Anthropic IPO Faces Valuation Challenges Ahead of Launch
November 9, 2026 · 2 min read
Also published in العربية
On November 7, an artificial intelligence company, Anthropic, is reportedly facing investor skepticism regarding its initial public offering (IPO) valuation. Some investors believe that the proposed valuation of 1.5 trillion USD is still too high. Anthropic declined to comment on these concerns.
Reports indicate that Anthropic's expected valuation has been continuously revised downward as it approaches what is dubbed the "largest IPO in history". The company initially planned to commence its roadshow on the week of November 9, followed by pricing the next week, aiming for a public listing on November 16. Initially, Anthropic sought a valuation as high as 2 trillion USD.
Investor sentiment has shifted following a recent sharp decline in technology stocks, which is changing how institutional investors perceive Anthropic's valuation ahead of the IPO. These investors have indicated to Anthropic and its advisory team that the IPO valuation later this month should be between 1.5 trillion USD and 1.6 trillion USD, significantly lower than the previously discussed near 2 trillion USD figure.
Three large investors planning to participate in the IPO believe that the valuation should be reduced further, with one investor suggesting it could be closer to 1 trillion USD. The gap between buyers and sellers' expectations spans half a trillion, yet this does not imply that the company has accepted a "halved" pricing.
Investor caution is also linked to market conditions and the company's financial situation. Reports state that a significant sell-off in technology stocks, along with Anthropic's prior quarterly losses and substantial commitments to AI infrastructure spending, have prompted underwriters to demand a larger discount. Some investors are also awaiting the revenue data for October to assess whether the recent slowdown in growth will accelerate again.
Tech media outlet The Information reported that Anthropic plans to continue its IPO roadshow next week and still aims to go public during the week of November 16, just before Thanksgiving.