Anthropic IPO: investors push for $1.5T-$1.6T valuation, below ~$2T discussed
rohanpaul_ai · x · 2026-11-03
Per WSJ, big institutional investors want Anthropic's IPO priced at $1.5T-$1.6T, below the near-$2T discussed for months; last week's double-digit falls in Alphabet and Intel hardened that view.
Anthropic's amended prospectus shows Q3 revenue of $17B, up from $11.6B, but expenses rose faster, flipping a $974M operating profit into an operating loss—driven mainly by $5B of compute bought on short-term terms that cost far more than multiyear contracts. Longer-term commitments total $895.4B, almost all for compute/infrastructure, with $447.5B due before 2031. Some investors trust CFO Krishna Rao to price low enough for a first-day jump from $1.5T to $2T.
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