Jim Cramer said he'd buy Goldman Sachs after Anthropic filed for an IPO, with the bank set to earn underwriting fees. Markets rose Monday.
Jim Cramer, the CNBC host, says Goldman Sachs is a stock he would buy after Anthropic filed its IPO prospectus Monday, with the bank set to collect fees as a lead underwriter on the deal.
Goldman's fee opportunity is tied to the swelling amount of AI-related stock reaching the market. Alphabet completed an $85 billion stock sale in June, and a CNBC recap says Meta Platforms is planning a $95 billion sale.
During an IPO, underwriters purchase shares from the company going public and sell them on to investors, taking a fee on the proceeds.
Goldman Sachs and Morgan Stanley head the listing, the same pair that led SpaceX's offering. Anthropic's shares are set to be listed under ticker ANT, per the recap.
Cramer took encouragement from the fact that no customer accounted for more than 10% of revenue in the nine months ended Sept. 30.
The filing also calls out cloud spending commitments that remain due even if demand for artificial intelligence weakens.
The news drew a positive market response Monday. The Nasdaq added 1%, the S&P 500 finished up just under 1%, and chip stocks led the bounce.
Technology shares also gained support from lower oil prices and bond yields.
The Fed is expected to leave rates unchanged Wednesday, though another increase is expected in December after September's first rate hike in three years.
The reported Meta stock sale prompts a new question: will other companies with large AI budgets also pursue investor cash?
The two companies Cramer flagged as most probable were Amazon and Microsoft, both scheduled to report earnings this week. Alphabet, he said, was not likely after its June sale.
The Investing Club disclosure shows his charitable trust holds long positions in Meta, Amazon, Microsoft, Alphabet and Boeing.
Dan Niles, who founded Niles Investment Management, has urged investors to keep more cash on hand as those companies approach earnings.
An Anthropic listing would be another instance of equity markets, rather than corporate cash flow, paying for AI buildouts, following Alphabet's June sale. How much further Monday's bounce can run may hinge on whether investors take on that supply while the Fed tightens.
Share to
Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
Early iPhone Duo buyers are seeing screens crack along the fold; Apple shares dipped about 1%, and the company says only a small number of devices are affected.
Anthropic's IPO prospectus left the share price blank, but a footnote shows the board valued the stock at $71.43 as of September 30.
Asterium has introduced Apple Pay for eligible Visa and Mastercard cards, letting holders pay with iPhone and Apple Watch in stores, apps and on the web.
OpenAI priced GPT-6.1 Terra at half the previous per-token cost; Anthropic's models still top independent tests. Anthropic also filed its S-1 on the same day.