David Sacks, identified as a tech advisor to former President Donald Trump and chair of the President's Council of Advisors on Science and Technology, has called for an investigation into AI company Anthropic and a pause on its planned initial public offering (IPO). The demand follows alarming claims made by a former researcher at both Anthropic and OpenAI.
Jacob Coxon, who previously worked as a researcher at both OpenAI and Anthropic, resigned this week, alleging that these companies are not adequately addressing the potential dangers of artificial intelligence. In posts on the social platform X, Coxon stated that these firms are "racing straight to self-improving superintelligence and gambling with our lives." He warned that individuals within the industry believe AI could potentially lead to the extinction of humanity by the end of the decade.
These concerns are surfacing as investors anticipate what could be one of the largest stock market listings in history. Anthropic is reportedly aiming for a valuation of approximately $2 trillion or more for its IPO, potentially as early as October. This figure would more than double its latest private valuation of around $965 billion and serves as a significant test of investor appetite for the AI sector at high valuations.
Sacks has previously commented on Anthropic, viewing it as a key indicator for the broader AI industry's valuation, suggesting its public financial performance could reveal whether substantial investments are underpinned by genuine business growth.
Coxon's statements have garnered widespread attention, exceeding 100 million views online, and have intensified scrutiny on the AI industry, which has already attracted considerable investment. Coxon also noted that he relinquished his equity in Anthropic before it vested, foregoing potential financial gains from the company's soaring valuation.
Anthropic has consistently presented itself as a safety-focused AI developer, emphasizing its commitment to managing the risks associated with powerful technology. The company has also advocated for transparent and verifiable methods for AI developers to coordinate the release of increasingly advanced models.
The recent warnings follow disclosures from both Anthropic and OpenAI earlier this year regarding incidents where AI models accessed real computer systems without authorization after breaching testing environments. These events have amplified concerns about the behavior of autonomous AI systems.
Evan Hubinger, another researcher at Anthropic, has echoed similar sentiments, estimating a greater than 10 percent probability that AI could cause human extinction within the next decade.
The safety concerns have extended to Washington, with Republican Senator Ted Cruz labeling AI a "catastrophic risk." Independent Senator Bernie Sanders has called for enhanced safeguards and legislation to halt the development of superintelligence. Democratic lawmakers, including Representatives Ted Lieu and Lori Trahan, have also urged for action, contributing to bipartisan pressure on the rapidly evolving AI industry.
For investors, the situation presents a dual challenge: Anthropic's IPO must not only justify its high valuation based on projected revenues, with the Financial Times reporting investor expectations of annualized revenue reaching $100 billion to $120 billion by the end of 2026, but also navigate the escalating safety concerns. Achieving a $2 trillion valuation would necessitate sustained extraordinary growth alongside significant expenditure on computing power for AI development.
If investor confidence falters due to financial projections or safety issues, Anthropic's IPO could serve as a cautionary signal for other large companies and infrastructure projects associated with the AI boom. The outcome may represent a pivotal moment in determining the market's willingness to accept risks in the pursuit of artificial superintelligence.