Anthropic Advances IPO Plans as Alphabet Seeks $80 Billion Equity Raise Amid Surging AI Memory Stock Valuations
Anthropic took a major step toward going public on Monday while Alphabet announced plans to raise $80 billion in equity, including $10 billion from Berkshire Hathaway, to fund AI infrastructure.
pymnts.comAnthropic took a major step toward going public on Monday. SpaceX filed for an IPO in May and is slated to start trading on the stock market this month. Rival OpenAI is also expected to file for an IPO.
Alphabet announced its intent to raise $80 billion in equity on Monday, with $10 billion coming from Berkshire Hathaway, to fund the buildout of AI infrastructure. The plan underscores the tailwinds for companies in the supply chain for data centers. SanDisk is up more than 600% year-to-date and more than 4,500% across the past 12 months.
SanDisk spun off from Western Digital in February 2025. The stock closed at $1,761 on Monday, up 27% since Citi raised its price target from $1,300 to $2,025 on May 19.
The company surpassed $1 trillion in market value last week after being worth just over $100 billion one year ago. Micron’s market value doubled from $500 billion to $1 trillion in less than 50 trading days, compared with nearly 500 trading days for Nvidia to achieve the same doubling.
UBS raised its price target for Micron from $535 to $1,625 on May 26, after which shares surged 19%, the best day since 2008.
Seagate Technology and Western Digital have both soared more than 200% this year. Barclays raised its price target for Western Digital from $450 to $620.
SK Hynix surpassed $1 trillion in market value, while Samsung Electronics achieved the same milestone earlier in May. The S&P 500 is up 11% so far this year. Roundhill launched an exchange-traded fund focused on memory stocks with the ticker DRAM in April.
The DRAM ETF rose 61% in May. Micron was the second-most traded stock after Nvidia on Interactive Brokers in the five trading sessions leading up to May 26, while SanDisk was sixth. “Certain pockets of the supply chain are seeing some significant bottlenecks,” Angelo Zino, tech analyst at CFRA Research, said.
Stellar earnings have justified the soaring rally, Zino said. Valuations remain relatively cheap, Thummel said.
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