Anthropic pushes ahead with IPO despite sharp sell-off: roadshow could start as early as Tuesday, valuation may be cut by another 20%

Anthropic is pushing ahead with its IPO despite a sharp selloff in AI stocks, with roadshow meetings slated for this week and trading targeted for Thursday or Friday next week under the ticker "ANT" on Nasdaq. The company, which filed publicly on October 26, has seen its valuation expectations cut to roughly $1.2 trillion–$1.3 trillion from about $1.5 trillion a week ago, with some potential investors discussing a figure as low as $1.1 trillion, down from earlier talk of around $2 trillion. Goldman Sachs and Morgan Stanley are leading the offering, which Reuters reports could raise as much as $100 billion. The IPO is a bellwether for AI-sector valuations after the Nasdaq lost $2.5 trillion in market value in a single day and the VIX spiked above 25, while rival OpenAI raised less than half its target in its latest round. Anthropic's third-quarter revenue reached $16.956 billion, up 1,127% year over year but only 47% quarter over quarter versus 144% in the second quarter, and it posted a $5.67 million operating loss and a $23.291 billion net loss amid roughly $5 billion in short-term compute costs and $895.4 billion in total compute and infrastructure commitments. Investors will press on October revenue, enterprise usage and compute-cost control during the roadshow, with the final pricing set to shape how public markets value frontier AI.