Backers want a lower price, the November timetable is in doubt, and executives and advisers are set to meet to review the deal...
Major institutional backers are pushing Anthropic to cut the $1.5 trillion valuation it had been targeting for its IPO, and one suggested pricing could fall closer to $1 trillion, the Wall Street Journal reported Thursday, after the Nasdaq Composite lost $2.5 trillion of market value in a single session.
Anthropic had aimed to raise up to $100 billion around the week before Thanksgiving, which would top SpaceX's June listing as the largest offering ever. According to the Journal, executives and advisers plan to meet in the coming days to review the IPO, and backers are debating whether to adjust the price range or push back the timeline. With a mountain of cash on hand, the company can afford to shrink the raise or wait.
Potential investors doubt Anthropic can complete its roadshow the week after next and still list in November, four people familiar with the discussions told Reuters. The roadshow had been expected to start the week of Nov. 9, with pricing the week after. Some now see $1.5 trillion as the high end of expectations, and Anthropic may need to offer a bigger discount because of its record of quarterly losses and its huge commitments to partners in the AI buildout. If the pressure on AI-related assets continues, the company cou
