Sandisk, AMD Stocks Fall as Anthropic Adds to AI Concerns
Sandisk and AMD stocks fell as investors reacted to revenue figures from AI firm Anthropic. While Anthropic's third-quarter revenue reached $16.8 billion, some investors view this growth as insufficient for a company targeting a $2 trillion valuation. This sentiment has contributed to a broader chipmaker selloff that pushed the Nasdaq into the red and limited gains for the S&P 500. The situation reflects a growing tension between high AI valuations and the actual pace of revenue growth ahead of Anthropic's planned IPO.
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- β Anthropic reported third-quarter revenue of $16.8 billion.
- β Sandisk and AMD shares fell following AI concerns tied to Anthropic.
- β A selloff in chipmakers kept the Nasdaq in the red and the S&P 500 little changed.
What changed
Anthropic reported third-quarter revenue of $16.8 billion, triggering a selloff in AI-linked stocks like Sandisk and AMD.
Live updates
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Sandisk and AMD Shares Drop Amid Anthropic Revenue Concerns
Sandisk and AMD stocks fell as investors reacted to revenue figures from AI firm Anthropic. While Anthropic's third-quarter revenue reached $16.8 billion, some investors view this growth as insufficient for a company targeting a $2 trillion valuation. This sentiment has contributed to a broader chipmaker selloff that pushed the Nasdaq into the red and limited gains for the S&P 500. The situation reflects a growing tension between high AI valuations and the actual pace of revenue growth ahead of Anthropic's planned IPO.
Why it matters
Anthropic is preparing for a stock market listing during a period when the broader US IPO market has slowed. The company's financial performance is being used by Wall Street as a barometer for the AI sector's overall health.
What is confirmed
- Anthropic reported third-quarter revenue of $16.8 billion.
- Sandisk and AMD shares fell following AI concerns tied to Anthropic.
- A selloff in chipmakers kept the Nasdaq in the red and the S&P 500 little changed.
Still unconfirmed
- Anthropic is targeting a $2 trillion valuation.
- Investors are tempering IPO valuation expectations due to a slowdown in revenue growth.
What to watch next
- Official filing of Anthropic's IPO prospectus
- Quarterly earnings reports from other major AI chip suppliers
- Updates on Anthropic's valuation from lead underwriters
confidence 90%Sources used for this update (15)
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- Business Insider β 'Not good enough. It's over': The AI doomers are going off on Anthropic's revenue figures
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- Reuters β EXCLUSIVE: Investors temper Anthropic IPO valuation expectations over revenue growth slowdown, sources say
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