Anthropic IPO: SK Telecom's $2.65B Stake in Focus [2026]

Anthropic reportedly filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission on Monday. The news quickly drew attention in Seoul. The Korea Herald reported on October 27, 2026, that the filing has put early investments by Korean technology companies in the maker of Claude, an AI model, under the spotlight. These investments include SK Telecom's investment in 2023 and more recent commitments worth at least one trillion won each from Samsung Electronics and SK hynix.

The Anthropic IPO is expected to take place on Nasdaq under the stock ticker ANT, according to Investinglive. Reports say Goldman Sachs and Morgan Stanley are leading the offering. The company has not announced a trading date. The largest figures being discussed, including a $2 trillion company valuation and a fundraising amount above $100 billion, have not been confirmed.

This article focuses on the Korean side of the story. It looks at who owns shares in Anthropic, how much those shares may be worth on paper, how the Korean stock market reacted, and what risks investors face. For details about the company's financial information in its filing, read our earlier breakdown of the Anthropic S-1.

What Anthropic Reportedly Filed on Monday

The main reported facts are straightforward. Anthropic filed paperwork with the SEC on Monday, according to reports dated October 27, 2026. The company plans to list on Nasdaq under the ticker ANT. Goldman Sachs and Morgan Stanley are leading the offering. These are the main details reported so far. Other claims have not been confirmed.

Unconfirmed claims include a possible target date of November 16, 2026, a plan to raise more than $100 billion, and a company valuation between $1.5 trillion and $2.0 trillion. One report discussed a $2 trillion valuation as a possible outcome, not as a figure announced by Anthropic. We treat all these figures as unconfirmed until Anthropic releases its public filing or makes an official announcement.

This difference matters to Korean investors because any gains they might make depend on the final IPO price, which has not yet been set. Our article on how the offering compares with the world's biggest listings examines the debate over its possible size. Here, we focus on investors who bought shares years before the company had a stock ticker.

Which Korean Companies Hold Anthropic Stakes

The Korea Herald's reporting names several Korean business groups with investments in Anthropic: SK Telecom, Naver, LG CNS, Samsung Electronics, and SK hynix. They invested at different times, through different investment companies or arrangements, and in different amounts. The table below brings together the reported details.

The timing of these investments helps explain their different positions. SK Telecom and LG CNS invested in 2023, when Anthropic's valuation was $5 billion in SK Telecom's case. Naver invested a smaller amount through its venture investment arm in the second half of 2025. Samsung Electronics and SK hynix each invested at least one trillion won in May 2026, only about five months before the reported IPO filing. Because they invested more recently, the prices they paid may be closer to the price the public market eventually sets.

SK Telecom: From a $100 Million Investment to a $2.65 Billion Book Value

SK Telecom provides the clearest example because the Korea Herald reported figures for both its original investment and the current accounting value of its holdings. The telecom company invested $100 million in Anthropic in August 2023. By the end of June 2026, its Anthropic holdings had a book value of 3.51 trillion won ($2.65 billion), up from 1.38 trillion won at the end of 2025.

The 2023 entry point

When SK Telecom made its first investment, Anthropic was valued at $5 billion. Dividing the investment by that valuation suggests that SK Telecom initially acquired roughly 2 percent of the company. This estimate is from our calculation and does not account for later funding rounds that may have reduced its ownership percentage. We cannot calculate its current ownership because the sources we reviewed do not disclose that figure. Its original 2 percent stake was almost certainly reduced by later fundraising, but the size of that reduction is unknown.

The 2026 top-up

During the first half of 2026, SK Telecom bought another 157,189 shares for about $100 million. Dividing the investment amount by the number of shares gives an estimated price of about $636 per share. This is our calculation, not a figure reported by a news outlet. The comparison with the original investment is still useful: SK Telecom doubled the amount of money it had invested, buying more shares at a much higher price than in 2023.

Book value is an accounting estimate of what an asset is worth on a company's balance sheet. It is not cash the company has received. The rise from 1.38 trillion won to 3.51 trillion won in six months shows that SK Telecom recorded a much higher value for its Anthropic holdings. The extra shares it bought also contributed to the increase. However, this accounting value does not tell us how much investors will actually pay for the shares when Anthropic lists on the stock market.

Samsung Electronics and SK hynix: The Trillion-Won Chip Investments

The Korea Herald reported that Samsung Electronics and SK hynix each invested at least one trillion won in Anthropic in May 2026. Using the exchange rate implied by SK Telecom's figures, one trillion won equals about $755 million. This means the minimum reported investment by each chipmaker was several times larger than SK Telecom's original $100 million investment in 2023.

The chipmakers have a different reason to invest from a telecom company. SK Telecom presents itself as a partner that provides AI infrastructure. Samsung Electronics and SK hynix, by contrast, make the memory and logic chips that advanced AI companies use in large amounts. Investing in an AI company that may continue buying more computing power could help protect their businesses against changes in demand. If Anthropic raises new money through an IPO, some of that money could eventually be spent on computer hardware.

This connection helps explain why Korean stock traders reacted quickly. KED Global reported that the Kospi rose as Samsung Electronics and SK hynix shares gained on news of the Anthropic IPO plan and hopes that the investments could bring gains. Investors saw the filing as potentially good news for AI spending and for the chipmakers' financial positions.

The reports we reviewed do not give either company's exact investment amount above the reported minimum, ownership percentage, or accounting method for its stake. Until the companies release more information, at least one trillion won each is the only firm investment figure available.

Naver and LG CNS: Smaller Investments Made Earlier

According to the Korea Herald, Naver invested about 10 billion won in Anthropic through Naver Ventures in the second half of 2025. At the exchange rate implied by SK Telecom's figures, that is about $7.6 million, much less than the chipmakers' investments in May 2026. Naver made the investment through its venture investment arm rather than directly through the parent company's balance sheet. This may suggest that Naver viewed the investment as a way to gain financial returns and keep open future business opportunities, rather than as a central strategic partnership.

LG CNS invested in Anthropic through LG Technology Ventures in 2023, the same year SK Telecom first invested. The reports we reviewed do not disclose how much LG CNS invested, so we cannot give an estimate. However, its investment came early, well before the rise in reported valuations during 2026. If any Korean investor bought shares at a low price compared with the eventual IPO price, LG CNS could be among them.

The two investments show a pattern worth watching. Korean companies' venture investment arms bought stakes in a foreign AI company early, and the wider market is only now paying close attention. Analysts are likely to ask both companies how much of Anthropic they own and whether they plan to sell any shares.

Confirmed and Unconfirmed: Understanding the IPO Figures

News about large IPOs can blur the difference between reported information and confirmed facts. The table below separates details supported by reports from figures that remain unconfirmed or have been presented only as possibilities.

The $2 trillion valuation needs particular care. It has been discussed as a possible scenario, but even an unconfirmed possibility can move stock prices. Korean shares reacted to the idea before the banks leading the IPO had announced an official price range. Investors tracking Korean companies with Anthropic stakes should keep reported facts separate from market speculation.

How Korean Markets Reacted on October 27

The market reaction came within hours of the news. Aju Press published a headline saying the KOSPI rose more than 4 percent following Anthropic's IPO filing. MoneyToday reported that the KOSPI moved sharply around the 5,700 level as hopes for an Anthropic IPO pushed chip stocks higher. These reports describe different parts of the same market movement: a strong jump earlier in the day, followed by unstable trading.

The market was already changing quickly before the filing. Our earlier report on how the Kospi opened lower as chip stocks moved in different directions shows how quickly investor confidence in these companies can change. The Anthropic filing did not remove that instability. Instead, it added another reason for a market that already reacts strongly to AI news to move up or down.

Three companies stand out among the potential winners. Samsung Electronics and SK hynix have direct exposure through their May 2026 investments and indirect exposure through demand for their hardware. SK Telecom has the largest disclosed Anthropic holding. All three shares rose as investors considered both types of potential benefit. Whether those gains last after some investors sell shares to take profits is a separate question.

What Company Leaders Have Said

Statements from SK Telecom help explain how the company views its investment. In an article dated June 10, 2026, the English edition of Chosun quoted CEO Jung Jai-hun explaining why the company made a second investment after its original purchase.

As an early investor, we were given the opportunity to participate in the follow-up investment.

Jung Jai-hun, CEO, SK Telecom, via Chosun's English edition (June 10, 2026)

This statement indicates that SK Telecom was invited to invest again because it had invested early. It was not simply buying shares on the open market. Jung also answered a key question for shareholders: whether SK Telecom planned to sell its investment if Anthropic went public.

We judged that continuing the investment would be beneficial, as our plan is to maintain a cooperative relationship rather than focus on profits from Anthropic's potential initial public offering (IPO) success.

Jung Jai-hun, CEO, SK Telecom, via Chosun's English edition (June 10, 2026)

Currently, SK Telecom has no financial difficulties, and since there are areas where we can continue to collaborate with Anthropic, we have no immediate plans to sell our stake.

Jung Jai-hun, CEO, SK Telecom, via Chosun's English edition (June 10, 2026)

Together, Jung's statements present the investment as a way to support a business partnership rather than a short-term trade. The Korea Herald's IPO coverage also reports that SK Telecom intends to keep its stake. A company spokesperson explained the company's broader goal as well.

We will continue to strengthen our role in the global AI ecosystem as an AI infrastructure company through our partnership with Anthropic.

SK Telecom company spokesperson, via the Korea Herald

All four statements focus on working together and providing infrastructure, rather than on when SK Telecom might sell its shares. The company could change its position if the share price moves enough, but its public position for now is that it plans to keep the investment.

Comparing Four Korean Investment Strategies

Korean companies have taken different approaches to investing in Anthropic. Comparing these approaches helps explain what each company may be trying to achieve, based on the available facts and our interpretation of them.

SK Telecom, the strategic partner. SK Telecom invested early, added more shares in 2026, and says it plans to keep its investment. The stake is large enough to affect the value of the company's assets. It offers significant potential gains, but also creates a concentration risk because one investment now has a book value of 3.51 trillion won.

Samsung Electronics and SK hynix, the companies protecting their supply chains. Each invested at least one trillion won in May 2026, relatively late in Anthropic's development. Their investments give them exposure to a major group of customers. If Anthropic continues to need more computing power, the chipmakers could benefit through their main businesses regardless of the IPO price.

Naver, the investor exploring new opportunities. Naver invested about 10 billion won through Naver Ventures in the second half of 2025. Its investment is small compared with those of the other companies. It fits a strategy of investing in a range of businesses rather than building a large direct partnership.

LG CNS, the early investor with few disclosed details. LG CNS invested through LG Technology Ventures in 2023. The amount has not been disclosed, making the investment difficult to assess. However, the timing places LG CNS among the earliest Korean investors in Anthropic.

Anthropic's cloud partnerships provide more context. Our report on how Anthropic earns a large share of its sales through three cloud marketplaces explains that the company already depends on several major infrastructure partners. Korean telecom companies and chipmakers operate further back in this supply chain, providing money and components rather than acting as the main cloud platforms.

From Investments in 2023 to a Nasdaq Ticker

The timeline of Korean investments tells a clear story. In 2023, SK Telecom and LG CNS invested while Anthropic had a valuation of $5 billion in SK Telecom's case. Naver followed with an investment through its venture arm in the second half of 2025. By the end of 2025, SK Telecom's Anthropic holdings had an accounting value of 1.38 trillion won. In the first half of 2026, SK Telecom bought more shares. In May 2026, Samsung Electronics and SK hynix each committed at least one trillion won. The reported IPO filing followed in late October 2026.

As this sequence shows, the reported investments became larger as Anthropic's perceived value grew. The early investments were smaller, while later ones were much larger. This is a common pattern when a private company becomes popular with investors: each new funding round may set a higher price than the previous one. The risk comes at the end of this process. Investors who paid the highest prices most recently may have less protection if the IPO price is lower than the valuations used for private investments.

The range of Korean companies involved is also notable. A telecom company, two chipmakers, a search and technology platform company, and an IT services business all appear on the reported shareholder list of the same foreign AI company. This is a wider mix of industries than a bet focused on just one sector.

What the IPO Could Mean for Investors and AI Infrastructure

For individual investors in Korea, the filing creates a new way to invest indirectly in Anthropic. Buying shares in SK Telecom, Samsung Electronics, or SK hynix also gives investors some exposure to the AI company's potential value, alongside each Korean company's main business. This could make the Korean shares more sensitive to Anthropic's IPO price, its first day of trading, and any delay. A postponement could push these Korean stocks down just as a successful listing might help them rise.

For the AI industry, a Nasdaq listing by a leading AI company would give investors a public market price for a standalone company developing advanced AI models. Analysts could use that price to compare Anthropic with other AI businesses. Korean chipmakers could also gain a better idea of how much money the sector can raise to pay for computing power.

There are risks, too. The unconfirmed valuation and fundraising figures could change substantially before the final price is set. No IPO date has been announced. The rise in Korean stocks on October 27 reflected investor hopes, not a completed public offering document. Investors should read the actual public filing rather than rely only on summaries, including this article.

Five Predictions for the Coming Weeks

These are our own forecasts based on the information above. They are not statements from named sources and should be treated as informed opinions, not confirmed facts.

• SK Telecom will keep its shares through any lockup period. Its CEO has described the investment as part of a business partnership, and the company says it has no immediate plans to sell. We expect it to maintain this position for at least the first few months after the IPO.
• Korean chip stocks will remain volatile. The price swings on October 27 suggest that reports about IPO pricing or delays could move Samsung Electronics and SK hynix shares. Further sharp moves are possible whenever major news appears.
• Pressure will grow on Samsung Electronics, SK hynix, and LG CNS to disclose more. Analysts will want to know the exact size of their investments and how they account for them. The companies may face more questions in their next earnings updates.
• The debate over Anthropic's valuation will become more specific before pricing. The reported range of $1.5 trillion to $2.0 trillion and the $2 trillion scenario will likely be replaced by an official price range once the banks leading the offering publish one.
• More Korean companies may reveal Anthropic investments. Other Korean investment funds and corporate venture arms may disclose their holdings now that the IPO has drawn attention. This could expand the list beyond the four business groups identified in current reports.

Why the Competition Between Claude Models Matters

An IPO's strength depends in part on the product behind the company. Anthropic's current lineup belongs to the Claude 5.5 generation. Our comparison of GPT-6.1 Sol, Sonnet 5.5, and Gemini 4 Argon shows how many competitors are working in this field. Korean investors are betting that Claude will remain one of the leading AI model families.

This bet links the telecom company, chipmakers, and venture investment arms. Each wants the use of AI models to grow because greater use can increase demand for computing power, create more partnership revenue, and potentially support a higher share price. If a competing model becomes the leader, the reported value of the Korean companies' investments could come under pressure, regardless of when the IPO happens. Readers following the wider industry can find more information in our AI and machine learning coverage.

Frequently Asked Questions

Did Anthropic file for an IPO?
Yes, according to reports dated October 27, 2026. Anthropic reportedly filed with the U.S. Securities and Exchange Commission on Monday.

Which stock exchange and ticker will Anthropic use?
Reports say the company plans to list on Nasdaq under the ticker ANT. Goldman Sachs and Morgan Stanley are reportedly leading the offering.

How much did SK Telecom invest in Anthropic?
The Korea Herald reported that SK Telecom invested $100 million in August 2023, when Anthropic was valued at $5 billion. The company then bought another 157,189 shares for about $100 million in the first half of 2026.

How much are SK Telecom's Anthropic holdings worth?
At the end of June 2026, their book value was 3.51 trillion won ($2.65 billion), up from 1.38 trillion won at the end of 2025. Book value is an accounting estimate, not a market price or cash received.

Will SK Telecom sell its shares after the IPO?
The company has said it intends to keep its investment. CEO Jung Jai-hun told Chosun's English edition that SK Telecom has no immediate plans to sell its shares.

Which other Korean companies invested in Anthropic?
Naver invested about 10 billion won through Naver Ventures in the second half of 2025. LG CNS invested through LG Technology Ventures in 2023. Reports say Samsung Electronics and SK hynix each invested at least one trillion won in May 2026.

What will Anthropic be worth when it goes public?
The valuation has not been confirmed. A $2 trillion figure has been discussed as a possible scenario, and one report gave a range of $1.5 trillion to $2.0 trillion. Anthropic has not confirmed either figure.

When will Anthropic shares begin trading?
No trading date has been announced. A possible target date of November 16, 2026, and a fundraising amount above $100 billion have been reported, but both remain unconfirmed.