Dan Ives names five AI stocks to watch as Anthropic files for IPO

Anthropic confidentially submitted a draft S-1 registration statement to the Securities and Exchange Commission on June 1, 2026, listing a $965 billion valuation. The filing shows a revenue run rate that increased from about $10 billion to roughly $47 billion over the past year.

The confidential registration starts the SEC review process before the company can publicly market shares to institutional investors. Once the agency completes its review, Anthropic may begin a roadshow and set a pricing timetable for an initial public offering.

Dan Ives, Wedbush’s Global Head of Tech Research, identified five public companies he expects will be affected by continued AI investment and infrastructure spending: NVIDIA, AMD, Micron Technology, Microsoft and Oracle.

Ives described NVIDIA as the “Godfather of AI” and estimated that “every dollar spent on an NVIDIA chip generates an $8 to $10 multiplier across the rest of the tech sector.” He noted NVIDIA drew attention at Computex for a new RTX Spark chip designed to bring expanded AI capabilities to laptops and desktop computers.

He listed AMD for its role in accelerated computing for data centers and cloud platforms and identified the company as a core supplier for server and infrastructure upgrades to support AI workloads.

Ives pointed to Micron for its exposure to memory demand, describing the market as undergoing a “memory supercycle” driven by need for DRAM and high-bandwidth memory in AI servers.

On the hyperscaler side, Ives highlighted Microsoft for Azure’s integration with enterprise customers and for Microsoft’s distribution channels for AI applications, which connect infrastructure spending with software monetization.

Oracle was noted for an expanding cloud infrastructure footprint and a growing base of AI workloads that analysts have cited when revising forecasts and allocations for institutional deployments.

Market participants will watch two dynamics tied to the filing. Anthropic’s IPO pricing and the level of investor demand are likely to affect valuation expectations for other private AI firms considering public listings. Separately, changes in capital expenditure guidance at the large cloud providers will signal demand for chips, memory and cloud services tied to AI projects through 2027.

After SEC review concludes, Anthropic can proceed with formal pitches to institutional investors and set a timetable for pricing. The results of that process will provide information about investor appetite for large, AI-focused IPOs and potential effects on public suppliers and cloud operators.