Research Firm Calls Anthropic's Upcoming IPO 'Unprecedented Test of Investor Gullibity'
CNBC reports: As Anthropic barrels toward a potential $2 trillion market cap on the Nasdaq, one research firm is valuing the artificial intelligence company at a mere $150 billion and says Wall Street is about to face an "unprecedented test of investor gullibility." In a report on Tuesday, independent financial research provider New Constructs called Anthropic's upcoming offering the "most…
A research firm has labeled Anthropic's upcoming IPO as an unprecedented test of investor gullibility. The AI company, which is set to potentially reach a $2 trillion market cap on the Nasdaq, is being valued at a mere $150 billion by New Constructs. New Constructs asserts that Wall Street is about to face an unusual and frightening challenge: valuing a company that some fear could threaten humanity.
To achieve its lofty valuation, New Constructs estimates Anthropic would need to generate double the profit of Nvidia, the world's most valuable tech company, whose net income over the past four quarters surpassed $190 billion. Meanwhile, Anthropic reported a $42 billion net loss in 2025, with revenue of $4.6 billion, according to Reuters.
The firm's report emphasizes Anthropic's mounting operating losses and the emergence of open-source models as reasons to avoid the IPO.
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