Analyst Gil Luria warns Anthropic would be a speculative investment
DA Davidson analyst Gil Luria sees greater opportunity in AI infrastructure providers as Anthropic pursues a potential public offering.
AnthropicGil Luria, who leads technology research at DA Davidson, said on October 19 that Anthropic would represent a highly speculative investment. He argued that established cloud and infrastructure suppliers offer stronger opportunities than a bet on which AI model developer wins.
Luria attributed Anthropic's slowing growth to stronger competition and businesses seeking cheaper models with openly available weights. Those explanations reflect his assessment. He said increasing AI usage and customer spending matter more to his broader investment outlook than any single developer's performance.
He identified Microsoft, Amazon and Google as beneficiaries of continuing infrastructure demand, alongside chip suppliers Nvidia, Broadcom and Micron. Luria said a disappointing Anthropic debut could briefly unsettle AI stocks, but he did not view an exceptional offering as necessary to sustain the sector.
Anthropic confirmed on June 1 that it had confidentially submitted a draft registration statement for a potential stock offering. At that time, it had not determined the share count or offering price. The company said proceeding would depend on regulatory review, market conditions and other factors.
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