ARK Invest CEO and CIO Cathie Wood joins Yahoo Finance's Deirdre Bosa at Yahoo Finance's 2026 Invest conference to discuss Anthropic's (ANTH.PVT) upcoming IPO and how its S-1 raised her fund's confidence.
It's going to be a busy week next week, um looking at the Anthropic IPO. How are you thinking about, you know, this massive private company? I know you're you have holdings, um, both private and public. How are you thinking about it coming to market and your stake?
Yes, so Anthropic we own in our venture uh venture fund, ARKVX. Uh, and it's been the best ride the fund has had. We got in in early 23, right after we launched the fund. So we've been paying very close attention to it.
Uh, we were even though we've done a lot of research and had information rights to see their gross margin in the S1 up to 85% and to learn that 75% of anthropic spending is for training in AI, which does not generate revenues. Inference generates the revenue. 75%.
Um, we our our confidence shot up dramatically with it with the S1. And, you know, we actually thought they they would come to market at a $2 trillion valuation. It looks like 1.4 is closer to the mark. Uh, and so we're believe it or not, we're uh thinking it's it's a very reasonable valuation.
You think right, what do you think it's valued at um maybe a year from now? What are you guys modeling?
Well, we thought we thought that we could justify almost $2 trillion dollars. Uh, uh so I'll just leave it there. You know, it's been such a force. We do think OpenAI is gathering some momentum here, so we're watching that very carefully as well. But the demand for both of them, uh both of their uh their models is enormous.
