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Anthropic investors weigh lower $1.5 trillion IPO valuation amid slowing growth

Existing and prospective Anthropic investors are considering trimming the Claude maker's upcoming IPO valuation to about $1.5 trillion, down from earlier expectations of $2 trillion, following disclosures of decelerating revenue growth and massive infrastructure commitments.

Anthropic logo with black text centered on a tan background.
Image: @wallstengine

Investors in artificial intelligence developer Anthropic are discussing an initial public offering valuation of around $1.5 trillion, down 25% from earlier expectations of $2 trillion, according to a Reuters exclusive. The reduced target is being considered by both current and prospective investors ahead of an anticipated November listing.[1][2][3][8]

The reassessment follows third-quarter disclosures revealing that sequential expansion has cooled. Anthropic generated $16.8 billion in Q3 revenue, an increase of 45% quarter-over-quarter. While the company achieved adjusted profitability during the quarter, the top-line pace was a sharp deceleration from the second quarter, when revenue more than doubled to reach $11.6 billion.[2][3][4][6]

Investor sentiment has also been dampened by broader tech sector declines and mounting scrutiny over the capital intensity of artificial intelligence. Anthropic has committed to spending at least $518 billion on cloud computing and infrastructure over the next decade, fueling questions among backers about long-term margins and capital commitments.[2][3][5][7]

Key facts

  • Anthropic investors are considering an IPO valuation of approximately $1.5 trillion, down 25% from earlier expectations of $2 trillion.
  • The company is targeting an initial public offering in November.
  • Anthropic reported Q3 revenue of $16.8 billion, representing 45% quarter-over-quarter growth.
  • Q3 growth marked a sharp sequential deceleration after Q2 revenue more than doubled to $11.6 billion.
  • Anthropic achieved adjusted profitability during the third quarter.
  • Anthropic has committed to spend at least $518 billion on cloud computing and infrastructure over the next decade.
  • Valuation targets face additional pressure from a broader tech market selloff and concerns over capital intensity.

Sources · 7 sources

  1. TE

    TechmemeArticle ·

    Sources: some Anthropic investors discussed a ~$1.5T valuation for its IPO, down from ~$2T they had expected, after disclosures showed slowing Q3 revenue growth (Reuters) Reuters : Sources: some Anthropic investors discussed a ~$1.5T valuation for its IPO, down from ~$2T they had expected, after disclosures showed slowing Q3 revenue growth — Some current Anthropic investors and prospective investors in its upcoming initial public offering are weighing a lower valuation …

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  2. WS

    Wall St Engine@wallstenginePost on X ·

    ANTHROPIC IPO VALUATION EXPECTATIONS DROP TO ~$1.5T FROM $2T: RTRS Some existing and prospective investors are reconsidering the Claude maker's valuation ahead of its anticipated November IPO, according to Reuters. Anthropic reported Q3 revenue of $16.8B, up 45% QoQ, compared with growth of more than 100% in Q2, when revenue reached $11.6B. Despite reporting adjusted profitability, the slowdown disappointed some investors, with a broader tech selloff and concerns over rising AI infrastructure costs adding pressure. The company has committed to spending at least $518B on cloud computing and infrastructure over the next decade. Source: Reuters.

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  3. *B

    *Walter Bloomberg@DeItaonePost on X ·

    ANTHROPIC’S IPO VALUATION EXPECTATIONS DROP FROM $2 TRILLION TO $1.5 TRILLION Some investors are considering a $1.5 trillion valuation for Anthropic’s upcoming IPO, down 25% from earlier expectations of $2 trillion. Anthropic reported $16.8 billion in Q3 revenue, up 45% quarter-over-quarter, but growth slowed sharply after revenue more than doubled in Q2. The company also reported adjusted profitability for the quarter. The key concern: Slowing revenue growth and rising AI infrastructure costs could weigh on one of the most anticipated IPOs. Source: Reuters Exclusive

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  4. GC

    Geiger Capital@Geiger_CapitalPost on X ·

    *ANTHROPIC INVESTORS WEIGH LOWER IPO VALUATION OF ~$1.5T VS EARLIER $2T *INVESTORS DISAPPOINTED BY SEQUENTIAL GROWTH DECELERATION Pack it up. It’s over. https://t.co/sZLYHH8Ow4

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  5. CB

    Crypto BriefingArticle ·

    Anthropic investors consider lowering IPO valuation to $1.5 trillion as AI spending concerns grow Anthropic's reduced IPO valuation highlights investor caution, emphasizing the need for sustainable growth amid significant financial commitments. The post Anthropic investors consider lowering IPO valuation to $1.5 trillion as AI spending concerns grow appeared first on Crypto Briefing .

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  6. GU

    GURGAVIN@gurgavinPost on X ·

    JUST IN : SOME ANTHROPIC INVESTORS ARE CONSIDERING LOWERING IT’S IPO VALUATION TO $1.5T DOWM FROM $2 TRILLION OVER DISAPOITING GROWTH DECELERATION PER REUTERS 📉📉📉📉

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  7. CB

    Crypto BriefingArticle ·

    Anthropic’s IPO valuation expectations drop to $1.5T amid market caution Anthropic's valuation drop highlights market caution, reflecting broader investor concerns over capital intensity and strategic uncertainties. The post Anthropic’s IPO valuation expectations drop to $1.5T amid market caution appeared first on Crypto Briefing .

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  8. TE

    Techmeme@TechmemePost on X ·

    Sources: some Anthropic investors discussed a ~$1.5T valuation for its IPO, down from ~$2T they had expected, after disclosures showed slowing Q3 revenue growth (Reuters) (Visit Techmeme dot com for the link and full context!)

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