Anthropic weighs IPO timing as tech sell-off and slowing AI spending hit valuation

Anthropic's planned November IPO faces uncertainty as a Wall Street technology sell-off and slowing corporate AI spending raise questions about its $1.5 trillion valuation, with some investors now discussing figures closer to $1 trillion. The Nasdaq 100 plunged 6.4% on Thursday, its biggest single-day drop on record, prompting prospective investors to reassess estimates from $1.2 trillion to $1.3 trillion or lower. Anthropic was expected to begin its investor roadshow the week of November 9, but market volatility complicates timing. Corporate AI spending growth slowed sharply, with token spending rising just 1.5% across August and September versus 42% monthly growth in July, though October recovered to 8.9%. Price cuts and enterprise discounts have made AI services more affordable, raising questions about revenue trajectories for model companies.