Artificial intelligence developer Anthropic is facing investor resistance to its proposed $1.5tn IPO valuation, potentially delaying a planned November listing amid a sharp sell-off in technology stocks, according to a report by Reuters citing people familiar with investor discussions.

Prospective investors have reportedly questioned whether the valuation is sustainable and are seeking more attractive pricing before committing capital. The company had been preparing to begin its investor roadshow during the week of 9 November, with pricing expected the following week, although discussions over timing and valuation remain ongoing.

Concerns have intensified following a broad sell-off in AI-related equities, amid uncertainty over the profitability of large-scale infrastructure spending and growing political opposition to data centre development. Investors are also awaiting Anthropic's October revenue figures to assess its growth trajectory, particularly given its substantial capital requirements and continuing losses.

The potential delay highlights mounting scrutiny of private market technology valuations as high-profile AI companies transition towards public ownership. Anthropic had previously been associated with valuations as high as $2tn, but a weaker market backdrop could force a repricing of one of the year's most anticipated listings.