The 8:30 Hosts Julie Hyman, Pras Subramanian, and Jake Conley discuss Anthropic‘s (ANTH.PVT) highly anticipated IPO with Avery Marquez, director of investment strategies at Renaissance Capital, and the strong demand on listing day for the first pure-play generative AI company to go public.
Avery, I’ll I’ll come to you next here. Uh your firm does a lot of really great work on IPOs, kind of at a macro level. This IPO is gearing up to be something we’ve never really seen before probably, this kind of firm going public, kind of an untested situation for the market.
Talking about the IPO, you know, walk us through what you’re expecting to see uh on that listing day and how this IPO uh might go down, you know, maybe over those next three months following when it actually does start trading.
Yeah, um, I think right off the bat, it would be, you know, ridiculous to kind of say that there won’t be demand for this. Um I think just the nature of the business, the company itself. This is the first pure play generative AI company to come to market. Um and it’s a huge name. It’s a huge, very well-known name.
Um so I do think we’ll see a lot of demand uh at the initial listing. Um and I think what we’ll see in the three months that follow depend a lot on how it’s priced. Um if it’s priced to perfection and pricing in months, uh years of flawless execution, um, it’s going to have to deliver that. Investors are going to have to see that in the first earnings. Um they’re going to have to make money on this to want to keep putting money into it.
Um, so, yeah, at the initial listing, I think we’ll see a lot of demand. um and then beyond that, I think it’s going to depend a lot on that that valuation that they do end up targeting.
