Anthropic’s valuation could be slashed by $500bn
Investors jittery over AI giant’s slowing revenue growth despite $17bn turnover in the last quarter
Anthropic investors are considering slashing the company’s valuation by $500bn (£379bn) after its latest disappointing financial figures, according to a report.
Some investors who attended Anthropic’s investor day on Wednesday in San Francisco reportedly discussed a valuation of about $1.5tn (£1.1tn), Reuters reported, a significant step down from the $2tn (£1.5tn) valuation that had previously been expected for the November listing.
At that meeting, Anthropic announced revenue of nearly $17bn (£12.9bn) as it reportedly turned a profit last quarter.
But investors were reported to be disappointed by the tech giant’s slowing sequential growth rate and the inflated costs of AI infrastructure.
Investor jitters come amid broader concerns over the ballooning cost of financing AI and a tech sell-off that has swept Wall Street and Asian markets in recent days.
The tech giant told an investor meeting on Wednesday that its revenue had more than trebled since the first quarter of 2026, which was first reported by the Financial Times.
A cooler reception for Anthropic’s initial public offering (IPO) could weigh on the wider AI market, whose near-term prospects investors see as hinging largely on the share sale’s success, followed by OpenAI’s potential listing next year.
Anthropic declined to comment.
The global tech sell-off is roiling financial markets and in turn, hurting AI infrastructure companies, chipmakers and “neocloud” providers that rent computing power for AI broadly.
A disappointing share sale for Anthropic could further add to investor concerns about the profitability of AI.
The company’s most prominent investors attended Wednesday’s meeting and met with Dario Amodei, Anthropic’s chief executive, and Krishna Rao, its finance chief.
Founded in 2021 by former OpenAI executives, including Mr Amodei and his sister Daniela Amodei who is now Anthropic’s president, Anthropic has emerged as one of the leading generative AI developers with its Claude family of models.
The company’s rapid growth has been underpinned by Alphabet’s Google and Amazon, which are simultaneously investors, suppliers of computing power and important distribution partners, as well as AI competitors.
In its IPO prospectus, Anthropic laid out a vision that AI would transform the global economy more profoundly than industrialisation, electricity and the internet, even as it reported a loss of $42bn (£32bn) in 2025 and projected more costs.
The company has committed to spending at least $518bn (£393bn) over a decade for cloud services, computing and infrastructure.