Anthropic aims to go public before Thanksgiving and accepts a lower valuation after the tech selloff
The Financial Times reports that the Claude developer wants to raise $80–100 billion at a valuation of $1.25–1.75 trillion.
Investors cited by the Financial Times say Anthropic is going ahead with its initial public offering despite this week's tech selloff, The Decoder reports. The company wants to list before Thanksgiving and raise $80 billion to $100 billion at a valuation of $1.25 trillion to $1.75 trillion. That is above its current $965 billion valuation but below the $2 trillion the most optimistic investors had hoped for. Anthropic's annualized revenue is reported at about $81 billion, up from roughly $65 billion at the end of July. According to the report, rising borrowing costs and heavy AI spending plans set off the selloff. Democrats' win in the US midterms sped it up, because they had promised measures including slowing data center construction. The Nasdaq 100 fell 6.4 percent on Thursday and recovered somewhat on Friday. OpenAI has also lowered the valuation target for its funding round from $1.4 trillion to $1.25 trillion. Together, the two moves show the leading AI labs adjusting their price expectations to tougher markets while still raising very large sums. The IPO would also expose Anthropic to the disclosure requirements of a public company.