Anthropic's IPO is reportedly oversubscribed as Nvidia's CEO returns to work

Anthropic's IPO draws crowds

As 36Kr reported in its morning briefing, citing other outlets, demand for Anthropic's initial public offering (IPO, the first sale of a company's shares to the public) has reached several times the number of shares available. The report says large "anchor" investors, who commit big orders early, are driving much of that interest.

The company and its co-founders plan to raise up to the amount shown above through the IPO plus private placements. If completed, the briefing says, it would be the largest listing ever, bigger than SpaceX's. The target valuation is reportedly lower than some investors had hoped.

Demand is not the same as value

Oversubscribed means more people want shares than exist. It tells you about enthusiasm, not whether the price is right.

The briefing also carries a warning from Jack Selby of the venture firm Copper Sky. He said the IPO could mark a peak for the AI market, and that when early shareholders are first allowed to sell, a chain of price drops could follow. Another item says some backers are already offering their expected allocations to new buyers, who would pay an extra fee on top of the IPO price.

Huang returns, with a question mark

Citing CNBC and people familiar with the matter, the briefing says Nvidia CEO Jensen Huang walked into the company's Santa Clara headquarters and led his usual morning meeting with senior managers. He reportedly began by apologizing to employees for the recent controversy, took no questions, and turned to business. He was in the office again the next day, about a week before Nvidia's next earnings report.

The same briefing, citing the Wall Street Journal, says Nvidia's board is preparing to remove Huang and could meet as soon as the same day. The two accounts sit side by side, and the material we have does not say how they fit together or what the controversy was.

SpaceX tests life with less Nvidia

A third item, attributed to the research firm SemiAnalysis, says SpaceX plans to keep buying Nvidia's chips but redesign the server racks around them. Its in-house design is code-named Kessel. By skipping one of Nvidia's pre-built compute boards, SpaceX would choose its own suppliers for parts like circuit boards, power and cooling.

That is the kind of move previously attempted mainly by the largest cloud companies, according to the report.