# Gary Marcus urges opposition to Anthropic's up-to-$1.4 trillion IPO

> Original title: Just say no to Anthropic’s IPO

- Source: Marcus on AI
- Published: 2026-11-10T14:37:21.000Z
- Bad Influence: https://badinfluence.news/items/zpvt6hcl7onjloz9o0pnl0vej
- Original: https://garymarcus.substack.com/p/just-say-no-to-anthropics-ipo

## Summary

Gary Marcus argues against Anthropic's IPO, which reportedly targets a valuation of up to $1.4 trillion. He cites quarterly revenue growth slowing from 147% to 47%, nearly $900 billion in future liabilities, and the company's admission in its amended S-1 that losses will continue. Marcus also points to competition from lower-cost Chinese models as a factor in the slowdown.

## Why it matters

The piece ties Anthropic's IPO valuation to slowing revenue growth and large compute commitments, a counterweight to the valuation headlines for readers weighing the offering.