Copper Sky founder Jack Selby warns that Anthropic’s large IPO could mark a peak in AI deals, and that a chain reaction correction may follow after the lockup expires
Jack Selby, head of venture capital firm Copper Sky, said that Anthropic’s planned large IPO carries the risk of marking a peak in AI deals and could trigger a chain reaction market correction after the initial lockup period expires.
Bloomberg reported that Anthropic is seeking to raise up to about $100 billion through an IPO, a private placement, and potential overallotment options. Early signs showed strong demand, with reports even of an expanded scale, but Selby was skeptical. He said that if the highly watched AI company’s IPO performs far below expectations for valuation, selling pressure after the lockup ends could further amplify the correction.
Anthropic recently updated its prospectus, planning to issue about 825 million shares at $70 to $78 per share, with a fully diluted valuation of up to about $1.4 trillion, and is expected to list on Nasdaq in mid-to-late November under the ticker ANT. The company has also arranged about $26 billion in private placement financing. Selby’s comments are his personal risk assessment and do not reflect facts that have already occurred.
Original sources:
Title: Anthropic IPO Risks Causing AI Market Correction, Selby Says Publisher: Bloomberg Publication date: 2026-11-11 URL: https://www.bloomberg.com/news/articles/2026-11-11/anthropic-ipo-lockup-risks-triggering-ai-correction-selby-says Nature of source: Coverage by a mainstream financial media outlet of a venture capitalist’s views Verification: Core content obtained in this instance; corroborated with Reuters and other reports on Anthropic’s IPO size and valuation Supporting content: Supports Selby’s statement that the IPO could mark a peak in AI deals and that a chain reaction correction risk may follow after the lockup expires
ABAB AI Insight
Selby’s warning focuses on the large IPO itself potentially becoming a turning point in sentiment. If pricing or post-listing performance falls short of very high expectations, the market may reassess the sustainability of AI capital spending and valuations; the staged expiration of lockups would then gradually increase the supply of shares in circulation, amplifying potential selling pressure.
Anthropic’s complex staged lockup arrangement, under which some insiders may sell a certain portion on the first day of trading, differs from a traditional unified 180-day lockup, making the release of supply more dispersed but also ongoing. The current valuation target is lower than some earlier higher rumors, reflecting some market caution.
This view is a scenario-based risk discussion. The actual outcome will depend on IPO pricing, post-listing trading performance, subsequent financial data from AI-related companies, and the broader market’s assessment of returns from AI. It remains a forward-looking judgment.
ABAB News · Law of Cognition
A large IPO may become a window into thematic investing sentiment, but it does not in itself confirm a peak.
The expiration of lockups increases share supply and may amplify post-listing volatility.
Public risk warnings from venture capitalists are personal judgments and should be viewed separately from a company’s actual financial results and market pricing.