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Some Anthropic investors now eye a $1.5 trillion IPO valuation

Investors who heard Anthropic’s pre-IPO pitch are discussing a lower price after its growth slowed, Reuters reported, down from about $2 trillion.

By Alexandre S. , 00:45 UTC

Some investors who sat through Anthropic’s pre-IPO briefing are now discussing a valuation of about $1.5 trillion for its stock market debut, Reuters reported on Thursday 15 October 2026, as relayed by Seoul Economic Daily. The figure most had expected was nearer $2 trillion. Earlier this month, Bloomberg reported that Anthropic, maker of the Claude models, aims to list before Thanksgiving, as we covered.

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Investors point to slower growth, according to Reuters. Anthropic told Wednesday’s investor day it took in $16.8 billion in the third quarter, a 45 per cent rise on the quarter before, and turned a profit on its own adjusted measure, Finimize writes, citing Reuters. Between the first and second quarters, revenue had more than doubled. That slowdown is what investors fixed on, according to the Reuters report Seoul Economic Daily relays.

Its spending pledges for cloud services, computing and infrastructure add up to at least $518 billion across ten years, Finimize adds. Both outlets tie the two together: a weak debut for Anthropic would make OpenAI’s listing, expected next year, a harder sell.

The price public investors settle on sets how much money the Claude maker can raise for the computing power behind the tools you use.

Earlier on this story: Anthropic moves its IPO towards mid November