Investors in AI developer Anthropic are reassessing the company's valuation ahead of its planned initial public offering. The shift in market expectations follows recent financial disclosures revealing a slowdown in growth and substantial operational deficits.
Anthropic reported a 45% increase in third-quarter revenue, reaching $16.8 billion. Despite this growth, the company disclosed operational losses exceeding $8 billion for 2025. These figures, combined with long-term infrastructure spending commitments, have impacted investor sentiment.
Market participants are now discussing a potential IPO valuation of approximately $1.5 trillion. This figure represents a downward adjustment from the previously anticipated valuation of $2 trillion.
Future market expectations for the IPO will depend on updates regarding pricing strategies and financial performance. Analysts are monitoring guidance from underwriters and secondary-market pricing, as well as the strategic actions of major investors like Amazon and Google.
