Bitcoin Trades Below $80,000 as Stocks Rally on Anthropic IPO Filing
Bitcoin slips below $80,000 as stocks rally on AI news
Bitcoin traded below $80,000 on Monday, October 26, 2026, while stock markets gained ground following news of Anthropic's IPO filing. Bitcoin, the largest cryptocurrency by market value, changed hands at $79,879.69, up 0.47% at the time of reporting.
Anthropic's IPO could raise as much as $100 billion, according to the report. Separately, Meta announced a $95 billion share sale on Monday to fund its own artificial intelligence plans.
Key market details
- Bitcoin (BTC): $79,879.69, up 0.47%
- Ethereum (ETH): $2,316.04, up 0.57%
- Anthropic IPO could raise up to $100 billion
- Meta plans $95 billion share sale for AI investments
Neocloud stocks rise despite Musk's warning
Elon Musk, CEO of SpaceX, predicted over the weekend that much of the so-called neocloud sector would soon collapse. "200+ neoclouds are going to see guppy-level death and consolidation," Musk said. "Some will make it through, but not many."
Neocloud stocks fell sharply in pre-market trading following Musk's comments, but reversed course and rose during Monday's session. Gainers included CoreWeave (CRWV) up 3.5%, IREN up 4%, Hut 8 up 4.2%, and TeraWulf up 8.1%.
The report raises the question of whether Musk's comments marked a bottom for the sector, but does not confirm this as fact. SpaceX operates its own data centers and sells computing power, making it a competitor to neocloud companies.
What neocloud companies do
Neocloud companies rent out computing power for artificial intelligence workloads. They use contracts with AI labs as collateral to borrow money for large purchases of graphics processing units and data center construction.
This business model leaves the companies highly leveraged, meaning even small setbacks or higher interest rates can put their stock value at risk. Neocloud stocks had already seen steep price declines and questions about financial stability before Monday's moves.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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