It looks like investors hoping to get a piece of the Anthropic IPO pie are going to have to wait in line.

Orders for shares of the AI company—whose stock market debut is expected to be one of (if not the) biggest in the history of Wall Street—have already exceeded the number currently on offer several times over, according to a Wednesday report from Bloomberg.

The report (which cited anonymous sources and didn’t specify exactly how far demand for the shares exceeded the current supply) is bad news for prospective investors, but it’s likely to be a jolt of encouragement for Anthropic’s bankers and financial underwriters: a reassuring signal that public demand for the company’s shares remains high, despite some serious tremors that have recently rocked the AI industry.

AI stocks hit a rough patch following last week’s midterm elections, which resulted in a resounding victory for AI critics within the Democratic Party as well as a nationwide voter rejection of plans to build new data centers. Nvidia, whose chips are the cornerstone of the AI industry, has faced additional headwinds following CEO Jensen Huang’s admission that he’d cheated on his wife with a woman believed by U.S. intelligence agencies to be a Chinese spy, and potentially jeopardized U.S. national security in the process. (Nvidia says its board of directors has launched an internal investigation in response to the revelations.)

Even before the Nvidia scandal and the campaign cycle for the midterms had begun, investors had been wary of AI companies like Anthropic, which, despite their huge popularity and rapid financial growth, have yet to offer a clear path to long-term profitability.

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