Gary Marcus explains why he wouldn't touch Anthropic's $1.4T IPO
GaryMarcus · x · 2026-11-10
Gary Marcus lays out why he'd avoid Anthropic's IPO: the company priced its offering at up to a $1.4 trillion valuation (with reports of raising up to $69.3B, after sending and retracting filing details), has never turned a profit outside one anomalous subsidized quarter, and faces nearly $900B in future commitments ($110B annually). Its own amended S-1 admits costs will keep rising, losses will continue, and revenue won't keep growing at comparable rates. Citing Ed Zitron's newsletter, he notes Q3 growth slowed as costs exploded, Ramp data shows Q4 decelerating by up to 50%, and a likely junk rating — pointing to a looming liquidity crisis for both Anthropic and the AI industry.
Related event: AI stock selloff hits Anthropic IPO expectations as valuation talk slides(7 posts)→
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