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AI CURATED HOT STORY · 11/6/2026

Anthropic Targets Thanksgiving IPO as Valuation Halves to $1.2 Trillion

33 reports archived12 independent sourcesupdated 11/11/2026, 13:47:04
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Anthropic is pushing ahead with a Nasdaq IPO before Thanksgiving under the ticker ANT, aiming to raise $80 billion to $100 billion. Its target valuation has been cut to $1.1 trillion–$1.3 trillion from as high as $2 trillion a month ago, with some buyers pricing it as low as $1.1 trillion. If successful, it would become the first publicly listed frontier model developer and the second-largest IPO in history after SpaceX.

The downgrade follows a sharp tech selloff: the Nasdaq 100 fell 6.4% in a single day, wiping out about $2.3 trillion in market value, while the Philadelphia Semiconductor Index dropped 12% over the same period. Growing concerns over AI capital expenditure returns and political opposition to data-center expansion in key states have further weighed on pricing. Anthropic's annualized revenue has grown to about $81 billion from $65 billion in late July, but tighter financing conditions forced CEO Dario Amodei to accept a lower valuation. The company earlier withdrew a filing for a $69.3 billion offering, citing inaccurate pricing details; that document revealed 866.7 million Class A shares at $70–$80 and $26 billion in private placement commitments from Google, Nvidia, Microsoft, and TSMC at the IPO price.

The IPO is seen as a critical test of AI valuation logic. OpenAI has similarly cut its funding target from $30 billion to about $20 billion, and non-frontier players like Nscale have seen valuations compressed to $16 billion–$19 billion, signaling a broad primary-market cooldown. Whether Anthropic can maintain its valuation edge over OpenAI will shape final pricing and set a benchmark for future AI listings.

LATEST/Anthropic has withdrawn its IPO filing for a $69.3 billion offering, citing inaccurate pricing details, and plans to refile. It still targets a Thanksgiving-week listing, with roadshow starting this week to set a valuation range now discussed at $1.1 trillion–$1.3 trillion, as investors gauge the AI sector selloff.

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Coverage timeline

Total 33 reports · Latest first
  4. IT之家 · IT业界T2·92 pts

    Anthropic Launches IPO Roadshow With Up to $64.35 Billion Raise

    • Base offering of 825 million shares at $70-$78, raising up to $64.35 billion, plus a 123.75 million share greenshoe option
    • A parallel $26 billion Class N placement to Google, Nvidia, AMD, Broadcom, Micron, Microsoft and TSMC lifts total proceeds to as much as $90.4 billion
    • Fully diluted valuation near $1.4 trillion, or about $1 trillion excluding options and restricted stock, led by Goldman Sachs and Morgan Stanley
  6. Rohan Paul (@rohanpaul_ai)T2·88 pts

    Anthropic Launches IPO Seeking Up to $64.4 Billion

    • Price range of $70-$78 implies up to $1.4 trillion valuation and about $64.4 billion raised, above OpenAI's $1.25 trillion private mark last week
    • Only 23.6 million shares come from existing holders, so nearly all proceeds fund the company rather than early investor exits
    • First formal declaration of crossing the RSP threshold for AI accelerating AI research, justified by expectations of future models rather than current evidence
    • Expected to begin trading on Nasdaq under ticker ANT as soon as next Thursday or Friday
  10. TechCrunch AIT2·88 pts

    Anthropic Sets IPO Range Valuing Company at Up to $1.4 Trillion

    • Price range of $70-78 per share implies up to $1.404 trillion fully diluted valuation, below the rumored $2 trillion target
    • Seven chip and cloud firms are privately buying $26 billion of non-voting stock at the IPO price, with Google and Nvidia at $10 billion each
    • Estimated net proceeds of $84.6-93.7 billion as the company proceeds despite cooling AI investment sentiment
  11. IT之家 · IT业界T2·88 pts

    Anthropic Sets IPO Range at $70-78 per Share Targeting $1.4 Trillion Valuation

    • Pricing at $70-78 per share raises up to $64.35 billion, implying a $1.405 trillion fully diluted valuation versus $965 billion in May
    • AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC will buy $26 billion of Class N shares at the IPO price, free of lock-up restrictions
    • First nine months revenue reached $33.24 billion, up about 1200% YoY, while the $104 billion net loss stems largely from convertible note fair-value changes
    • Post-midterm state ballot measures and rising rates are cooling AI infrastructure sentiment, with some investors doubting the $1.5 trillion target
  12. The DecoderT2·88 pts

    Anthropic Opens IPO Roadshow Targeting $1.02 Trillion Valuation

    • Price range set at $70–$78 per share, targeting up to $90.4 billion raised via public shares plus a private placement at a $1.02 trillion valuation.
    • Q3 revenue rose 47% year over year to nearly $17 billion with a narrower net loss, but growth slowed versus the prior quarter.
    • Roughly $900 billion in compute commitments with partners such as Amazon and Google weighs on the balance sheet amid rising skepticism over AI capex.
  15. Hacker News AIT2·88 pts

    Anthropic Launches IPO Roadshow Targeting Up to $64 Billion Raise

    • Offering comprises 825 million Class A shares, about 801 million newly issued by Anthropic and 23.6 million sold by existing stockholders
    • Expected price range of $70-$78 per share, plus a 30-day underwriter option for up to 123.75 million additional shares
    • Planned Nasdaq Global Select Market listing under ticker ANT, with Goldman Sachs among lead underwriters
  17. InfoQ 中文T2·88 pts

    Anthropic Pulls Nearly $70 Billion IPO Pricing Filing Hours Before Roadshow

    • The withdrawn filing covered about 866.7 million shares at $70-80, raising up to roughly $69.3 billion, including about 23.3 million shares sold by existing holders
    • Alphabet, Nvidia, AMD, Broadcom, Micron, Microsoft and TSMC would buy $26 billion of Class N shares at the final IPO price, closing immediately after the offering
    • Valuation expectations have been cut from $2 trillion to as low as $1.1 trillion, a decline of up to 45%
  24. 宝玉 (@dotey)T2·78 pts

    Anthropic IPO Valuation Expectations Slip to $1.2 Trillion, Halving in a Month

    • Buyer-side valuation fell from up to $2 trillion in early October to $1.2–1.3 trillion, with some at $1.1 trillion; the prospectus price is still unset
    • On Nov 5 the Nasdaq 100 fell 6.4% and the Philadelphia Semiconductor Index dropped 12%, with trend-following quant funds amplifying the slide
    • After the midterms, Democrats control both chambers and data-center-heavy states are pushing back on expansion, raising AI infrastructure policy risk
    • Anthropic's May private round valued it at $965 billion versus OpenAI's $1.25 trillion pre-money target; the valuation ranking fight may shape pricing
  27. IT之家 · IT业界T2·78 pts

    Anthropic Plans IPO Roadshow Next Week, Aims to List Before Thanksgiving

    • Anthropic plans to start its IPO roadshow next week, targeting a listing in the week of Nov 16 and completion before Thanksgiving
    • Prior expectations were a ~$1.5 trillion valuation and over $80 billion raise; some investors view the pricing as too high
    • Tech selloff and doubts over AI capex returns could compress the final valuation and deal size
  29. IT之家 · 智能时代T2·72 pts

    Anthropic IPO Valuation Cut to $1.5T as Investors Balk at Price

    • Valuation expectations slid from $2T to a $1.5-1.6T range, with some investors arguing for closer to $1T
    • The tech selloff, quarterly losses and AI infrastructure spending commitments are driving demands for a discount
    • The company still targets a listing in the week of Nov 16, with the roadshow continuing next week as investors await October revenue data
  30. 宝玉 (@dotey)T2·74 pts

    Ramp Data Shows Enterprise Token Usage Up 65% While Spend Stays Flat, Anthropic Valuation Cut

    • Enterprise token usage grew ~65% from August to mid-October while spend rose just 1.5%; blended OpenAI/Anthropic prices fell 27% in a month
    • Price cuts on GPT-6 Sol/Luna and Fable 5.1/Opus 5.5, plus budget controls and model routing, compress unit costs
    • Specialized discriminative models like Jev and open-source competition shift power to buyers, cutting Anthropic's expected IPO valuation to $1.2-1.3 trillion
  31. Hacker News AIT2·78 pts

    Anthropic IPO Valuation Talks Slip to $1.3 Trillion

    • Anthropic IPO valuation expectations fell from $1.4-1.5T to $1.2-1.3T within days, with some investors eyeing ~$1T
    • Nasdaq 100 dropped 6.4% in a single day, erasing ~$2.3T in market value as VIX hit its highest since April 2025
    • A successful listing would make it the first public frontier AI model developer and test top-tier demand amid a sector correction
  32. Rohan Paul (@rohanpaul_ai)T2·72 pts

    WSJ: Anthropic IPO Valuation Expectations Cut from $2T to $1.5T

    • Anthropic's expected IPO valuation was cut from about $2 trillion to $1.5 trillion, with some seeing $1 trillion as more realistic
    • The cut is driven by a $3.2 trillion selloff on data-center moratorium fears after the midterms, not by company performance
    • Anthropic's run rate topped $80 billion at end-October with $146.6 billion in cash; OpenAI's raise is also behind target