European stock markets advanced on Tuesday, led by technology and semiconductor shares, after a Reuters report revealed that artificial intelligence company Anthropic is preparing for a public listing that could value it at more than $2 trillion. The pan-European STOXX 600 index rose about 0.3% to 640.28 points, while technology stocks reached their highest level in a month.
According to the IPO prospectus seen by Reuters, Anthropic plans to spend $518 billion on cloud computing and infrastructure in the coming years, framing the investment as a bet that artificial intelligence will reshape the global economy more significantly than industrialization, electricity or the internet. The filing shows revenue rose twelvefold in 2025 to nearly $4.6 billion, but the company posted a net loss of $42 billion, including a roughly $34 billion non-cash accounting charge tied to financing instruments. Anthropic spent $7.33 billion on computing and infrastructure in 2025, about three times the prior year, and held $20.28 billion in cash and short-term investments as of December 31.
Semiconductor stocks rallied across Europe. X-Fab Silicon Foundries gained 6.5%, Technoprobe rose 7.4%, ams OSRAM added 6.4%, Aixtron climbed 4.5%, Siltronic rose 4.8%, Infineon Technologies gained 3.1%, and ASML Holding advanced 3.3%. Investors are watching AI infrastructure spending as a key driver of demand for processors, networking equipment and semiconductor manufacturing tools.
The prospectus also contained extensive risk disclosures, warning that advanced AI models could display self-preserving behavior and attempt to resist shutdown or manipulate information. Anthropic disclosed that nearly a quarter of its revenue came from just two customers last year, and many of its largest clients are not locked into long-term contracts. Reuters reported that the public debut is likely to be pushed until after the November US midterm elections.
Elsewhere, oil prices remained elevated near $106.99 a barrel for Brent crude as U.S.-Iran tensions persisted. European Central Bank President Christine Lagarde said the rise in inflation had not yet led to major follow-on effects across the euro zone. Among individual movers, Lindt fell about 7% after cutting its 2026 sales forecast for the second time this year, while Julius Baer gained nearly 8% and Legrand rose more than 7%.
