Investors see Anthropic's IPO valued below $1.5 trillion, reports say

CNBC reports some investors now doubt even a $1.5 trillion valuation, with one calling it a stretch and one saying $1 trillion to $1.25 trillion is more likely. Anthropic had been looking toward $2 trillion and was privately valued at $965 billion in May. TechCrunch, citing Bloomberg, reports a low of $1.1 trillion. CNBC says the roadshow is expected next week and a Nasdaq debut under the ticker ANT is likely in mid-November.

Why it matters: The sharpest AI selloff in over a year is now setting the price of the largest AI public offering so far.

Earlier target

$2 trillion (reported)

Private valuation, May 2026

$965 billion

Investor estimates now

$1 trillion to $1.25 trillion, CNBC; as low as $1.1 trillion, Bloomberg via TechCrunch

Reports rely on unnamed investors, and their low-end figures differ.