Robinhood CFO: Competing With Multiple Brokerages for Anthropic IPO Retail Allocation

November 3 — According to Bloomberg, Robinhood Chief Financial Officer Shiv Verma said in a Bloomberg Television interview that Robinhood is competing with other retail brokerages for a share allocation in Anthropic's IPO, calling the current competition "fierce." Robinhood aggregates customer subscription demand and submits it to Anthropic and the underwriting banks, with the issuer deciding the allocation. Verma said retail investors account for roughly 20% to 25% of the U.S. stock trading market, and issuers should consider allocating a larger proportion to retail. Anthropic filed its IPO application on October 26 and plans to go public before U.S. Thanksgiving.