Investors brace for lower Anthropic valuation, calling $1.5 trillion a 'stretch' — SkimNews
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- Anthropic faces lower IPO valuation expectations, with $1.5 trillion called a "stretch" and $1 trillion to $1.25 trillion identified by an investor as the more likely range.
- Anthropic was reportedly seeking a valuation as high as $2 trillion last month, compared with its $965 billion private valuation in May.
- Nasdaq fell more than 5% Thursday, its steepest drop in 19 months, reflecting fears that Democrats’ newfound power in Washington, D.C. and a nationwide backlash to AI would slow data-center buildouts; its October decline was its worst month since March 2025, led by chipmakers and neoclouds.
- Gil Luria of D.A. Davidson said investors will expect Anthropic’s IPO to be priced at least at the low end of previous expectations, and argued the best way to set the company up for success is to price the deal well.
- Anthropic declined to comment on the valuation debate as its roadshow was set to kick off next week and its Nasdaq listing, under ticker ANT, was expected within weeks.
Why it matters: The pricing benchmark has moved: one investor now sees $1 trillion–$1.25 trillion, while Gil Luria says investors will expect the low end of previous expectations. Anthropic’s bankers, whom Luria says need the IPO to go well, face a $750 billion-to-$1 trillion gap from the $2 trillion valuation reportedly sought last month, with the roadshow expected next week.
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