Reuters is reporting that in a letter to CEO Dario Amodei, New York City Comptroller Mark Levine urged Anthropic to delay its U.S. IPO until it addresses concerns about safety, governance and the pace of development.
As for why the NYC Comptroller speaking up is something to pay attention to… how about because the position oversees the city’s finances, manages its pension funds and acts as a watchdog over public spending and financial practices. That means it oversees ~ $325 billion in assets.
So far, Anthropic has yet to respond but as it gets ready for its IPO roadshow in less than month, no doubt the comptroller’s letter will come up during Q&A sessions, if not sooner.
For us over at the Pro Portfolio, our position in Morgan Stanely ($MS), lead underwriter of the offering, means we will be tracking the timing and ultimate size of the offering very closely. We’ll also be watching to see if others follow in the NYC comptroller’s footsteps.
With 30 years of cross-industry experience, Chris Versace brings his thematic investing lens to TheStreet Pro Portfolio (formerly Action Alerts PLUS) each day as lead portfolio manager. His daily insights, analysis, and recommendations provide the foundation for TheStreet's Pro Portfolio.
Versace began his career in equity research before founding Versace Management in 2005. He joined TheStreet team in 2011 as a Real Money contributor before becoming portfolio manager of Action Alerts PLUS in 2021. He holds an MBA from Fordham Gabelli School of Business and has co-authored a book called “Cocktail Investing - Distilling Everyday Noise into Clear Investing Signals for Better Returns.”
With a passion for teaching others about investing, Versace spent 9 years as an Assistant Professor of Finance at NJCU School of Business. When he’s not contributing to TheStreet’s premium services, he can be found speaking at industry conferences or at a Bruce Springsteen concert (he’s seen him 50 times and counting!).
