Josh Gilbert

I think it will be a watershed moment for markets because it gives everyday investors access to a company that's been locked away in private markets for a long, long time.

And I think a big part about what we're going to see from this IPO is genuine access for retail investors.

We don't quite know what that's going to look like yet.

But there's been rumors of about 30% allocation going towards retail.

And I think that's massive.

I think it also sets the tone for a wave of big listings coming through.

OpenAI, Anthropic coming to the fold.

And yeah, a listing of this size is just massive.

And given what we're seeing from investors, that interest in AI, this is undoubtedly going to be one of the most popular IPOs we've seen in history, given that

obviously the scale, but also what it has to offer as a business.

Yeah, I think, again, OpenAI and Anthropic, we found out today Anthropic is investing heavily or buying and working with SpaceX.

So, again, there is that sort of circular revenue base and or sort of almost cost basis, right?

Everyone buying from each other.

You've got NVIDIA investing into Anthropic, Anthropic then investing through to SpaceX, right?

But ultimately, if we weren't seeing that investment coming through, you'd be a little bit worried, right?

Because you want these companies to be investing in that future growth.

So we'd be worried if it wasn't happening.

That's one thing that we would say about that.

But I certainly think, again, I think Anthropic will probably get maybe a little bit more interest in than OpenAI just because of the sheer...

scale of interest that we've seen around Claude this year, whether that's called code, whether it's called design, you know, it's something here at eToro as a business that we've certainly started using more frequently this year.