Investors are focusing on what comes next for Anthropic and its peers, Sonali Basak, the chief investment strategist at iCapital, told CNBC.
One key question, she said, is whether public markets will embrace AI companies that continue to consume huge amounts of capital.
“How comfortable will investors be with this generation of tech giants that burn this much money and that are not free cash flow giants, as we’ve seen of the Magnificent Seven?” Basak told the network.
Beyond the IPOs, Basak pointed to a bigger debate over AI economics. Investors are closely watching whether the industry’s usage-based pricing model proves durable as enterprise customers seek greater pricing certainty.
Even so, excitement around the deals remains strong. The upcoming IPOs are “seen as one of those Facebook-type moments, Amazon-type moments,” Basak said, reflecting investors’ hopes of getting early access to the next generation of technology leaders.
