Anthropic's $1.5 Trillion IPO Valuation Faces Investor Doubt

Major investors increasingly doubt Anthropic's planned initial public offering can achieve its expected $1.5 trillion valuation following a sharp market selloff tied to withdrawals from AI-linked investments, according to people familiar with the matter. The IPO is scheduled for the week before Thanksgiving. Three large investors planning to participate believe the valuation will likely need to be cut, with one suggesting it could fall closer to $1 trillion. However, some want to see Anthropic's October financial results first, as its annualized revenue run rate exceeded $80 billion in late October. The company may also raise less capital than planned, possibly around $80 billion, and could delay the IPO for more favorable market conditions. The Nasdaq Composite lost $2.5 trillion in market value on Thursday following midterm election results favoring AI-skeptical candidates.