Investors flock to Anthropic IPO but question durability of its AI lead

Institutional demand for Anthropic's $64 billion IPO is outpacing the early days of SpaceX's roadshow, Reuters reports, with the book about two times covered after Tuesday and six times by Thursday; pricing is expected next Wednesday. Investors are pressing on whether Anthropic can hold its lead as Google catches up and whether Claude can win beyond coding. One investor said the company left some questions unanswered, and banks are modeling 2028 revenue at about $270 billion to $280 billion.