Market turmoil saps enthusiasm for the buzziest IPO of the year
CNN · Allison Morrow ·
Anthropic couldn’t have picked a worse time to pull off the biggest IPO the world has ever seen.
Anthropic couldn’t have picked a worse time to pull off the biggest IPO the world has ever seen.
Thursday marked one of the sharpest sell-offs on Wall Street in years. Tech stocks bore the brunt, but almost no equities were spared as fears of an AI slowdown gripped investors and sent them rushing to safety. The Nasdaq Composite lost $2.5 trillion in value, the biggest single-day dollar-value drop in its history. Asian and European markets followed the US down on Friday.
Put simply: The vibes around AI have never been worse, and Anthropic — a company that seldom misses a chance to warn of doomsday scenarios — is trying to convince investors the future for AI has never been brighter.