Kamina Bashir
The biggest IPO in history, a memory-maker up 277% this year, and an Ethereum treasury closing in on 5% of supply are set to define this quarter. These 5 companies across AI and crypto carry the stories investors will follow through December.
1. Anthropic
Anthropic, the company behind Claude AI, filed to go public in the US after its last funding round was valued at $965 billion. Recently, its prospectus gave investors a look at the numbers behind the company.
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Revenue increased 12x to nearly $4.6 billion by the end of 2025
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Net loss also increased to $42 billion
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The company is committing $518 billion to computing infrastructure over the next decade.
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A quarter of its revenue comes from only two unnamed customers.
Anthropic is likely to be the biggest and most highly anticipated IPO in stock market history. However, the risks are hard to ignore. The company’s whole financial bet is based on how AI continues to develop and is perceived over the next decade.
Morgan Stanley, Goldman Sachs, JPMorgan, and Citi are working on the deal. The target valuation is around $2 trillion. At that level, Anthropic would overtake SpaceX’s $1.77 trillion June debut as the largest IPO in history.
2. Micron Technology
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The AI memory leader: Micron is the only US-based producer of high-bandwidth memory (HBM), a critical component used in AI accelerators.
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Stock momentum: Micron shares are up roughly 277% in 2026, making it one of the year’s strongest AI trades.
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Growth is still accelerating: Fiscal Q4 revenue reached a record $54.23 billion, while DRAM revenue jumped 343% to $39.8 billion.
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Key catalysts ahead: Buybacks begin on December 9, while Micron’s next earnings report is expected in mid-to-late December.
Wall Street has also become more bullish.
D.A. Davidson raised its target to $2,100, Rosenblatt moved to $1,900, and Barclays maintained a $2,000 target.
Goldman Sachs remains more cautious, raising its target to $1,250 while keeping a Hold rating. The wide range of forecasts shows that expectations are already high, making Micron’s next earnings report particularly important.
3. Nvidia
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The AI bellwether: Nvidia supplies the accelerators powering much of the AI buildout, so its results often set the tone for the wider sector.
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New record high: The stock hit an intraday record of about $237.83 on October 2 and closed at $233.95, up roughly 25% in 2026.
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Big quarter ahead: Fiscal third-quarter earnings are expected on November 17, with Nvidia guiding for about $108 billion in revenue.
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Wall Street sees more upside: Every tracked analyst rates Nvidia a Buy, with price targets ranging from $275 to $400.
