Anthropic IPO valuation reportedly pressured toward $1.5T–$1.6T amid infrastructure cost concerns

Institutional investors are reportedly pressing for an Anthropic IPO valuation of $1.5 trillion to $1.6 trillion, down from earlier expectations of about $2 trillion, over infrastructure spending concerns. Anthropic's amended S-1 lists $17 billion in third-quarter 2026 revenue, while compute and infrastructure spending rose to $18.81 billion from $4.38 billion. The IPO price range remains blank.