Anthropic IPO likely to fetch $1‑1.25 trillion as investors trim expectations

Investors are now expecting Anthropic's upcoming Nasdaq IPO to be valued between $1 trillion and $1.25 trillion, a significant downgrade from the $2 trillion range previously floated, CNBC reported.

What valuation are investors now targeting?

The consensus among unnamed investors is that a $1 trillion to $1.25 trillion price tag is more realistic, according to sources speaking to CNBC.

Why has sentiment shifted?

The downgrade follows a sharp sell‑off in technology stocks, a Nasdaq drop of more than 5% on Thursday—the steepest decline in 19 months—and growing worries about AI firms' high spending and a post‑midterm market slump, CNBC noted.

When is Anthropic expected to list?

Anthropic plans to list on the Nasdaq under the ticker ANT within weeks, with the company having previously sought a valuation as high as $2 trillion and a private valuation of $965 billion as of May, CNBC said.

Analyst Gil Luria of D.A. Davidson told CNBC that investors will likely demand a price at the low end of earlier expectations and that “the market really needs this IPO to go well,” emphasizing the need for a prudent pricing strategy.