Anthropic is continuing to prepare for a public offering before Thanksgiving while technology stocks face a selloff. The company, which develops Claude, is reportedly willing to accept a valuation below what its most optimistic investors had anticipated.
A large offering amid a market pullback
Investors cited by the Financial Times say Anthropic wants to raise $80–100 billion through its IPO, at a valuation of $1.25–1.75 trillion. That range would be higher than the current $965 billion, but below the $2 trillion valuation some of the most optimistic investors had hoped for.
The difference matters because the planned offering is advancing in a less favorable market. Anthropic’s reported target suggests it is still pursuing a major public debut, while adjusting expectations to account for investor appetite and the broader pressure on technology shares.
Revenue growth supports the IPO plan
Anthropic’s annualized reported revenue now stands at about $81 billion, according to the source article. At the end of July, it was roughly $65 billion. That increase provides context for the company’s ambitions as it considers a public listing.
Revenue growth and valuation are related parts of the IPO story, but they are not the same measure. The revenue figure describes the reported pace of business; the valuation range reflects what investors may assign to the company in a public offering. The source does not specify how the revenue estimate was calculated or what assumptions underpin the proposed valuation.
Why technology stocks are under pressure
The market backdrop has shifted as borrowing costs rise and companies outline heavy spending plans for artificial intelligence. Those factors contributed to a technology selloff this week. The article also says Democrats’ victory in the US midterms accelerated the decline because they had promised to slow data center construction, among other measures.
The Nasdaq 100 dropped 6.4 percent on Thursday, then recovered somewhat on Friday. The movement illustrates the uncertainty facing technology companies as investors weigh financing costs, AI investment and policy signals. For a prospective issuer, a volatile market can make the timing and terms of a public offering more consequential.
OpenAI’s funding plans show the strain
Anthropic is not the only AI company whose fundraising expectations have shifted. OpenAI cut its funding-round target from $1.4 trillion to $1.25 trillion. The source also reports that it recently raised only about a third of the $30 billion it originally sought.
These developments point to a more cautious funding environment for AI businesses, even as Anthropic presses ahead with its IPO plans. The company’s proposed raise and valuation remain targets reported by investors, rather than a completed offering. Its next steps will unfold against a market still reacting to the cost of capital, ambitious AI spending and concerns about data center expansion.