Anthropic's IPO valuation slides from $2T to $1.3T as major investors push back
Anthropic IPO Valuation Talks Drop to $1.3T as Major Investors Balk
Anthropic's planned IPO is being repriced in real time: investors now discuss a $1.2–1.3 trillion valuation, down from $1.5 trillion days earlier and $2 trillion in early October, after the Nasdaq 100's record 6.4% plunge. The amended S-1 shows $17 billion in Q3 2026 revenue, a $23.3 billion net loss driven mostly by convertible-note accounting, and $895.4 billion in compute commitments. A METR study found model improvement running about twice as fast as a year ago.
For now, the company that says it wants to slow down is being forced to speed up its pitch to public markets.