Category: Technology News
Prospective investors in Anthropic’s planned stock market listing are now discussing a valuation of about 1.2 trillion to 1.3 trillion dollars, down sharply from the figures talked about only a month ago. Bloomberg reported the new range on 6 November 2026, citing a person familiar with the talks.
The range compares with 1.4 trillion to 1.5 trillion dollars that investors had indicated to the banks working on the deal before the sell-off in AI shares. In early October, discussions had reached as high as 2 trillion dollars. The Wall Street Journal reported that three major investors planning to take part in the offering said the price needs to come down, and one suggested a level closer to 1 trillion dollars.
No final valuation has been set, and the talks are continuing. Anthropic declined to comment.
What happened to the price
The repricing follows the worst session on record for the Nasdaq 100 in dollar terms. On Thursday, 5 November, the index fell 6.4 percent, wiping out about 2.3 trillion dollars in combined market value from its constituent stocks. Nvidia, the biggest AI stock, fell more than 9 percent that day.
Investors are also waiting on figures Anthropic has not yet provided. Its amended prospectus, filed with the US Securities and Exchange Commission on 2 November, leaves its October run-rate revenue blank — the filing reads “our Run-Rate Revenue was $ as of October 31, 2026.” The filing also includes no price range and no share count.
The company’s own numbers help explain the caution. In the amended filing, Anthropic disclosed third-quarter revenue of 16.956 billion dollars, up about 47 percent from the second quarter. It also disclosed purchase and lease commitments of about 895.4 billion dollars running to 2045, mostly for computing power and infrastructure.
The IPO so far
Anthropic, the AI company behind the Claude chatbot, filed its public prospectus on 26 October 2026 and plans to list on the Nasdaq under the ticker ANT. The formal roadshow, in which the company presents its case to big investors, was expected to start in the week of 9 November, with pricing the following week.
The company’s most recent primary funding round, a 65 billion dollar Series H in May 2026, set a post-money valuation of 965 billion dollars. A listing at 1.2 trillion to 1.3 trillion dollars would still be above that level, but below the 1.41 trillion dollar valuation tracked by Nasdaq Private Market.
Expectations about the listing timeline are also weakening. Prediction-market data shows the implied probability of Anthropic officially announcing an IPO before December fell from over 85 percent a week ago to 57 percent.
This is a follow-up to our earlier report on Anthropic’s IPO filing. That post covered the S-1, the Nasdaq listing plan and the 1.5 to 2 trillion dollar valuation talk of mid-October.
Sources: Bloomberg via AI Stock Wire, Le Private Banker and TradingKey; Wall Street Journal via Invest Clarity Path, 5-6 November 2026.
