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Investor Kevin O'Leary sees a potentially attractive trading opportunity in Anthropic's upcoming initial public offering, arguing that immediate liquidity could make the AI company's stock more appealing than the Space Exploration Technologies Corp. IPO allocation he previously declined.
O'Leary Prioritizes Liquidity Over Locked Allocations
"I think Anthropic could be a hot trade. With my SpaceX allocation, I was told I had to hold for 30 days, so I passed," O'Leary wrote on X. "Anthropic is a different situation: I expect it to be liquid from day one, and that changes the opportunity."
I think Anthropic could be a hot trade. With my SpaceX allocation, I was told I had to hold for 30 days, so I passed. Anthropic is a different situation: I expect it to be liquid from day one, and that changes the opportunity. pic.twitter.com/jXIVbwqrzS
— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) October 28, 2026
O'Leary previously explained why he declined his SpaceX allocation, emphasizing flexibility during volatile post-listing trading. However, Anthropic has not confirmed that every IPO allocation will permit immediate selling. Underwriters can impose restrictions, making O'Leary's liquidity expectations distinct from guaranteed offering terms.
He has also advocated investing across SpaceX, Anthropic and OpenAI, rather than selecting a single AI winner.
Anthropic's IPO Filing Reveals Explosive Growth
Anthropic filed its S-1 registration statement on Monday, targeting a Nasdaq listing under ANT without announcing an offering price or share count.
Revenue surged 1,368% year over year during the June quarter. First-half revenue reached $16.3 billion, while the company reported an $80.7 billion net loss, largely reflecting noncash convertible-note adjustments rather than operating expenses. Reuters reported on Monday that operating losses narrowed to $693 million, highlighting improving underlying economics despite substantial computing commitments.
Wedbush analyst Dan Ives expects stronger investor demand around a $1.5 trillion to $1.7 trillion valuation but cautioned against aggressive buying at $2 trillion.
Meanwhile, Reuters Breakingviews questioned Anthropic's ability to sustain growth sufficient to finance massive future computing obligations, highlighting risks that could outlast initial trading enthusiasm.
The company has also disclosed unusual AI safety and governance risks, adding another consideration for prospective shareholders.
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