Reuters reported on October 15, 2026 that some Anthropic investors are weighing a $1.5 trillion valuation for the planned November IPO, down from the roughly $2 trillion they had expected. Slower growth explains the cut: third-quarter revenue rose 45% to $16.8 billion, after second-quarter revenue had more than doubled from the first. Anthropic still reported a $42 billion loss for 2025 in its prospectus, although it says it was profitable on an adjusted basis. Amazon and Alphabet, which are investors, suppliers, partners and competitors, would book smaller future gains on their stakes at a lower price, though neither discloses the carrying value. Anthropic's commitments of at least $518 billion over a decade still flow to suppliers, and Google Cloud revenue grew 82% in the second quarter regardless of the IPO price.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Related news
- Anthropic Reportedly Posted Quarterly Revenue Growth of 50% and Was Cash-Flow Positive. Here's Why It Might Not Be Enough to Impress Investors Before the Company's Massive IPO
Anthropic reportedly told investors at a private day that its revenue reached $16.8 billion for the three months ended Sept. 30, up 50% quarter over quarter, and that it was cash-flow positive and adjusted-profitable. That growth is slower than the 140% gain seen between the first and second quarters, and Jefferies had reportedly expected an annual revenue run rate of at least $80 billion. The company has delayed its IPO registration statement twice amid AI safety concerns and very heavy infrastructure spending. A Saxo Markets strategist says a valuation above $2 trillion would be about 30 times annualized Q3 revenue, making valuation the main debate. The article argues investors are now asking tougher questions about funding, cost of capital and returns, so these results may not impress them much.
- Anthropic’s $2 Trillion IPO Dream Meets a $1.5 Trillion Reality Check
- Will OpenAI Go Public? One VC Says ‘Not Really Sure They Mean It’ But Bets On ‘Blockbuster’ Anthropic Listing
Verdict Capital's Michael Fertik told CNBC he is not sure OpenAI really intends to go public, and said rival Anthropic could be a “blockbuster” listing that covers any gap if OpenAI stays private. Anthropic reportedly shared its third-quarter financials with prospective investors ahead of a potential IPO that could value it at around $2 trillion, reporting $16.8 billion in Q3 revenue (up from $11.6 billion in Q2 and $4.7 billion in Q1), positive free cash flow, an 85% adjusted gross margin and an adjusted operating margin above 11%. CNBC's Jim Cramer said the numbers appeared to contribute to a sharp tech selloff on Wednesday, when the Nasdaq fell about 1.9% and the iShares Semiconductor ETF (SOXX) dropped 8.7%, amid a hotter-than-expected U.S. inflation reading and concerns over AI valuations and infrastructure spending. The article notes that Microsoft, Amazon and Alphabet have ties to the two labs through investments and cloud infrastructure. As of early Thursday, Stocktwits retail sentiment was “bullish” on Anthropic and “bearish” on OpenAI.
- Anthropic IPO: Musk Wants AI Firm To Hand Shares Directly To Public, Says 'This Is What I Will Be Doing'
Elon Musk suggested Anthropic should distribute its shares directly to the public, responding to the company's plan to commit 5% of its equity to a new Public Benefit Fund, which could rise by 2% for every 50% increase in valuation above a baseline. Co-founders pledged to donate 80% of their equity, and Anthropic committed $200 million to address AI-driven labor disruption. Critics including David Sacks and investor Vijar Kohli questioned whether the LLC structure serves the public good or could dilute voting rights and complicate the IPO. Anthropic, which confidentially filed for a U.S. listing in June, reported third-quarter revenue of $16.8 billion, up 45% from the previous quarter, but some investors are discussing a valuation near $1.5 trillion, below earlier expectations of $2 trillion.
- Anthropic Eyes IPO as It Projects AI Adding Trillions to US GDP
Kalshi traders put 70% odds on an Anthropic listing before year-end, which would be the first public pure-play frontier AI lab. Anthropic says AI could push US GDP to $44 trillion by 2030. The feed also covers other markets: the KBW Bank Index has fallen six straight weeks, down 11%, its longest such streak since 2008; the US FY2026 deficit reached $1.99T, with net interest at $1.36T; and Amazon has deployed over 1 million robots while employing 1.5 million humans. Nvidia CEO Jensen Huang says classical computing is about a third of its business and growing 30 to 40% a year, and critics say an Anthropic-written AI safety bill, with a 10²⁵ FLOPs threshold, could sweep in smaller startups.
- Anthropic Wants an IPO. New York City Wants It to Slow Down.
Related markets
Latest news
- Homebuilder Sentiment Drops To Lowest Level Since 2012
Homebuilder confidence has fallen to its lowest level since 2012, according to the latest NAHB and Wells Fargo Housing Market Index. Rising mortgage rates and higher energy and material costs have pushed builder sentiment to a 14-year low, keeping more buyers on the sidelines. Confidence edged up in March, with the headline index rising one point to 38, but it remains below the breakeven level of 50 that separates positive from negative conditions. Prospective buyers are waiting for lower rates and greater economic clarity, while builders face elevated land, labor and construction costs. NAHB Chief Economist Robert Dietz pointed to global events and energy prices as headwinds, though efforts to reduce regulatory burdens could help long-term housing supply.
- Inflation data shows high energy prices still contained , for now : economists
Canada's annual inflation rate rose to 3.1 per cent in September as gasoline prices jumped 27.8 per cent amid the Middle East war, but came in slightly below the 3.2 per cent economists had expected. Excluding gasoline, consumer prices rose 2.2 per cent, after 2.4 per cent in August. Core measures, CPI-trim at 1.8 per cent and CPI-median at 1.9 per cent, suggest underlying price pressures remain relatively contained and higher energy costs have yet to spread widely. Bank of Canada Governor Tiff Macklem warned the bank was prepared to raise rates if necessary, while CIBC's Andrew Grantham said the data suggests policymakers have little rush to do so. Regional gaps were wide, with Ontario lowest at 2.5 per cent and all three Maritime provinces well above the national rate as heating oil prices surged.
- Sentiment improved , but new tariffs weigh on business outlook : BoC report
The Bank of Canada's business outlook survey found average business sentiment improved in the third quarter, though firms remained worried about rising costs and the war in the Middle East. About three-quarters of the interviews, however, took place before trade talks between Canada and the United States broke down at the end of August and Canada announced new counter-tariffs. Afterward, firms pointed to new U.S. tariffs on some goods and Canadian counter-tariffs as weighing on their outlooks, and the bank said tariffs are dampening sentiment, weakening export and investment prospects, and pushing up costs and prices. A separate consumer survey found long-term inflation expectations rose to match short-term ones, and consumers reported better financial health than last quarter, though high prices and economic uncertainty still weigh on them. The bank's next rate decision and monetary policy report are due Oct. 28.
- Homebuilder Sentiment Drops To Lowest Level Since 2012
Homebuilder confidence has fallen to its lowest level since 2012, according to the latest NAHB and Wells Fargo Housing Market Index. Rising mortgage rates and higher energy and material costs have pushed builder sentiment to a 14-year low, keeping more buyers on the sidelines. Confidence edged up in March, with the headline index rising one point to 38, but it remains below the breakeven level of 50 that separates positive from negative conditions. Prospective buyers are waiting for lower rates and greater economic clarity, while builders face elevated land, labor and construction costs. NAHB Chief Economist Robert Dietz pointed to global events and energy prices as headwinds, though efforts to reduce regulatory burdens could help long-term housing supply.
- Homebuilder Sentiment Drops To Lowest Level Since 2012
Homebuilder confidence has fallen to its lowest level since 2012, according to the latest NAHB and Wells Fargo Housing Market Index. Rising mortgage rates and higher energy and material costs have pushed builder sentiment to a 14-year low, keeping more buyers on the sidelines. Confidence edged up in March, with the headline index rising one point to 38, but it remains below the breakeven level of 50 that separates positive from negative conditions. Prospective buyers are waiting for lower rates and greater economic clarity, while builders face elevated land, labor and construction costs. NAHB Chief Economist Robert Dietz pointed to global events and energy prices as headwinds, though efforts to reduce regulatory burdens could help long-term housing supply.
- One of this year's most important relationships in global financial markets is falling apart
One of the most important relationships in global markets has started to unravel over the past couple of weeks. Investors are scrambling to work out what it could mean for the economy and their portfolios.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.