Investors question Anthropic’s planned $1.5 trillion IPO

Potential investors are questioning whether Anthropic can proceed with its planned initial public offering roadshow next week, and some are seeking a lower valuation than the $1.5 trillion discussed for the listing. The company has not announced a change to its plans, and the offering remains unconfirmed. Four people familiar with investor discussions told Reuters that prospective buyers viewed the valuation as high and wanted more attractive terms before committing. Separately, three major investors considering the offering told the Wall Street Journal that the proposed valuation would likely need to fall; one suggested it could be closer to $1 trillion. That figure was an investor’s view, not a revised company valuation or an agreed price. The roadshow was initially expected to begin the week of November 9, with pricing anticipated the following week. The listing has been discussed for November, but the timetable could change. Reuters’ sources said a continued selloff in AI-related assets could lead Anthropic to delay until markets were more receptive. A reduction in the offering’s size has also been raised as a possibility in reporting on the investor discussions. Investors...