Anthropic investors push IPO valuation toward $1.5 trillion

Some Anthropic investors discussed a valuation of around $1.5 trillion for its planned November share sale at the company's investor day, down from roughly $2 trillion previously expected, Reuters reported.

Why it matters: A cooler valuation for one of the two leading AI labs would reset expectations across the sector ahead of a possible OpenAI listing next year.

Data as of Thursday, October 15, 2026, 17:47 ET. Reuters report read in full via Investing.com via live browser; it rests on four unnamed people familiar with the matter and Anthropic did not comment, hence grade C.

Some investors at Anthropic’s investor day in San Francisco on Wednesday discussed a valuation of around $1.5 trillion for the company’s planned November share sale, a step down from the roughly $2 trillion previously expected, Reuters reported, citing people familiar with the matter. Anthropic told prospective investors that third quarter revenue rose 45 percent to $16.8 billion and that it was profitable on an adjusted basis.

The disappointment, according to the report, was the slowing sequential growth rate: revenue had more than doubled from the first quarter to $11.6 billion in the second. Investors are also weighing the borrowed money cost of financing the AI buildout, which has committed Anthropic to spend at least $518 billion over a decade on cloud services, computing and infrastructure.

Anthropic investors push IPO valuation toward $1.5 trillion

Sources