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Jim Cramer Says Bears Want to ‘Derail’ Anthropic IPO as AI Valuation Fears Mount: ‘That Will Be the Straw’
CNBC commentator Jim Cramer warned that bearish investors want to undermine Anthropic’s upcoming initial public offering, suggesting the AI company’s Nasdaq debut could become a major test of sentiment toward AI valuations.
Anthropic IPO Faces Growing Market Skepticism
"I think that the goal of the bears out there is to derail the Anthropic IPO. That will be the straw…" Cramer wrote Sunday on X. His remarks reflect growing uncertainty over whether Wall Street can sustain enthusiasm for expensive AI investments.
Anthropic filed its IPO prospectus on October 26, seeking a Nasdaq listing under ANT. Revenue surged 1,368% year over year in the second quarter, while first-half sales reached $16.3 billion.
However, its reported $80.7 billion net loss included about $72.4 billion in noncash financing adjustments. Operating losses totaled $693 million. The company has not finalized its offering price or share count, according to its SEC filing.
Michael Burry Warns Against AI Valuations
"The Big Short" investor Michael Burry previously called for markets to "tank hard" to prevent Anthropic and OpenAI from going public, warning their offerings could absorb enormous amounts of investor capital.
Meanwhile, valuation expert Aswath Damodaran estimated Anthropic’s equity value at approximately $1.48 trillion. He warned that excessive pricing and restrictive shareholder voting rights could discourage investors.
Dan Ives Rejects AI Bubble Fears
Analyst Dan Ives offered a contrasting assessment, predicting strong demand for Anthropic near a $1.5 trillion valuation but cautioning against paying $2 trillion.
"This is not a top. This is not a bubble," Ives said during an interview last week.
Reuters separately reported that some investors lowered their valuation expectations as Anthropic’s sequential growth slowed and AI infrastructure financing attracted scrutiny.
The disagreement highlights the IPO’s importance as a test of investor demand, although Cramer offered no evidence that bearish investors were coordinating efforts to disrupt the listing.