Anthropic pushes ahead with pre-Thanksgiving IPO despite tech selloff, accepts lower valuation
Despite the tech selloff, Anthropic is pressing ahead with its IPO at a valuation of $1.25 to $1.75 trillion, well below the hoped-for $2 trillion. The Claude developer aims to raise $80 to $100 billion before Thanksgiving. Rival OpenAI has also recently had to cut its valuation. The article Anthropic pushes ahead with pre-Thanksgiving IPO despite tech selloff, accepts lower valuation appeared first on The Decoder .
Anthropic pushes ahead with pre-Thanksgiving IPO despite tech selloff, accepts lower valuation
Anthropic is pressing ahead with its IPO despite the tech selloff, accepting a lower valuation. The Claude developer wants to go public before Thanksgiving and raise $80–100 billion at a $1.25–1.75 trillion valuation, according to investors cited by the Financial Times. That tops the current $965 billion but falls short of the $2 trillion the most optimistic investors had hoped for. Annualized reported revenue now sits at about $81 billion, up from roughly $65 billion at the end of July.
Rising borrowing costs and heavy AI spending plans triggered a tech selloff this week. Democrats winning the US midterms accelerated it because they had promised to slow data center construction, including other measures. The Nasdaq 100 dropped 6.4 percent on Thursday but recovered somewhat on Friday.
OpenAI also cut its funding-round target from $1.4 trillion to $1.25 trillion and recently raised only about a third of the $30 billion it originally sought.
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