Potential investors are questioning whether Anthropic can launch its planned investor roadshow next week and complete an initial public offering in November, a Reuters report carried by the New York Post on Thursday, citing four people familiar with investor discussions.
Some investors regard a recently discussed valuation of $1.5 trillion as being at the high end of expectations and want a more attractive price before committing, the people told Reuters. Anthropic declined to comment on those investor doubts.
Company filing leaves price and share count open
Anthropic announced its public registration filing on October 26, saying it intended to list Class A common stock on the Nasdaq Global Select Market under the symbol ANT. At that point, the company said the number of shares and the proposed price range had not been determined.
The company’s November 2 amended registration statement still leaves the offering price range and share count blank. Its cover says there had been no public market for the Class A shares before the proposed offering.
Reuters had previously reported that the roadshow was expected during the week of November 9, with pricing expected the following week.
Investor appetite faces a tougher test
According to Reuters, the discussions reflect the sharp technology-stock selloff and geopolitical uncertainty surrounding new offerings. The people familiar with the discussions said Anthropic might need to offer a larger discount to win commitments, given its capital needs, quarterly losses and commitments to partners involved in building AI infrastructure.
Two of the people told Reuters that investors were awaiting the company’s October revenue figure, which they said was left blank in the updated filing, as they assessed whether growth had improved following a slowdown.
Anthropic describes itself as an AI research and product company and a public benefit corporation. Its products include Claude. The proposed listing would give public investors access to a business whose funding needs are tied to the costly expansion of advanced AI systems, making the terms of the offering an important test of investor appetite.
A prospective investor should distinguish a proposed valuation from an actual available public-market share price.
Investors question timing and valuation
The potential outcomes remain open. Reuters reported that continued weakness in AI-related assets could lead the company to wait for a steadier market, even if it and investors agree on valuation.
JBizNews Desk | New York
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