Anthropic IPO investors are weighing a valuation as low as $1.2 trillion after a steep selloff in artificial intelligence stocks. The new discussions place the company below earlier estimates, while its planned November stock market debut faces uncertainty.
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Bloomberg reported on November 6 that prospective buyers were discussing a range of $1.2 trillion to $1.3 trillion. Previously, investors had considered $1.4 trillion to $1.5 trillion. The Anthropic IPO has no agreed valuation or final offering price.
According to a report, certain prospective investors have asked for a bigger discount before investing. The issue could raise up to $100 billion, although the figure is not yet finalized. Anthropic has chosen not to comment on the issues surrounding the timeline of the listing.
Why Anthropic IPO Valuation Expectations Fell
The Nasdaq-100 fell 6.4% on November 5 and erased about $2.3 trillion in market capitalization. The Nvidia stock tumbled because of the sale of technology stocks by investors. This fall called for a reassessment of prices assigned to AI firms.
Some investors started doubting if the anticipated profits at Anthropic were enough to justify its increasing costs related to its infrastructure. Political objections to building data centers and uncertainties were mentioned by Reuters as well. They were additional reasons for the Anthropic IPO discussions.
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Potential buyers wanted to know October revenue before choosing the right price. The last filing of Anthropic did not disclose such information. According to Reuters, investors were trying to determine whether it grew despite its previous decline.
What Anthropic’s IPO Filing Shows
The amendment filing of the SEC as of November 2 indicates the Nasdaq code ANT. Goldman Sachs and Morgan Stanley act as underwriters. The IPO prospectus of Anthropic does not specify either the offer price range or the number of shares.
The firm generated $33.24 billion in revenue in nine months to September 30. It is a rise of $2.55 billion from the corresponding period in 2025. The revenue for the third quarter amounted to about $17 billion.
It indicated a net loss of $104.04 billion for nine months in the filing. The vast part of this sum consisted of noncash adjustments to the accounts associated with financing. The operating loss was much smaller compared to the overall net loss.
The filing specified that $94.3 billion was caused by changes in fair values of financing instruments. An additional operating loss of $1.26 billion was identified for nine months. They are two different measures of losses.
It stated available liquidity of $146.6 billion as of September 30. It consisted of the cash balance, short-term investments, and credit facility utilization. Its financing position is significant in the view of the upcoming Anthropic IPO.
It committed $895.4 billion for computing and infrastructure expenses. About $69.8 billion was payable within one year from September 30. They are commitments that extend beyond the timeframe of the stock market offering.
When Could the Anthropic IPO Take Place
The road show was originally scheduled to kick off in the week of November 9. Price-setting would happen a week after that, according to Reuters. Potential investors have raised concerns over the achievability of that timeline.
A November listing is not yet officially ruled out. The timeline of Anthropic IPO depends on how interested potential investors are in the company and what terms of sale they agree on.
How Crypto Platforms Plan to Offer Exposure
The Bitget exchange also unveiled its subscription service in relation to the Anthropic IPO. The public offering is slated to launch on November 10 for eligible customers. Bitget reported that subscriptions will be based on the offering price and any fees.
The Ondo Finance exchange is also launching its tokenized version of Anthropic on the first day of its trading. This Ondo Stocks service is designed for eligible non-US investors.
Both crypto products do not dictate when Anthropic will list and how much its valuation will be at the time. The Anthropic IPO is still being talked about since it needs pricing after the market decline.
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Arslan Tabish is a Technical Reporter and Market Analyst at Tron Weekly with over five years of experience covering cryptocurrency markets and blockchain developments. His reporting focuses on Bitcoin, Ethereum, altcoins, and decentralized finance, alongside NFTs, crypto regulation, policy, and Web3 innovations.
Arslan covers blockchain technology, Layer 2 scaling solutions, and emerging use cases, including AI-driven crypto applications, while delivering clear market analysis on how technical and regulatory developments impact digital asset markets. His work is designed for both beginners and experienced readers, offering accurate, easy-to-understand reporting without speculation or investment guidance.
