Investors lower Anthropic valuation expectations ahead of IPO

Bloomberg reported on November 6, 2026, that potential buyers are lowering their valuation expectations for Anthropic ahead of its possible IPO, with estimates now ranging from $1.1 trillion to $1.2 trillion. The revised figures follow a market decline and contrast with earlier expectations of $1.5 to $2 trillion reported on November 5. Amazon's quarterly filing separately disclosed the fair value of its Anthropic preferred shares at $92.5 billion and convertible notes at $146.2 billion as of September 30, 2026. Amazon also reported a $62.8 billion increase in the fair value of its Anthropic holdings over nine months, alongside a $15 billion remaining credit facility. The company expanded its AWS collaboration with Anthropic by over $100 billion over ten years, while Google reportedly considers investing up to $40 billion.