# Some Anthropic Investors Discuss a Valuation Around $1.5 Trillion, Down From About $2 Trillion Expected, Reuters Reports

Times of AI Desk · 2026-10-16 · Frontier Labs

[https://timesof.ai/2026/10/anthropic-ipo-valuation-talk-1-5t-reuters](https://timesof.ai/2026/10/anthropic-ipo-valuation-talk-1-5t-reuters)

> Some current and prospective Anthropic investors are weighing a lower IPO valuation after its Q3 disclosures, Reuters reported on Oct. 15, citing four unnamed people. Three said some investor-day attendees discussed about $1.5 trillion, versus roughly $2 trillion previously expected. There is no price range or filing.

The slower quarter now has a price attached, at least in some investors' conversations. Some current Anthropic investors and prospective investors in its planned IPO are weighing a lower valuation after its latest financial disclosures, four people familiar with the matter told **Reuters** on **Thursday, October 15**. Some investors who attended Wednesday's investor day discussed a valuation of around **$1.5 trillion**, three of the people said, "a significant step down" from the roughly **$2 trillion** investors had previously expected for the November share sale.

## Why, according to the sources

Anthropic told prospective investors that third-quarter revenue rose 45% from the previous quarter to $16.8 billion and that it was profitable on an adjusted basis, Reuters reports; we covered [the investor-day figures](https://timesof.ai/2026/10/anthropic-q3-revenue-16-8b-adjusted-profit-investor-day) on October 15. Some investors were disappointed by the slowing sequential growth, the people said, after revenue more than doubled from the first quarter to $11.6 billion in the second.

Attendees, mostly the company's most prominent investors, met chief executive Dario Amodei and finance chief Krishna Rao, according to Reuters. Anthropic did not immediately respond. Reuters says The Information reported the lower-valuation discussions earlier.

Reuters frames the listing as a bellwether for AI financing, noting that CoreWeave's shares and bonds tumbled on Thursday. In August, The Information reported that Anthropic was [preparing super-voting shares for its founders](https://timesof.ai/2026/08/anthropic-supervoting-stock-ipo) ahead of the IPO.

## Limits

- Everything here comes from Reuters' unnamed sources. The CNA page used is Reuters' own text; other outlets carrying the same copy are not independent confirmation. The Information's report was not read.
- These are investor discussions, not a price range, filing or company statement. The roughly $500 billion gap between the two figures is our arithmetic.

## Sources

- [Reuters via CNA: Investors temper Anthropic IPO valuation expectations over revenue growth slowdown, sources say (October 15, 2026)](https://www.channelnewsasia.com/business/investors-temper-anthropic-ipo-valuation-expectations-over-revenue-growth-slowdown-sources-say-6464056)
- [Times of AI: Anthropic Q3 revenue, attendees say (October 15, 2026)](https://timesof.ai/2026/10/anthropic-q3-revenue-16-8b-adjusted-profit-investor-day)
- [Times of AI: Anthropic reportedly prepares founder super-voting shares (August 18, 2026)](https://timesof.ai/2026/08/anthropic-supervoting-stock-ipo)