Anthropic 的 1.5 万亿美元 IPO 遇阻，投资者质疑估值
Anthropic's $1.5 trillion IPO hits resistance as investors balk at valuation
Anthropic 的 IPO 因投资者质疑 1.5 万亿美元估值而遇阻，部分潜在投资方怀疑路演能否按计划在下周启动。公司 9 月时还曾考虑最高 2 万亿美元的估值，如今有投资者提出仅 1 万亿美元的估值；投资者要求更大折扣，原因是 Anthropic 仍在亏损并为扩展 AI 基础设施持续消耗现金，同时 10 月营收数据未出现在更新后的 S-1 文件中。
投资者对 Anthropic 估值的分歧，反映出 AI 基础设施投入与盈利压力正在影响一级市场定价。
Anthropic's IPO is in trouble as investors push back on the $1.5 trillion valuation and the tech market sells off. According to Reuters, potential backers doubt the planned roadshow can kick off next week as scheduled.
As recently as September, the company was eyeing a valuation of up to $2 trillion. Now some investors think even $1.5 trillion is too rich. One investor reportedly floated a valuation of just $1 trillion. Investors want a steeper discount because Anthropic is still losing money and burning through cash to scale its AI infrastructure. They're also waiting on October revenue numbers, which are missing from the updated S-1 filing.
The midterm elections made things worse. Ballot initiatives targeting data center expansion passed in several states, triggering the sharpest tech selloff in a year. The Wall Street Journal also reports that IPO investors are skeptical. If AI stocks stay under pressure, Anthropic could delay the offering, which some estimates peg at up to $100 billion in size. A delay could further shake confidence in the broader AI sector.
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来源：The Decoder · the-decoder.com