New Constructs Slams Anthropic IPO: Valuation at $150B, No Viable Model

1 reports archived1 independent sourcesupdated 10/7/2026, 11:48:56 PM

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Independent research firm New Constructs valued Anthropic at $150 billion, far below the expected $2 trillion, labeling its upcoming IPO as 'the most ridiculous of 2026.' The report highlights a $42 billion net loss in 2025 and argues that open-source competition renders Anthropic's business model unviable. Having previously predicted WeWork's IPO failure, New Constructs warns that this valuation represents significant risk to public investors rather than wealth creation.

LATEST/Independent research firm New Constructs valued Anthropic at $150 billion, far below the expected $2 trillion, labeling its upcoming IPO as 'the most ridiculous of 2026.' The report highlights a $42 billion net loss in 2025 and argues that open-source competition renders Anthropic's business model unviable. Having previously predicted WeWork's IPO failure, New Constructs warns that this valuation represents significant risk to public investors rather than wealth creation.

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IT之家 · IT业界T2·Oct 7, 11:48 PM68 pts
New Constructs Slams Anthropic IPO: Valuation at $150B, No Viable Model
Original: New Constructs 给 Anthropic 估值 1500 亿美元，称其“2026 年最荒唐 IPO”
- New Constructs values Anthropic at $150 billion, significantly lower than the rumored $2 trillion target.
- Data reveals Anthropic had $4.6 billion revenue but a massive $42 billion net loss in 2025.
- The firm argues that rising open-source models squeeze closed-source profitability, making the business model unsustainable.
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