Anthropic's IPO timing threatened by AI backlash, historic tech rout - NY Post

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. Dario Amodei, left, looks on as Speaker Mike Johnson speaks to the press at the White House in Washington, Tuesday, Sept. 29, 2026. AFP via Getty Images Anthropic, led by CEO Dario Amodei, declined to comment. The roadshow was initially expected to kick off the week of Nov. 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. Investors are also eagerly awaiting Anthropic’s October revenue figure, which the company left blank in its updated S-1 filing, to assess whether the AI lab has managed to boost growth after a slowdown in recent months, two of the people said. Wall Street and Silicon Valley were abuzz on Thursday with questions about whether the company would move forward, in the wake of the two-day AI market selloff following Tuesday’s US midterm elections. The discussions reflect in part the impact of the sharpest technology selloff in a year and geopolitical uncertainty clouding the outlook for new offerings. REUTERS A decision to delay the offering would likely fuel further concern over the health of the AI ecosystem at a time when the success of ballot efforts in many states limiting data center development has crystallized political opposition to data centers and other aspects of AI. An Anthropic delay could also pose a threat to the broader stock market, which is heavily weighted toward large technology firms whose valuations would likely be squeezed by any sense that Anthropic, one of the highest-profile AI firms, is finding it difficult to raise funds. At one point this year its IPO was expected by investors to take place in October and to seek a valuation as high as $2 trillion. Many investors remain bullish on the AI buildout, though the selling in AI-related assets has dented sentiment over the past month. Some analysts say that Anthropic, like SpaceX before it, is likely to benefit from strong retail investor demand. “It’s not like these companies are not going to be a part of the future,” said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, NJ. “They’re going to become public. Investors are still going to have a lot of interest in them. Valuations have risen for a long time in the private market, and we’ll probably see some pullback.” Even if Anthropic and its investors get together on a valuation, as Wall Street currently expects, other factors could determine whether the company chooses to move forward with the IPO by year-end. If the market for AI-related assets remains under pressure, the company could decide to delay the offering until the market looks more resilient and likely to smoothly digest an offering that is expected by some to reach $100 billion, the people familiar with investor discussions said.