Asian tech stocks rallied Tuesday after Anthropic PBC filed its S-1 for a US initial public offering on Monday, and investors read the filing as fresh evidence of AI demand. South Korea’s Kospi jumped more than 4% at one point, while Tokyo’s Nikkei 225 gained around 2%.
The filing moves Anthropic closer to becoming the first publicly traded company focused primarily on developing advanced AI models. For markets, it also sets up a test: whether weeks of doubt over AI spending can give way to renewed conviction.
Kospi and Nikkei Lead the Asian Rally
Gains concentrated in chip-heavy markets. According to midday figures, the Kospi traded 3.6% higher at 5,667.99, with SK Hynix up 7% and Samsung Electronics up 4.8%. The Nikkei 225 added 2.2% to 63,542.77, as Advantest rose more than 10% and SoftBank Group climbed 7%.
The Hang Seng and Shanghai Composite slipped, and Sydney, Taipei and Manila rose while Hong Kong, Shanghai, Singapore, Wellington and Jakarta fell.
Tuesday’s jump came off a deep hole. One report noted the Kospi remains on course for a 17% decline in October.
The S-1 Shows Soaring Revenue and an $80.7 Billion Loss
The numbers cut both ways, according to an analysis of the filing. Anthropic reported first-half revenue rose about 1,300 percent year-on-year. Operating income turned positive in the second quarter of 2026, a first for the company.
Against that sits an $80.7 billion net loss for the half. Reuters reported that nearly 47% of 2025 revenue flowed through the cloud marketplaces of Amazon and Alphabet’s Google, also Anthropic’s investors and competitors.
The filing also lists risks. AFP reported that the company warned its business could suffer if the use of our AI models results in harm
, whether through malicious actors or third-party misuse, or if safeguards fail.
A Volatile Week Sets the Stage
The rebound follows a rough patch. The Nasdaq 100 fell 2.9% on Thursday after Meta Platforms raised its capital-spending guidance above operating cash flow. The Philadelphia Semiconductor Index jumped 2.8% on Monday, its biggest gain since Sept. 21, while the S&P 500 gained 0.7% and the Nasdaq 100 rose 1.1%.
Steve Sosnick of Interactive Brokers said the company has clearly rekindled the sort of enthusiasm for all things AI-related that had been missing from the market’s zeitgeist for the past few weeks,
adding that This IPO will be an important test of the market’s attitudes and appetites.
Richard Saperstein at Treasury Partners said The big focus is what these companies expect to spend on AI going forward and whether this spending can continue to be financed by cash flows, or if equity and debt issuance will be necessary,
he said.
Earnings and the Fed Decision Arrive Wednesday
Alphabet and Microsoft will report their latest quarterly results on Wednesday, with Amazon to follow on Thursday. Compared with more than 70% odds of an increase by year-end, markets are pricing roughly a 10% chance of a hike Wednesday.
Jung In Yun, chief executive officer at Fibonacci Asset Management Global, said The key question is whether this week’s results can restore confidence in the durability of AI-related demand,
Hideyuki Ishiguro, chief strategist at Nomura Asset Management, said Anthropic’s IPO filing is expected to reignite interest in the AI sector,
Whether the debut lands near the top of the $1.5–2 trillion range is not yet known. A strong showing would suggest the market still believes demand can outrun cost; a cooler one would signal the first sustained doubt about the economics on which the whole rally rests.