Anthropic faces investor pushback over planned $1.5 trillion IPO

Anthropic’s planned initial public offering is facing resistance from potential investors, who question whether the company can justify a $1.5 trillion valuation. Reuters reports that backers are uncertain whether the scheduled roadshow can begin next week. In September, Anthropic was considering a valuation of as much as $2 trillion, while one investor has reportedly suggested $1 trillion instead.

Investors are seeking a larger discount because Anthropic continues to lose money and spend heavily on expanding its AI infrastructure. They are also waiting for the company’s October revenue figures, which were not included in its updated S-1 filing.

Market conditions deteriorated after midterm-election ballot initiatives aimed at data-center expansion passed in several states. The resulting technology selloff was described as the sharpest in a year. The Wall Street Journal also reported skepticism among IPO investors. If pressure on AI stocks persists, Anthropic could postpone the offering, which some estimates value at up to $100 billion. Such a delay could weaken confidence across the wider AI sector.