Exclusive-Investors temper Anthropic IPO valuation expectations over revenue growth slowdown, sources say

New York, Oct 15 - Some investors in Anthropic's upcoming IPO are lowering their expectations after reviewing the company's recent financial results, according to four sources familiar with the matter. The potential valuation for the AI firm has dropped from an estimated $2 trillion to around $1.5 trillion, three of the sources revealed.

During Anthropic's investor day in San Francisco on Wednesday, the company disclosed a 45% increase in third-quarter revenue to $16.8 billion, with adjusted profitability for the quarter. However, some investors expressed disappointment at the slower sequential growth rate, as revenue more than doubled from the first to the second quarter, reaching $11.6 billion.

While these figures attempted to alleviate concerns about the high costs of developing AI systems, the slower growth rate left some investors wanting more. Anthropic's IPO could impact the broader AI market, which is closely watching the success of the share sale, with investors viewing it as a bellwether for the industry.