XN plans to increase Anthropic stake ahead of Nasdaq IPO

Investment firm XN intends to purchase additional Anthropic shares around the company’s planned Nasdaq initial public offering. The move comes amid a broader sell-off in AI-linked stocks, as investors question infrastructure spending and how quickly those investments will generate returns.

Anthropic develops the Claude family of AI models, selling tools primarily to enterprise and developer customers. Its private-market valuations have drawn scrutiny over whether revenue growth can meet investor expectations. A public listing would expose those assumptions to daily market pricing and could become a benchmark for valuations across generative AI businesses.

XN’s planned purchase suggests confidence in Anthropic’s long-term prospects despite near-term volatility. However, the size of the investment, expected IPO price range and exact listing date have not been disclosed. Anthropic has not issued a detailed public statement confirming all offering terms.

The potential debut comes as concerns about capital expenditure, chip demand and monetization weigh on technology stocks. A strong listing could support sector sentiment, while a weak debut could deepen concerns about overvaluation.