Anthropic IPO Targets $3.5B Japan Sale as OpenAI Signs Four Abu Dhabi Deals

• Anthropic plans to sell up to $3.5 billion in shares to Japanese investors, with its overall IPO valuation still unconfirmed
• Jim Cramer says bearish investors want to derail the Anthropic IPO, adding to the debate over AI valuations
• OpenAI signed four Abu Dhabi agreements covering energy, government, investment and wider AI adoption

Anthropic wants Japanese investors to help finance its next stage of growth. The planned share sale brings the Anthropic IPO closer to a test of how much buyers will actually pay. Jim Cramer says market bears want to derail the listing, while rival OpenAI is expanding its business in Abu Dhabi. For anyone considering Anthropic stock, the question is how much of AI’s promised growth will already be reflected in the offer price.

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Anthropic IPO Seeks Japanese Buyers With Valuation Still Open

A Japanese filing released November 2 outlines a sale of up to 552.9 billion yen, approximately $3.5 billion. The proceeds would support working capital, operating expenses, and capital investment. The amount covers the Japanese offering, not the entire IPO.

The filing leaves the overall deal size and Anthropic valuation unspecified. Some investors have discussed roughly $1.5 trillion. That remains an indication of expectations rather than an agreed offering valuation.

Japan has already provided substantial funding for a major US listing this year. Its investors bought $2.2 billion of shares in SpaceX’s June IPO. Anthropic’s proposed Japanese sale would be about 59% larger, although the money has yet to be raised.

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Jim Cramer Takes Aim at the Bears

On November 1, Cramer wrote on X that he believed bearish investors wanted to derail Anthropic’s offering. His remarks capture the argument surrounding the listing. They offer no evidence of a coordinated attempt to disrupt it. Investors still need the final price and offering terms to assess what they would receive for their money.

OpenAI UAE Deals Extend Its Commercial Reach

OpenAI signed four agreements with Abu Dhabi entities on November 2, according to the Abu Dhabi Media Office. The partners include ADNOC, Mubadala, and G42 subsidiary Inception42.

The agreements cover energy operations, government compliance, investment analysis, and wider adoption across businesses and education. One partnership runs for five years. The official announcement disclosed no financial values.

There is an existing customer relationship behind the energy agreement. ADNOC says it has rolled out ChatGPT Enterprise to more than 40,000 employees, with adoption exceeding 97%.

Those figures show the scale of deployment, but reveal little about profitability for OpenAI. The same distinction matters for prospective Anthropic shareholders. Customer adoption helps establish a market; the offer price will determine how much future success buyers are paying for.

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