Exclusive-Investors flock to Anthropic IPO but question durability of AI lead

Investors are flocking to Anthropic's IPO, but concerns are growing about the long-term sustainability of the company's AI lead, according to two sources familiar with the offering. The roadshow for Anthropic's $64 billion deal is set to conclude next Wednesday, with investors closely monitoring demand. The IPO has already seen two times the share orders by the end of the first day and six times oversubscribed by the end of Thursday.

In contrast, SpaceX's IPO was two times oversubscribed after its second day of roadshow. While modest for many high-profile IPOs, the demand is seen as impressive given the size of the offering. Analysts anticipate the order book will grow as the roadshow continues, reflecting strong initial interest.