Investors temper Anthropic IPO valuation expectations over revenue growth slowdown
Some investors who attended Anthropic's investor day on Wednesday in San Francisco discussed a valuation of around $1.5 trillion, three of the people said, a significant step down from the roughly $2 trillion valuation that investors had previously expected for the November share sale.
Anthropic, the generative AI developer, is facing a more modest valuation expectation for its upcoming IPO after its latest financial disclosures raised concerns over revenue growth. Prospective investors have suggested a valuation of around $1.5 trillion, down from the previously anticipated $2 trillion. Despite a 45% jump in third-quarter revenue to $16.8 billion, the company's sequential growth rate in the latest quarter disappointed some investors, as revenue more than doubled from the first to the second quarter.
Anthropic's CEO, Dario Amodei, and CFO, Krishna Rao, addressed prospective IPO investors at a meeting on Wednesday in San Francisco. The AI market's prospects hinge largely on the success of Anthropic's share sale, followed by OpenAI's potential listing next year. The concerns come amidst a global tech selloff impacting AI infrastructure companies, chipmakers, and neocloud providers.
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