WSJ: Anthropic IPO Valuation Expectations Cut from $2T to $1.5T
The Wall Street Journal reports that investors have cut Anthropic's expected IPO valuation from roughly $2 trillion to $1.5 trillion, with some calling $1 trillion more realistic. The repricing stems from a $3.2 trillion US stock selloff driven by data-center moratorium fears after the midterms, not from Anthropic's own numbers: its run rate exceeded $80 billion at end-October and it held $146.6 billion in cash on September 30. OpenAI's fundraising is similarly soft, having raised $11 billion of a $30 billion target at a $1.25 trillion valuation.
Full Report
Rohan Paul (@rohanpaul_ai) · 2026-11-06 14
WSJ: Investors have cut their expected Anthropic IPO valuation from about 1.5T, and some now say $1T is more realistic.
Its all about politics now after the midterm, rather than Anthropic’s own numbers.
Since midterm wins by democrats, the fear of data center moratoriums triggered a $3.2T selloff in US stocks.
Anthropic’s business is still growing, with its run rate above $80B at the end of October, so some investors want those results before assuming a cut.
Even a smaller raise of about 200B in cash, given the $146.6B it held on September 30.
OpenAI’s weak fundraising points the same way: it has raised 30B target at a $1.25T valuation, below what it first sought.
Because Google, Amazon and Nvidia are closely tied to Anthropic’s business, a delayed or repriced IPO could hurt valuations well beyond Anthropic.
