Anthropic has downsized plans for its upcoming initial public offering (IPO) amid stock market turmoil and a public backlash against artificial intelligence (A.I.).
In an amended regulatory filing, Anthropic said that it plans to sell 825 million shares at a price ranging between $70 U.S. and $78 U.S. each.
The high end of that range would enable Anthropic to generate $64.35 billion U.S. in proceeds from the IPO at a valuation of $1.40 trillion U.S.
That’s much less than the $100 billion U.S. the company initially hoped to raise at a $2 trillion U.S. valuation.
Anthropic was last valued at $965 billion U.S. in a funding round this May.
The reduced valuation comes amid a volatile stock market and uncertain political environment. Markets have been seeing big swings following last week’s midterm congressional elections.
The technology-heavy Nasdaq index on which Anthropic plans to list its shares has risen and fallen sharply since the left-leaning Democrats won control of Congress in the midterms.
At the same time, there are concerns that Democrats in Congress and at the state level could enact measures to slow the A.I. buildout, particularly the construction of data centres that Anthropic relies on.
Anthropic’s IPO has also been reduced amid signs of slowing growth at the company, with its revenue easing throughout this year.
The company’s IPO prospectus showed that it generated $33.24 billion U.S. in revenue during the firs nine months of 2026, up 1,200% from the same period last year.
Anthropic remains unprofitable and reported a $104 billion U.S. net loss through Sept. 30 of this year.
The startup company plans to go public on the Nasdaq exchange by the end of November under the ticker symbol “ANT.”
Tech Insider
