Potential investors are resisting Anthropic's tentative $1.5 trillion valuation, viewing the figure as sitting at the high end of realistic expectations. While the company originally planned to start its roadshow the week of November 9, market volatility has dampened enthusiasm for new listings. Anthropic has declined to comment as sources suggest it might have to offer a steeper discount to draw needed commitments.
Key points
Investor resistance threatens to delay the company's timeline for an initial public offer…: Investor resistance threatens to delay the company's timeline for an initial public offering in November.
Market headwinds including a sharp technology selloff and geopolitical uncertainty are we…: Market headwinds including a sharp technology selloff and geopolitical uncertainty are weighing heavily on new public listings.
Concerns regarding Anthropic's history of quarterly losses and massive partner commitment…: Concerns regarding Anthropic's history of quarterly losses and massive partner commitments are driving demands for a steeper discount.
Sources checked by our analysis pipeline: 1
NEW YORK/SAN FRANCISCO, Nov 5 : Potential investors in Anthropic's highly anticipated IPO are raising doubts about whether the artificial intelligence start-up can proceed with its planned roadshow next week in time for a November listing, people familiar with investor discussions said.
Investors are pushing for a more attractive valuation to commit to the offering, with some viewing the recently discussed $1.5 trillion valuation as being at the high end of expectations, the people said.
The discussions reflect in part the impact of the sharpest technology selloff in a year and geopolitical uncertainty clouding the outlook for new offerings.
Anthropic declined to comment.
The roadshow was initially expected to kick off the week of November 9, Reuters previously reported, with pricing expected the following week.
Anthropic may need to offer a bigger discount to secure investor commitments, particularly as investors recognize the company's need to raise capital, the people said, given a record of quarterly losses and the large commitments it has made to partners in the AI buildout.
A recent market selloff has triggered mounting caution among institutional backers regarding the pricing potential for the artificial intelligence firm's public debut. Large stakeholders are now reassessing expectations that were once set at record-breaking tiers. This downward shift illustrates how broader market turbulence is directly cooling the aggressive projections previously attached to major technology offerings.
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