Investors brace for lower Anthropic valuation, calling $1.5 trillion a ‘stretch’

Investors have lowered their expectations for Anthropic’s planned IPO after a sharp technology sell-off raised doubts about the company’s potential valuation. A figure of $1.5 trillion, once seen as below the reported $2 trillion target, is now described by one investor as a “stretch”, reflecting concerns about AI firms’ spending and a weaker market.

Anthropic was privately valued at $965 billion in May and is expected to list on Nasdaq under the ticker ANT in the coming weeks. One investor now sees $1 trillion to $1.25 trillion as a more likely range, though market conditions could change; the company is expected to begin its roadshow next week. The Nasdaq fell more than 5% on Thursday, its steepest drop in 19 months, amid concerns about data centre investment and broader market sentiment.