Robinhood CFO Says Firm Is Competing for Anthropic IPO Shares

Robinhood is competing with other retail brokerages to secure Anthropic IPO shares for customers, and Anthropic will determine the allocation of shares, CFO Shiv Verma said.

Robinhood is collecting customer requests for shares and submitting them to Anthropic and the underwriting banks, Verma said. Anthropic will decide how the shares are allocated.

Verma estimated that retail investors account for about 20% to 25% of U.S. stock trading. He said companies preparing to go public should consider allocating a larger share of IPOs to retail investors.

Anthropic submitted an IPO application Oct. 26 and plans to list before Thanksgiving. Robinhood’s effort to secure shares for customers is ongoing.