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On November 6, 2026, major investors expressed doubts about whether Anthropic's IPO could proceed at the expected $1.5 trillion valuation. The Decoder reported that some potential investors doubt whether the roadshow originally scheduled to launch next week can go ahead as planned; the company had also considered a valuation of up to $2 trillion in September, and now some investors are willing to give it a valuation of only $1 trillion, citing that Anthropic is still losing money and continues to burn cash to expand AI infrastructure, and that the updated S-1 filing lacks October revenue data. On November 7, Reuters reported that investors gave a valuation range of $1.5 trillion to $1.6 trillion, lower than the previous level of nearly $2 trillion, with one investor believing it could be closer to $1 trillion; Anthropic still plans to continue the roadshow next week and to list in the week of November 16.
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Anthropic IPO valuation expectations lowered, market worries AI stock selloff could affect listingDevelopments
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Nov 7
cnBeta
Anthropic IPO valuation expectations lowered, market worries AI stock selloff could affect listing
According to foreign media reports, Anthropic's expected IPO valuation has been lowered from about $2 trillion to $1.5 trillion. Some potential investors are discussing a range of $1.2 trillion to $1.3 trillion, and are even considering pushing it down to $1.1 trillion. Traders on Kalshi believe the probability that Anthropic completes its IPO this year has dropped from close to 90% to less than 60%, and some investors question whether it can start its roadshow in the week of November 9. The prospectus shows that Anthropic's third-quarter revenue was $16.956 billion, up about 47% quarter-on-quarter, and its long-term computing power purchase and leasing commitments amount to as much as $895.4 billion.
Phoenix Technology
Report: Anthropic Plans to Launch IPO Roadshow Next Week, Targeting Listing Before Thanksgiving
According to The Information, Anthropic plans to launch its formal IPO roadshow next week, targeting a listing in the week of November 16 and aiming to complete the offering before Thanksgiving (November 26). The market previously expected a valuation of about $1.5 trillion and fundraising of more than $80 billion, but Reuters said some potential investors are doubtful about that valuation, and a decline in tech stocks could push the pricing lower.
Phoenix Technology
Amid the AI stock selloff, Anthropic's expected IPO valuation drops from $2 trillion to $1.1 trillion
Affected by the concentrated selloff in US AI and semiconductor stocks on November 5, Anthropic's expected IPO valuation has been revised down all the way from about $2 trillion in September; some potential investors have already discussed a range of $1.2 trillion to $1.3 trillion, and are even considering pushing it down to $1.1 trillion. Traders on Kalshi believe the probability of completing its IPO within the year has fallen from close to 90% to less than 60%, and the originally scheduled November listing timetable has also been called into question. During the same period, Cat Wu, former head of product for Claude Code, and other members left and joined OpenAI, while Anthropic's latest prospectus shows third-quarter revenue of $16.956 billion, up about 47% quarter over quarter.
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Anthropic IPO valuation sees disagreement; $1.5 trillion is still considered too expensive by some investors
Reuters reported that Anthropic's IPO plan is facing investor doubts about its valuation, with some investors believing that the $1.5 trillion valuation is still too high. The valuation range given by investors is $1.5 trillion to $1.6 trillion, lower than the previous level of nearly $2 trillion, and one investor believes it may be closer to $1 trillion. Anthropic still plans to continue its roadshow next week and to list in the week of November 16.
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Phoenix Technology
OpenAI Completes First Tranche of Roughly $11 Billion in Financing, Valuation Reaches $1.25 Trillion
According to Bloomberg, OpenAI has completed the first tranche of its new round of financing, worth about $11 billion, with the company valued at $1.25 trillion; the total amount of this financing round may reach up to $20 billion. Investors participating in the first tranche include Coatue Management and T. Rowe Price, while SoftBank, Sequoia Capital, Founders Fund, Andreessen Horowitz and a consortium of UAE investors are also among the investors in this round. OpenAI initially planned to raise at least $30 billion at a valuation of $1.4 trillion, but scaled back the financing plan due to the decline in the AI sector's public markets; CEO Altman said the company will not launch an IPO in 2026.
Phoenix Technology
Anthropic's IPO Sprint Hits Valuation Disagreement: Even $1.5 Trillion Still Deemed Too Expensive
Anthropic's IPO plan faces investor doubts over its valuation, with some investors believing that even a $1.5 trillion valuation is still too high; the company declined to comment. Anthropic initially sought a valuation of as much as $2 trillion, while investors favored a range of $1.5 trillion to $1.6 trillion. Three large investors planning to participate believed it should be lowered further, and one of them thought it might be closer to $1 trillion. A tech stock selloff, prior quarterly losses and commitments to massive AI infrastructure spending have led subscribers to demand a larger discount, but the company still plans to go public in the week of November 16.
East Money
Some investors cut Anthropic IPO valuation to $1.5 trillion
Some Anthropic investors expect the company's listing valuation to be below $1.5 trillion, with some believing it could fall further to $1 trillion. Anthropic's target valuation when it confidentially filed documents with the SEC was $2 trillion; the company declined to comment and is expected to launch its roadshow next week. The report noted that Democrats' landslide victory in this week's midterm elections intensified market concerns about a slowdown in AI-related construction.
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Hacker News Trending
Anthropic IPO valuation discussion drops to $1.3 trillion, large investors hesitant about $1.5 trillion target
Anthropic's IPO valuation discussion has dropped from the $1.4 trillion to $1.5 trillion range communicated to investment banks a few days ago to $1.2 trillion to $1.3 trillion, far below the $2 trillion circulating in early October. The revised S-1 shows 2026 Q3 revenue of $17 billion, a 12-fold year-over-year increase, and a net loss of $23.3 billion, of which 90% of the first-half loss came from fair value remeasurement of convertible bonds. The company also has $895.4 billion in purchase and lease commitments, of which about $447.5 billion must be paid by the end of 2030.
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Nov 6
Rohan Paul
WSJ says investors have cut Anthropic's expected IPO valuation from about $2 trillion to $1.5 trillion
WSJ reports that investors have cut Anthropic's expected IPO valuation from about $2 trillion to $1.5 trillion, with some believing $1 trillion is more realistic. The tweet says concerns about a pause on data center construction after the midterm elections triggered a $3.2 trillion selloff in US stocks, while Anthropic's annualized revenue exceeded $80 billion at the end of October, and some investors want to see these results before cutting the valuation. The tweet also mentions that OpenAI has raised $11 billion of its $30 billion target at a $1.25 trillion valuation, and says Google, Amazon and Nvidia are closely tied to Anthropic's business, so the impact of an IPO delay or repricing could extend beyond Anthropic itself.
The DecoderSelected
Anthropic's $1.5 trillion IPO hits a snag as investors question the valuation
Anthropic's IPO has hit a snag as investors question the $1.5 trillion valuation, with some potential investors doubting whether the roadshow originally scheduled to launch next week can proceed as planned. The company was still considering a valuation of up to $2 trillion in September; now some investors are willing to value it at only $1 trillion, citing that Anthropic is still losing money and continues to burn cash to expand AI infrastructure, and that the updated S-1 filing lacks October revenue data. In the midterm elections, several state-level ballot measures targeting data center expansion passed, triggering the sharpest tech stock selloff in a year; if AI stocks remain under pressure, Anthropic may postpone the offering, which some estimates put at up to $100 billion.
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Jiwei.com
After US Stock Market Plunge, Anthropic IPO Valuation May Drop to Nearly $1 Trillion
According to The Wall Street Journal, after US stocks fell sharply on Thursday and AI-related investment bets were unwound, three major investors planning to participate in Anthropic's IPO said the valuation will likely need to be lowered, with one believing it may be closer to $1 trillion, below the previous expectation of about $1.5 trillion. Anthropic originally planned to launch its IPO in the week before Thanksgiving, raising up to $100 billion; some investors raised the question of whether the company would consider delaying the listing or raising less than expected. As of September 30 this year, Anthropic held $146.6 billion in cash, and executives and advisers are expected to meet in the coming days to discuss the IPO plan.
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Phoenix Technology
US stocks shed $2.5 trillion in a single day; Anthropic IPO valuation reportedly cut to $500 billion
US stocks plunged overnight, with the S&P 500 losing $2.5 trillion in 40 minutes, the Dow falling 1,833.06 points, Nvidia dropping 9.26% and AMD dropping 15%. Anthropic's expected IPO valuation was cut from $2 trillion to $1.5 trillion, or even a rumored $500 billion; it carries $895 billion in irrevocable compute and infrastructure spending commitments and must pay $70 billion over the next 12 months. The article also mentions the co-signed "Ban Artificial Superintelligence Act," which would impose a mandatory pause and approval requirement on training runs exceeding 10²⁵ floating-point operations, with violators facing up to 20 years in federal prison.
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Phoenix Technology
US Stock Market Plunge Drags Down Anthropic IPO, Valuation May Fall to Nearly $1 Trillion
According to The Wall Street Journal, after the sharp US stock market decline on Thursday, major investors are increasingly doubtful whether Anthropic can complete its IPO at the expected $1.5 trillion valuation, with one of them believing the valuation may be closer to $1 trillion. Anthropic originally planned to launch its IPO in the week before Thanksgiving, raising up to $100 billion, and held $146.6 billion in cash as of September 30 this year. Some investors suggested the company may delay its listing or reduce fundraising, and executives and advisers are expected to meet in the coming days to discuss the IPO plan.
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