Anthropic's $1.5 trillion IPO faces investor pushback after tech selloff

Anthropic's planned $1.5 trillion initial public offering is under pressure from major investors following a sharp selloff in US technology stocks, with some calling for a lower valuation or a postponement, The Wall Street Journal reported Thursday. The AI company, developer of the Claude chatbot, aims to list the week of November 16, potentially raising up to $100 billion in what could be the largest IPO ever. Three key investors believe the valuation must be cut, with one suggesting closer to $1 trillion, amid a Nasdaq selloff that erased $2.5 trillion in market value after midterm elections strengthened skeptics of AI expansion. Anthropic's annualized revenue run rate exceeded $80 billion at the end of October, but its funding needs remain high, holding $146.6 billion in cash as of September 30. Options include reducing the raise to $80 billion or delaying, while a downsized debut could impact partners like Google and Amazon, with rival OpenAI also facing reduced funding expectations.