Anthropic plans to launch its initial public offering before Thanksgiving while accepting a reduced valuation amid a broader technology sell-off. The company aims to raise between $80 billion and $100 billion, valuing itself at $1.25 trillion to $1.75 trillion according to investors cited by the Financial Times. This figure exceeds the current $965 billion valuation but remains below the $2 trillion target some optimists had hoped for. Reported annual revenue sits at approximately $81 billion, an increase from roughly $65 billion at the end of July.
Market conditions have tightened due to rising borrowing costs and heavy spending on artificial intelligence infrastructure. Political developments also contributed as Democrats winning the US midterms accelerated the downturn with promises to slow data centre construction. The Nasdaq 100 dropped 6.4 percent on Thursday before recovering somewhat on Friday. OpenAI similarly adjusted its funding goals from $1.4 trillion to $1.25 trillion after raising only about a third of the $30 billion it originally sought.
- Valuation range is $1.25 to $1.75 trillion
- Target raise is $80 to $100 billion
- Annual revenue is approximately $81 billion
