revenue for the first half of this year reached $16.3 billion, a nearly 14-fold increase year-on-year. This figure has far exceeded some investors' previous pessimistic expectations, leading to a rapid turnaround in Wall Street sentiment.

On Tuesday, the Nasdaq Composite Index closed up 1.2%, extending Monday’s 0.8% gain. Foundational sectors such as AI cloud computing, storage, and optical interconnects all rose sharply, with stocks previously hit hard by rate concerns and macro pressures leading the gains.

On Tuesday, CoreWeave surged 8%, and Nebius Group jumped 11.2%, making them the two standout AI infrastructure stocks of the day.

The storage sector also benefited simultaneously. Western Digital rose 7%, and Seagate Technology climbed 3.7%.

Additionally, Dell closed up 7.5% on Tuesday, having already surged significantly this year due to the AI server boom. Optical interconnection stock Coherent rose 6.4%, and Lumentum 5.9%. AI interconnect chip suppliers Credo and Astera Labs soared 10.8% and 10.5%, respectively.

Anthropic’s long-term capital commitment to computing power has directly validated the demand prospects for new cloud service providers, storage, and optical connectivity infrastructure tracks. It is noteworthy that this rebound happened amid Elon Musk’s public bearish comments over the weekend—Musk predicted that the new generation of cloud service providers would face a capital crunch. He stated that over 200 new types of cloud service providers would be consolidated, and while some companies might survive, the number would not be large. The market clearly chose to vote with its feet, ignoring this warning.

“Shocking” Prospectus Data, IPO May Be Heavily Oversubscribed

InvestorPlace analyst Louis Navellier wrote in a client report that Anthropic’s S-1 prospectus “is sparking a lot of excitement.”

He pinpointed the core figure: first-half revenue of $16.3 billion, a nearly 14-fold increase year-on-year.

Although the company is still operating at a loss, Navellier believes this “shocking” revenue growth will drive the IPO to be “heavily oversubscribed”—meaning market demand for the stock will far exceed the actual offering.

Long-Term Capital Commitment Is the Real Logic Behind Infrastructure Stocks’ Surge

Tortoise Capital senior portfolio manager Rob Thummel explained the investment logic behind this rally to MarketWatch.

“Anthropic has made a significant long-term commitment to capital expenditures,” he said. As demand for computing power continues to rise, the need for infrastructure supporting these deployments will also grow in tandem—directly benefiting the new cloud service providers renting out computing power to clients.

Thummel also specifically mentioned a series of contracts Anthropic has signed to secure future computing power, saying this reflects market confidence that AI infrastructure demand “will remain strong for quite some time.”

Lazard: The Market Still Has Ample Appetite for These Assets

Lazard Asset Management portfolio manager Celine Woo told MarketWatch that although pricing and demand for the Anthropic IPO are still unclear, the prospectus itself is undoubtedly a bullish signal.

“From an investor’s perspective, the market still has ample appetite for assets with this type of business model,” she said.

Anthropic’s business model—and those of its competitors—all require enormous amounts of chips and computing power to keep running. This logic is supporting the entire AI supply chain.

Chip Giants’ Earnings Support, Big Tech Keeps Spending

Morningstar chief European equity strategist Michael Field pointed out in Monday’s report that both ASML (up 2.9%) and TSMC (up 3%) exceeded expectations due to strong demand for advanced chip technology, and gave an “optimistic outlook” for the industry’s future.

But Big Tech’s AI spending is also showing no signs of slowing. After Meta released robust quarterly results last week, it announced Monday that it plans to raise up to $95 billion through equity financing. Alphabet, Microsoft, and Amazon will each release their results later this week.