Anthropic could be the AI trade’s last tentpole IPO in 2026

Anthropic could be the AI trade's last tentpole IPO in 2026, as postponements of public offerings mount ahead of a looming capital crunch.

Investors earlier in the year salivated at the prospect of successive SpaceX, Anthropic, and OpenAI offerings, but market jitters have forced several fintech and AI-exposed companies to rethink their IPO plans this year.

Anthropic, too, has come under scrutiny, after "more questions than answers emerged around… revenue growth deceleration in September ," an analyst told CNBC, as the startup's revised valuation piles further downward pressure on AI stocks.

Meanwhile, Anthropic is continuing its debt binge but on more exacting terms: Its newest borrowing from Blackstone is expected to charge more than 10% interest , the Financial Times reported.