Anthropic’s IPO lands as the embattled AI trade looks for a much-needed bright spot

Between rising interest rates, a nationwide AI backlash, a major political shift in Washington, D.C., and the sudden ouster of Nvidia CEO Jensen Huang , the tech industry is under mounting strain. Now comes the most important tech IPO in years, and a defining event for the burgeoning but still young artificial intelligence market. With Anthropic expected to debut on the Nasdaq on Thursday, the stakes are sky-high for almost every major tech company. Advanced Micro Devices , Broadcom , Google , Micron , Microsoft , Nvidia and Taiwan Semiconductor Manufacturing Company are collectively investing $26 billion at the IPO price, which is currently expected at $70 to $78 a share.