Investors brace for a lower Anthropic IPO valuation, calling $1.5 trillion a 'stretch'

After this week's tech selloff, some investors are lowering their sights for Anthropic, CNBC reports. The AI company had been looking toward a $2 trillion valuation in its IPO until recently, but stakeholders told CNBC that even $1.5 trillion is now in doubt, with one investor calling that number a "stretch." The mood shifted with growing worries about AI companies' outsized spending and a sharp post-midterm slump: the Nasdaq fell more than 5% on Thursday, its steepest drop in 19 months, on fears that Democrats' new power in Washington and a nationwide rebuke of AI will slow the data center buildout. Anthropic is set to list on the Nasdaq under the ticker ANT, with a debut expected within weeks. As of May, it was privately valued at $965 billion. Whatever the final number, it would still be one of the largest listings ever attempted.