Anthropic's IPO outlook cools as investors weigh lower valuation
Anthropic, maker of the Claude assistant, is still preparing its stock market debut, but revenue growth has slowed and investors want its target valuation lowered to $1.5 trillion.
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What happened
Anthropic, the AI company behind the Claude assistant, is preparing a planned stock market debut while its revenue growth has slowed from its previous quarter. Investors have since been pressing the company to cut its targeted valuation to $1.5 trillion.
Why it matters
Anthropic is one of the few large offerings still moving forward as the wider US IPO market slows.
Timeline
- Oct 14, 11:48 PM ET: Anthropic said its third-quarter revenue reached $16.8 billion ahead of its IPO.
- Oct 15, 7:23 AM ET: The company told investors it earned an adjusted profit on that revenue and could start marketing the IPO as soon as the week of Nov. 9.
- Oct 15, 5:05 PM ET: Some investors were reported to be pushing Anthropic to lower its IPO valuation to $1.5 trillion.
- Oct 16, 4:26 AM ET: Altimeter's Brad Gerstner predicted the IPO was weeks away and projected more than $500 billion in investor demand.
Coverage
- Anthropic’s $500 Billion Reality Check: When the AI Growth Curve Meets the Cost of Capital (Stephen Innes 🇨🇦 🇹🇭)
- Anthropic IPO Valuation Expectations Begin to Cool (https://www.facebook.com/ceotodaymag)
- Anthropic IPO Could Come in ‘Weeks, Not Months’ — Top Hedge Fund Manager Sees $500 Billion Demand, Draws… (benzinga.com)
- AI: Anthropic’s Mega Data Center Sprint ahead of its Mega-AI IPO. AI-RTZ #1241 (michaelparekh.substack.com)
- Anthropic's IPO valuation under scrutiny as investors weigh $1.5 trillion
- Anthropic nears mid-November IPO as Broadcom commitments and debt draw scrutiny
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