Anthropic presses ahead with its IPO anyway — $80–100B at $1.25–1.75T before Thanksgiving

Anthropic is pressing ahead with its IPO despite this week's tech selloff, accepting a lower valuation to get the listing done: it wants to go public before Thanksgiving and raise $80–100 billion at a $1.25–1.75 trillion valuation, according to investors cited by the Financial Times. That tops its current $965 billion private valuation but falls well short of the $2 trillion the most optimistic backers had hoped for.

The numbers underneath keep climbing even as the price comes down: annualized reported revenue is now about $81 billion, up from roughly $65 billion at the end of July. The selloff was triggered by rising borrowing costs and heavy AI spending plans, accelerated by Democrats winning the US midterms on promises to slow data-center construction; the Nasdaq 100 dropped 6.4 percent on Thursday before recovering somewhat on Friday.

The comedown is industry-wide: OpenAI also cut its funding-round target from $1.4 trillion to $1.25 trillion and raised only about a third of the $30 billion it originally sought. Anthropic has issued no statement confirming the timetable, valuation, or share price, and a spokesperson declined to comment — so the Thanksgiving listing remains a reported plan, not a done deal.