Anthropic Investors Reconsider IPO Valuation After Growth Cools
Investors discussed a $1.5 trillion valuation after Anthropic reported slower quarterly revenue growth and adjusted profitability.
Key takeaways
- Investors discussed a valuation near $1.5 trillion, below their earlier expectation of about $2 trillion.
- Anthropic reported third-quarter revenue of $16.8 billion, up 45% from the previous quarter.
- The company said it was profitable on an adjusted basis in the third quarter.
- Anthropic has committed to at least $518 billion in cloud, computing and infrastructure spending over a decade.
Some Anthropic investors are weighing a valuation of about $1.5 trillion for the company’s planned November IPO, down from roughly $2 trillion previously expected, according to four people familiar with the matter.
At an investor meeting in San Francisco on Wednesday, Anthropic told prospective investors that third-quarter revenue rose 45% from the prior quarter to $16.8 billion. The company also said it was profitable on an adjusted basis during the quarter.
Some investors remained concerned about slowing sequential growth. Revenue more than doubled from the first quarter to $11.6 billion in the second quarter, the people said. They spoke anonymously because they were not authorized to comment publicly.
A cooler reception for the offering could add to worries about the cost of financing AI development, the report said. Anthropic has committed to spending at least $518 billion over a decade on cloud services, computing and infrastructure.
Investors see the IPO’s success as important to the near-term outlook for the wider AI market, according to the report. OpenAI may also pursue a listing next year.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
