TCS, Infosys and other Indian IT stocks fell up to 3% as Anthropic prepared IPO

TCS, Infosys, Wipro, HCLTech and Tech Mahindra fell by up to 3% on Tuesday as Anthropic prepared to market shares for an IPO under the ticker ANT. The move contrasted with a rise in global AI-linked stocks, including a 3% gain in Nvidia and Micro and a 5% advance in South Korea's KOSPI index. Anthropic had not determined the number of shares to be offered.

Indian IT stocks fell as Anthropic's IPO plans emerged

TCS, Infosys, Wipro, HCLTech and Tech Mahindra were among the Indian IT stocks that fell on Tuesday. The reported moves came as Anthropic prepared to market shares after filing for an IPO under the ticker ANT.

Anthropic's IPO was reported at a potential valuation of around $1.5 trillion. The number of shares it planned to offer had not been determined.

Anthropic reported quarterly revenue of $16.8 billion

Anthropic told prospective IPO investors that its third-quarter revenue had risen 45% sequentially to $16.8 billion. The company also reported adjusted profitability for the quarter.

The IPO filing identified the ticker as ANT and described preparations to market the shares. The filing did not state how many shares Anthropic would offer.

Anthropic's 2025 loss included a $34 billion accounting charge

Anthropic’s IPO prospectus for 2025 reported a net loss of approximately $42 billion. Of this large loss, some $34 billion was an accounting charge which reflected a decrease in the estimated value of various financing instruments that could ultimately convert to shares.

The prospectus showed that Anthropic's operating loss exceeded $8 billion after liability-related write-downs were excluded. Discussions among some investors had previously placed the company's valuation around $2 trillion, but those expectations moderated after the financial disclosures and questions about revenue growth.

Nvidia, Micro, SK Hynix and Samsung rose as KOSPI gained 5%

Overnight, Nvidia and Micro closed up 3% in trading. In other markets, South Korea’s KOSPI index was up 5% for the day, with SK Hynix up more than 8% and Samsung up 5%.

The market report identified SK Hynix and Samsung as South Korean companies with exposure to artificial intelligence. The global gains stood alongside the fall in Indian IT stocks during Tuesday's trading.

Indian IT stocks had recovered ₹3.87 lakh crore in October

As the market capitalization of Indian IT stocks surged by about ₹3.87 lakh crore in October alone, following a slew of positive second quarter earnings, data from NSDL revealed that foreign portfolio investors were bullish on IT stocks, adding ₹6,463 crore to their collective holdings in IT stocks in the September quarter.

NSDL data for the same period also showed foreign investor holding in Wipro increasing from 8.85% in June to 9.46% in September while that in Infosys rose from 27.09% to 27.44% in the same period.