AI · November 5, 2026
Anthropic IPO valuation expected between $1.5 trillion and $1.6 trillion
Anthropic, an artificial intelligence company, is reportedly facing a lower initial public offering valuation due to a recent decline in technology stocks. Major investors participating in the planned IPO have expressed their belief that the company's valuation should be around $1.5 trillion to $1.6 trillion, significantly lower than the nearly $2 trillion figure circulating in recent months.
Concerns from investors include market volatility and increasing apprehension regarding excessive exposure to AI investments. Additionally, uncertainties surrounding the political backlash facing data centers, as well as when major cloud service providers like Amazon and Meta will demonstrate AI-related profits, have raised further doubts.
Anthropic has yet to finalize its valuation target and is still considering how many shares to sell. Following an investor day last month, some investors suggested that the company's valuation should be closer to $1.5 trillion. However, this was before last week's double-digit declines in technology stocks, including significant drops from companies like Intel and Alphabet after disappointing earnings reports.
Some investors are confident that Anthropic's CFO, Krishna Rao, will set a conservative valuation to ensure that IPO investors can see an immediate increase in stock prices on the first trading day. They believe that even listing at around $1.5 trillion could lead the company's market value to rise to $2 trillion by the end of the first trading day. For comparison, SpaceX, owned by Elon Musk, saw a 30% surge on its first day of trading in June, at a time when there was less general anxiety about AI.
Anthropic plans to begin its investor roadshow as early as next week, with the IPO expected to take place the week before Thanksgiving. The company will announce the number of shares it aims to sell and the target price range at the start of the roadshow to provide a clearer valuation target.