Anthropic IPO meets AI backlash

Anthropic is preparing for a potentially historic Nasdaq IPO, likely targeting mid-November, with investors reportedly seeing a valuation of $1 trillion to $1.5 trillion, down from a $2 trillion target floated in recent months. The debut comes amid a tough environment: the Nasdaq suffered its steepest drop in 19 months, voters backed stricter AI regulation and opposed data center ballot measures in 40 of 41 cases, and an NBC News exit poll found more than half of voters said AI data centers were a "crucial" or "major factor" in their congressional support. Anthropic said in an amended prospectus that it has entered into purchase commitments and lease agreements with an aggregate committed spend of about $895.4 billion, substantially all related to compute and infrastructure.