Bloomberg Podcasts · Nov 3, 2026
With Shiv Verma, CFO of Robinhood
Robinhood has amended its own filing to get on Anthropic's IPO, and its CFO, Shiv Verma, says the AI company "will be a bellwether for the market." Shiv told Bloomberg Businessweek Daily's Carol Massar and Tim Stenovec that retail investors make up roughly a quarter of the entire equities market, which is his case for why they deserve a far bigger slice of a deal like Anthropic's than Wall Street has traditionally handed out.
"When we did our own IPO, we gave 20% to retail, which was the highest in history. That is how you get a good allocation." — Shiv Verma
Shiv runs finance at a company that just gave retail investors the largest allocation of any IPO on record, and is now lobbying issuers to do the same for themselves.
The full segment is covered here so you can skip it.
Here are the 5 takeaways that matter.
Key Takeaways
Robinhood amended its filing to join Anthropic's IPO, which Shiv calls a "bellwether for the market"
Retail investors are about 25% of the equities market, Shiv's case for bigger allocations
Deposits are up roughly 50% year over year, a signal of demand ahead of a wave of mega-IPOs
About 200,000 customers hold $250 million in Robinhood's new agentic trading accounts
Non-sports prediction markets grew to 30% of volume, up from 15% a quarter ago
1. Going Big on Anthropic
Robinhood has amended its filing to be on Anthropic's IPO, Shiv confirmed, though he said the firm cannot disclose specifics while in the quiet period.
Anthropic's IPO will be a market bellwether, Shiv says
"Anthropic will be a bellwether for the market. We amended to show Robinhood will be on the deal. We are excited to help customers get access." — Shiv Verma
Shiv argues retail deserves a large allocation on a deal of that size, pointing to how much of the market retail investors already represent.
Retail is about a quarter of the entire equities market, which Shiv uses to argue for bigger IPO allocations
"If you look at the equities market, about 25% is retail. That shows how powerful retail is." — Shiv Verma
