Anthropic IPO outlook dims as investors cut valuation to $1.5 trillion
What's new: After reporting $16.8 billion in quarterly revenue, some investors flagged slower growth and rising AI financing costs.
Anthropic’s planned IPO is drawing a cooler response from some investors, who are now discussing a valuation near $1.5 trillion instead of the roughly $2 trillion previously expected. At an Oct. 14 investor meeting in San Francisco, the Claude maker told prospective buyers that third-quarter revenue rose 45% from the prior quarter to $16.8 billion and that it was profitable on an adjusted basis. Even so, several investors were disappointed that growth slowed from the second quarter, when revenue had jumped from $4.7 billion in Q1 to $11.6 billion. The shift comes amid a broader tech sell-off and growing concern that the AI buildout, from chipmakers to cloud providers, is becoming increasingly dependent on borrowed money.