Anthropic Pushes Pre-Thanksgiving IPO, Accepts Lower Valuation
Anthropic is proceeding with a pre-Thanksgiving IPO despite a tech selloff, targeting $80–100 billion in proceeds at a $1.25–1.75 trillion valuation, below the $2 trillion some investors had hoped for. Annualized revenue has climbed to about $81 billion from roughly $65 billion in late July, even as tightening financing conditions led OpenAI to trim its own funding target.
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Anthropic pushes ahead with pre-Thanksgiving IPO despite tech selloff, accepts lower valuation
[Matthias Bastian](https://the-decoder.com/author/matthias-bastian/) [View the LinkedIn Profile of Matthias Bastian](https://www.linkedin.com/in/matthias-bastian-128b71b1/) Nov 7, 2026 Anthropic is pressing ahead with its IPO despite the tech selloff, accepting a lower valuation. The Claude developer wants to go public before Thanksgiving and raise $80–100 billion at a $1.25–1.75 trillion valuation, according to investors cited by the Financial Times. That tops the current $965 billion but falls short of the $2 trillion the most optimistic investors had hoped for. Annualized reported revenue now sits at about $81 billion, up from roughly $65 billion at the end of July.
Rising borrowing costs and heavy AI spending plans triggered a tech selloff this week. Democrats winning the US midterms accelerated it because they had promised to slow data center construction, including other measures. The Nasdaq 100 dropped 6.4 percent on Thursday but recovered somewhat on Friday.
OpenAI also cut its funding-round target from $1.4 trillion to $1.25 trillion and recently raised only about a third of the $30 billion it originally sought.