CoreWeave and Anthropic are fuelling the AI craze; Technoprobe soars

(Il Sole 24 Ore Radiocor) – Tech stocks are back in the spotlight – and in a positive light – with CoreWeave’s figures and anticipation surrounding Anthropic’s IPO driving buying activity. Optimism had already been on the rise on Tuesday, thanks to the results and forecasts from the German company Infineon Technologies and indications from Taiwanese giant TSMC. In today’s trading session, the sector’s EuroStoxx index is leading the way with a 1.9 per cent rise. The whole range of shares in the sector is showing solid gains: in Milan, the star performer is Technoprobe (which gained over 6 per cent) on the day of its quarterly results, followed by Stmicroelectronics and Prysmian , both with gains reaching four points. In Frankfurt, Infineon rose by 5.8 per cent, whilst Amsterdam was buoyed by ASM International (+5.12 per cent), BE Semiconductor (+4.18 per cent) and ASML Holding (+2.8 per cent).

The market is awaiting Anthropic’s IPO (scheduled for 19 November), which is set to be a decisive test for the sector. The group behind Claude aims to place around 825 million shares within a price range of approximately $70 to $78 per share. The deal could raise up to around $64.4 billion. Furthermore, Anthropic has signed an agreement with several leading technology firms (AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC) for a private placement of shares worth $26 billion, at the same price as the IPO.

According to the updated prospectus, as highlighted by analysts at Banca Akros, as at 31 October Anthropic reported annualised revenue of approximately $81 billion, some $10 billion more than at 30 September. “The possibility therefore remains that a revenue run-rate of around 100 billion dollars could be achieved by the end of the year,” say the experts. Taking into account both the primary offering and the private placement, the total funds raised could approach $100 billion, surpassing that of the SpaceX IPO and bringing Anthropic’s valuation to around $1,400 billion on a fully diluted basis.

The Financial Times reports this morning that the valuation – depending on demand trends – could reach 1,500 billion dollars. Further cause for optimism comes from CoreWeave, one of the leading neo-cloud operators, which has revised its revenue forecasts upwards for the full financial year and expects to become profitable in the first half of 2028. “CoreWeave’s updated guidance should help to alleviate, at least in part, concerns about the financing capacity of neocloud operators,” say analysts at Banca Akros.

Finally, Technoprobe will release its results this evening after the market closes : Equita (which has a ‘buy’ rating on the stock with a target price of €44) expects third-quarter revenue to rise by 13% to €314 million, with a slowdown in the final three months of the year. EBITDA is expected to rise by 19 per cent to €163.3 million, though it is forecast to fall in the final quarter.