MAJOR INVESTORS ARE SKEPTICAL ANTHROPIC IPO CAN ACHIEVE $1.5 TRILLION VALUATION

Summary from the TLDR newsletter

Major investors planning to participate in Anthropic's IPO, expected to launch the week before Thanksgiving, say the expected $1.5 trillion valuation will likely need to come down. The AI lab was expected to raise up to $100 billion, but is now predicted to raise around $80 billion, leaving it with a valuation closer to $1 trillion. Investors have revolted against AI bets this week as the midterm elections have put several AI skeptics in power, potentially slowing data center development in the US. Anthropic has avoided committing to specific plans for its IPO to maintain optionality.