Anthropic targets valuation around $1T in blockbuster AI IPO, below initial expectation

Anthropic, the artificial intelligence company behind the Claude chatbot, is seeking a valuation of up to $1. 02 trillion in a blockbuster initial public offering, falling short of earlier expectations as Wall Street grows increasingly cautious about the enormous costs fueling the AI boom. The San Francisco-based company plans to raise as much as $64.

4 billion through the sale of 825 million shares priced between $70 and $78 apiece, according to an amended Securities and Exchange Commission filing released Tuesday. Anthropic will also raise $26 billion through a separate private placement involving major technology companies, including Google, Nvidia, Microsoft and AMD, bringing the combined fundraising target to as much as $90. 4 billion.

JOE MANCHIN CALLS ON TRUMP TO FREEZE AI IPOS, CLAIMS PRESIDENT HAS 'POWER TO SAVE HUMANITY' The proposed valuation is significantly below the $1. 5 trillion figure previously discussed by prospective investors. At one point this year, investors had anticipated a valuation as high as $2 trillion, Reuters reported.

The reduced target comes amid growing concerns about whether AI companies can generate sufficient returns to justify their massive spending on chips, data centers and computing infrastructure. "What we are seeing is essentially a reassessment of Anthropic's value in a more challenging AI environment," Ipek Ozkardeskaya, senior analyst at Swissquote Bank, told Reuters. "The company continues to post impressive growth, but investors are increasingly focused on the cost of generating that growth," she added.

Still, some analysts view the proposed valuation as a sign of continued confidence in the AI sector despite recent market volatility. Fiona Cincotta, senior market analyst at City Index, described the offering as "fairly bullish," saying it suggests Anthropic remains optimistic about future demand for artificial intelligence. ANTHROPIC CEO CALLS ON AI INDUSTRY TO SLOW DOWN TECH RACE, DRAWING SUPPORT FROM ELON MUSK, SAM ALTMAN Anthropic's IPO filing revealed explosive revenue growth, with sales reaching $33.

2 billion during the first nine months of 2026, compared with $2. 5 billion during the same period last year. Third-quarter revenue climbed to approximately $17 billion, driven by growing adoption of its Claude AI models across industries including healthcare, financial services and legal services.