Anthropic presses on with IPO plans despite tech selloff, FT reports

what happened

According to the Financial Times, as relayed by Seeking Alpha, citing several investors, Anthropic is continuing preparations for a U.S. public listing and may agree to a valuation below earlier expectations. The company reportedly hopes to raise between $80 billion and $100 billion at a valuation of $1.25 trillion to $1.75 trillion, compared with its current $965 billion. That is well above today's figure but short of the doubled price some backers had hoped for a month ago.

The deal is coming as shares of AI-linked companies have fallen sharply. On Thursday the Nasdaq 100 dropped 6.4% on fears that the buildout of AI infrastructure could slow. Bloomberg reported that OpenAI, which has postponed its own IPO, closed a new private round of about $11 billion at a $1.25 trillion valuation.

Investors said Anthropic holds about $150 billion in cash and liquid assets and does not plan to sell equity again after going public. JPMorgan, which leads retail sales of U.S. company shares, will host a briefing for potential buyers on November 13. Anthropic declined to comment.

why it matters

For markets, the offering is a test of appetite for AI assets after a selloff. A valuation below earlier hopes would signal more cautious investors, while an $80–100 billion share sale would add a large new stock and could pull money from existing AI holdings. SpaceX's June IPO, at roughly $1.8 trillion, remains the benchmark for the largest listing ever.

market impact

US tech stocks: a large AI listing may lift sector sentiment but could draw capital from existing holdings

• ↔Nasdaq 100 mixed — a successful listing could lift sentiment, but a large share sale may pull money away

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