Some current Anthropic investors and prospective IPO investors are weighing a lower valuation after the company's latest financial disclosures, four people familiar with the matter said. Some investors attending Wednesday's investor day in San Francisco discussed a valuation of around $1.5 trillion, three of the people said. Investors had previously expected a valuation of roughly $2 trillion for the November share sale. The reassessment comes amid broader concerns about the growing cost of financing AI.
Anthropic told prospective IPO investors on Wednesday that third-quarter revenue rose 45% from the previous quarter to $16.8 billion. Anthropic said the company was profitable on an adjusted basis during the quarter. The figures eased some concerns about the massive costs of developing AI systems. However, some investors were disappointed by the slower sequential revenue growth, the people said. Anthropic's revenue had more than doubled from the first quarter to $11.6 billion in the second quarter, the people added. The people spoke anonymously because the people were not authorized to discuss the matter publicly. Anthropic did not immediately respond to requests for comment.
A weaker reception for Anthropic's IPO could weigh on the wider AI market. Investors see the market's near-term prospects as depending largely on the share sale's success, followed by OpenAI's potential listing next year. A technology selloff is disrupting global financial markets and has hurt AI infrastructure companies, chipmakers and providers that rent computing power for AI. Shares and bonds of Nvidia-backed CoreWeave tumbled on Thursday, reflecting growing concern about an AI infrastructure expansion increasingly financed with borrowed money. A disappointing Anthropic share sale could further increase those concerns. Data center operator SB Energy decided to delay its listing last month. Nuclear technology company Holtec Nuclear withdrew its plans to go public.
Attendees at Wednesday's meeting at Anthropic's San Francisco headquarters were mostly the company's most prominent investors. The attendees met CEO Dario Amodei and finance chief Krishna Rao. Former OpenAI executives, including Dario Amodei and his sister Daniela Amodei, founded Anthropic in 2021. Daniela Amodei is now Anthropic's president. Anthropic has become one of the leading generative AI developers through the company's Claude family of models. Alphabet's Google and Amazon have supported Anthropic's rapid growth as investors, computing suppliers and important distribution partners, while also competing in AI.
Anthropic's revenue rose twelvefold last year to nearly $4.6 billion. Anthropic lost more than $8 billion on an operating basis last year, excluding liability writedowns mostly linked to previous fundraising. Anthropic's IPO prospectus, seen in September, outlined the company's vision that AI will transform the global economy more profoundly than industrialization, electricity and the internet. Anthropic reported a loss of $42 billion in 2025 in the prospectus and projected further spending on AI infrastructure expansion. Anthropic has committed to spending at least $518 billion over a decade on cloud services, computing and infrastructure.
Anthropic Investors Reassess IPO Valuation Amid Slower Revenue Growth
FLASH AIShare
Summary
Anthropic investors are rethinking the company’s IPO valuation, with some now eyeing a $1.5 trillion target, down from $2 trillion. The shift follows Q3 financials showing a 45% sequential revenue jump to $16.8 billion, though growth slowed from the prior quarter. Some investors voiced concerns over the deceleration, even as the firm posted adjusted profitability. The move comes amid ongoing AI + crypto news and latest crypto news updates.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.