Investors temper Anthropic IPO valuation to ~$1.5T from $2T as revenue growth slows

What happened

Investors who attended Anthropic's investor day on Wednesday discussed valuing the company at around $1.5 trillion in its November IPO, a significant step down from the roughly $2 trillion previously expected, Reuters reported Oct 15, citing people familiar with the matter. Anthropic told prospective investors its Q3 revenue rose 45-46% sequentially to $16.8B with adjusted-basis profitability, but the sequential growth rate slowed sharply from Q2, when revenue more than doubled from $4.7B in Q1 to $11.6B. The valuation reset weighed on AI stocks again Thursday and was still dragging Nasdaq futures lower Thursday night.

Who’s affected

• AI ecosystem: NVDA, AMD, AVGO (chip suppliers to AI labs), MSFT, AMZN, GOOGL (cloud/hyperscalers funding AI buildout), neocloud names CRWV, NBIS, IREN, plus memory names MU, SNDK, STX, WDC. A cooler Anthropic IPO would pressure the whole AI-valuation complex and OpenAI's expected 2027 listing.

Sources

reuters.combarrons.cominvestors.com