Anthropic pushes ahead with IPO despite AI selloff

Anthropic looked set to push ahead with its IPO this month, indicating confidence in market appetite for the AI trade despite a recent selloff and concerns over the controversy surrounding Nvidia. The frontier AI lab wants to debut late next week, The Wall Street Journal reported, with a target valuation due within days.

Separately, giant chipmaker TSMC announced a 60% jump in revenue last month compared to a year ago, suggesting persistent demand for the hardware powering an AI infrastructure boom. Yet investors have voiced caution that the AI bubble will soon pop, worried over growing opposition to data centers in the US — exemplified by last week’s midterm elections — and whether revenues will rise fast enough to justify huge expenditure.

— Prashant Rao