Investor Doubts Put Anthropic’s November IPO Roadshow in Question
Prospective buyers are seeking a lower valuation as an AI selloff and unanswered questions about revenue weigh on the planned offering.
Key takeaways
- Potential investors question whether Anthropic can begin its roadshow next week.
- Some investors view the discussed $1.5 trillion valuation as too high.
- Anthropic’s updated filing left its October revenue figure blank.
Potential investors are questioning whether Anthropic can start its planned IPO roadshow next week and list in November, according to four people familiar with investor discussions. Some see the recently discussed $1.5 trillion valuation as too high and want a more attractive price.
The roadshow was expected to begin the week of November 9, with pricing the following week. Investors may seek a bigger discount, the people said, citing the company’s quarterly losses and large commitments to AI partners.
Buyers are also waiting for Anthropic’s October revenue figure, which was left blank in its updated S-1 filing. Two people said investors want to see whether growth has picked up after slowing in recent months.
A two-day selloff in AI assets after Tuesday’s US midterm elections has added to doubts about the timing. If pressure continues, Anthropic may delay the offering until markets look more resilient, according to people familiar with the discussions. Some expect the offering to reach $100 billion.
Rick Meckler of Cherry Lane Investments said investors would still have interest in AI companies, though valuations that rose in private markets could pull back. Anthropic declined to comment on investor doubts.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
