Some investors are weighing a lower valuation for Anthropic's November share sale, with talk of around $1.5 trillion against roughly $2 trillion previously expected. The talk comes after Anthropic's latest financial disclosures and amid broader concerns over the ballooning cost of financing AI, according to Reuters sources.
Some current and prospective investors in Anthropic's upcoming initial public offering are weighing a lower valuation after the company's latest financial disclosures, four people familiar with the matter told Reuters. The concern comes amid broader worries over the ballooning cost of financing AI.
Investors discuss $1.5 trillion after investor day
Some investors who attended Anthropic's investor day on Wednesday in San Francisco discussed a valuation of around $1.5 trillion, three of the people said. That is a significant step down from the roughly $2 trillion that investors had previously expected.
At the meeting, Anthropic told prospective investors that its third-quarter revenue jumped 45% to $16.8 billion from the previous quarter and that it was profitable on an adjusted basis. However, some investors were disappointed by the slower sequential growth, since revenue more than doubled from the first quarter to $11.6 billion in the second quarter, the people added.
A weak debut could weigh on the wider AI market
A cooler reception could weigh on the wider AI market, whose near-term prospects investors see as hinging largely on the share sale's success, followed by OpenAI's potential listing next year. The concerns arrive as a tech selloff roils global financial markets, and shares and bonds of CoreWeave tumbled on Thursday.
The IPO market has suffered some setbacks recently: data center operator SB Energy decided to delay its listing last month, while Holtec Nuclear pulled its plans to go public.
Losses and spending commitments
Anthropic reported a loss of $42 billion in 2025 in its IPO prospectus and projected more spending for the AI buildout. The company has also committed to spending at least $518 billion over a decade on cloud services, computing and infrastructure.
Anthropic did not immediately respond to requests for comment.
Source: Reuters via Investing.com
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