Anthropic is preparing to go public even as its own CEO has called for slowing the pace of AI development to ensure safety measures can keep up.

We see through the rhetoric of billionaire tech executives who profess concern while accelerating the very same risks. We cannot trust AI corporations and their powerful backers to put the needs and safety of everyday people first. That is why we are calling on banks, institutional investors, and stewards of public funds to:
- boycott the Anthropic IPO
- pause all investments in AI and data centers, and
- pledge to not bail out AI companies with public taxpayer and retirement money.

AI corporations are already consuming our water, building unwanted data centers in our communities, hiking our utility costs, expanding surveillance, facilitating deportation and automated warfare, fighting meaningful regulation, and threatening workers’ livelihoods—all while racing to build technology that many of them believe could destroy humanity.

Meanwhile, Wall Street is helping billionaire tech executives inflate the AI bubble by arranging circular deals within the industry, moving trillions in unregulated private credit loans, and rewriting financial rules so that our pensions and 401(k)s can be tapped to fuel massive AI IPOs.

The AI bubble is likely to burst. We see the signs. The potential for an AI bailout is real. Every day our government is helping underwrite AI’s growth through tax breaks, lucrative contracts, data center subsidies, and by considering regulatory waivers. AI corporations and their financial backers are effectively betting that when the bubble bursts, taxpayers and retirement savers will pick up the pieces.

We’ve seen this story before: during the dot-come bubble of the 1990s and the 2008 housing crisis. Wall Street rewrites the rules and working people are left holding the bag.

Working people have already been forced to invest their retirement savings in SpaceX, an unprofitable company that, upon going public, made Musk the world’s first trillionaire. Index providers changed their rules to fast track SpaceX into retirement funds—creating the conditions for inflating its value. Now, pre-IPO investors and insiders can cash out and get rich while working people’s retirement money in index funds will be left taking the losses.

We won’t accept another privatization of gains and socialization of losses.
We therefore call on major bank executives, local and state financial officers, top asset managers and all stewards of public investment and retirement assets—including pension funds and university endowments—to boycott the Anthropic IPO, place a moratorium on investments in AI and data centers, and to pledge that none of our hard-earned money be used in a future AI bailout. You have a fiduciary responsibility to make the right choice.