Beijing News: Following last week's sharp decline in tech stocks, major institutional investors planning to participate in Anthropic's IPO are requesting a lower valuation, aiming for $1.5 trillion to $1.6 trillion. Investors are concerned about overheated AI investments, resistance to data center construction, and the prolonged delay in realizing profits from massive computational investments.
Anthropic has not yet determined its final valuation or number of shares to be issued. The company plans to launch its roadshow as early as next week, aiming for an IPO during the week of November 16. Some investors hope the company will set a conservative price to allow room for the stock to rise on its first day of trading.
On November 2, Anthropic also filed an updated S-1/A registration statement with the SEC, disclosing total commitments for compute and infrastructure contracts amounting to approximately $895.4 billion, covering cloud computing purchases, data center operations, and equipment leasing. Of this amount, approximately $447.5 billion is expected to be incurred by the end of 2030, with the majority of the remainder extending through 2045. Within the next 12 months, the company has contractual payment obligations of approximately $69.8 billion.
Anthropic's third-quarter revenue reached $16.956 billion, representing a sequential growth of approximately 47%, compared to a sequential increase of 144% in the second quarter. Operating profit shifted from $974 million in the second quarter to a loss of $567 million in the third quarter.
Anthropic explained that approximately $5 billion in computing power during the third quarter came from more expensive short-term contracts, and an additional $2 billion in non-cash employee donation matching expenses was included. Price reductions on new models and customer agreement discounts offset approximately $600 million in revenue growth.