Anthropic is preparing for an IPO: public distrust of AI and data centers has been named the main risk.
Anthropic, one of the leaders in the field of artificial intelligence, has included a separate section on risk factors in the prospectus for its initial public offering (IPO). The company cites the growing negative public attitude toward AI development and data center construction as the key risk. This decision underscores how seriously Anthropic assesses the impact of public opinion on its future capitalization and operational activities.
According to my information, the document will be officially presented in the coming weeks. The company already filed a confidential application in June and then held a series of preliminary meetings with bankers and potential investors in San Francisco. At these meetings, Chief Financial Officer Krishna Rao answered questions about competitive pressure and business margins, especially in light of the growing threat from open-source AI models. Investors are also concerned about a potential slowdown in the pace of building new computing capacity.
Direct Dependence on Computing Resources
The issue of access to data centers is fundamental for Anthropic. The revenue of AI labs directly depends on available computing capacity. My analysis shows that Anthropic's annual revenue run rate exceeded $65 billion in July, approximately $25 billion more than OpenAI. This is an impressive figure that is fueling market expectations.
The over-the-counter market already values the company at nearly $1 trillion, but investors expect that after going public, its capitalization could reach $2 trillion. This is an ambitious goal that would allow Anthropic not only to match but also to surpass SpaceX's record for funds raised in an IPO.
Polls Show Rising Protest Sentiment
The need to disclose these risks is confirmed by fresh sociological data. According to a Gallup study conducted in March, 7 out of 10 Americans oppose placing AI data centers near their homes, with 48% of them strongly opposed.
A troubling trend is also evident in more recent polls. According to Heatmap Pro data, conducted by Embold Research on August 8–13 among 2,045 registered voters, 75% of respondents now oppose the construction of data centers. A year ago, this figure was only 42%. This is a colossal surge in public discontent.
At the same time, fear of job losses is growing. Pew Research experts found that 71% of American adults expect job cuts in the U.S. due to AI over the next 20 years—in 2024, this figure was at 64%.
Politicians are already reacting to these sentiments. Pennsylvania Governor Josh Shapiro signed an executive order tightening requirements for data center construction, and New York Governor Kathy Hochul announced a moratorium on issuing permits for new large-scale facilities.
My comment: Including "public resistance" in the IPO prospectus is not just a formality but a signal to the market about systemic risk. The AI industry is entering a phase where technological leadership ceases to be the only factor for success. The ability to work with local communities and regulators will become as important an asset as computing capacity. Investors should closely watch how Anthropic builds this strategy, since the company's ability to scale its infrastructure—and consequently grow in the long term—directly depends on it.