Anthropic, Micron and BitMine Set a Busy Q4 for Investors
Anthropic’s possible mega-IPO and BitMine’s growing ETH position put AI and crypto in the spotlight in Q4, alongside results from Micron and Nvidia.
Key Takeaways
- Anthropic has filed for an IPO in the U.S. and could become the biggest IPO ever with a possible valuation of $2 trillion.
- Micron and Nvidia remain strong AI stocks, with record revenue at Micron and a new share price record for Nvidia.
- Blockchain.com is aiming for an IPO in 2026, while BitMine has become the world’s largest Ethereum treasury.
The fourth quarter of 2026 is shaping up to be a mix of AI and crypto for investors. Anthropic, Micron, Nvidia, Blockchain.com and BitMine Immersion Technologies are on the radar. Anthropic’s possible IPO stands out the most, while BitMine is drawing attention as a major Ethereum treasury player.
Anthropic Sets the Tone
Anthropic, the company behind Claude AI, has filed for an IPO in the U.S. The company was valued at $965 billion (€860 billion) in its latest funding round and, according to the market, is aiming for a valuation of about $2 trillion (€1.8 trillion). That would make it the biggest IPO ever, bigger than SpaceX’s IPO in June.
The numbers show why interest is high, but also why the risks are not small. Revenue rose to nearly $4.6 billion (€4.1 billion) by the end of 2025, while net losses climbed to $42 billion (€37.4 billion). Anthropic also says it wants to invest $518 billion (€461 billion) in computing infrastructure over the next ten years. In its prospectus, the company also warns about the risks of advanced AI, including systems that show unexpected behavior or are hard to shut down.
Morgan Stanley, Goldman Sachs, JPMorgan and Citi are working on the deal. For European readers, this matters because a mega-deal like this shows how much capital is still flowing into AI, while the bar for profitability and risk management keeps getting higher at the same time.
Micron and Nvidia Stay Strong
Micron Technology remains one of the strongest AI stocks this year. The stock is up about 277% in 2026. Revenue in the fiscal fourth quarter hit a record $54.23 billion (€48.3 billion), while DRAM revenue jumped 343% to $39.8 billion (€35.5 billion). That fits with strong demand for AI memory, a market where shortages could, according to industry players, last until 2027 or later.
Nvidia also remains central to the AI story. The stock hit an intraday record of about $237.83 (€212) on October 2 and closed at $233.95 (€208). Investors are now looking ahead to earnings on November 17, while the company itself is guiding for about $108 billion (€96.2 billion) in revenue for the fiscal third quarter.
Blockchain.com and BitMine
On the crypto side, Blockchain.com is one of the names to watch. The crypto company filed a confidential S-1 in May and is aiming for an IPO before the end of 2026. Bloomberg previously reported that the company wants to raise about $500 million (€445 million) at a valuation of $4 billion (€3.6 billion) to $6 billion (€5.3 billion), well below the $14 billion (€12.5 billion) it reached in 2022. The company is also trying to broaden its appeal by giving users access to tokenized U.S. stocks.
BitMine Immersion Technologies has meanwhile grown into the world’s largest Ethereum treasury. The company has been buying ETH weekly since June 30, 2025, and held more than 6 million ETH on September 27, equal to about 4.9% of supply. About 84% of that is staked, with projected annual staking revenue of around $358 million (€319 million). BitMine still needs about 100,000 ETH to reach the 5% mark, a goal Tom Lee says could be reached before the end of the year. That makes developments around ETH especially relevant for investors watching treasury companies and their funding model.
The broader Ethereum market is also still moving. Less supply on exchanges and rising fees show that the underlying market structure can still shift quickly, which matters for firms holding large ETH positions.
