Anthropic Plans IPO Roadshow as Investors Discuss a $1.2 Trillion-$1.3 Trillion Valuation

Anthropic plans to begin its initial public offering roadshow this week as potential investors discuss a valuation of $1.2 trillion to $1.3 trillion for the artificial intelligence company.

Some buyers are considering a value as low as $1.1 trillion. Those discussions are below market expectations that had once reached $2 trillion. Before Thursday's selloff in U.S. stocks, a range of $1.4 trillion to $1.5 trillion was seen as reasonable.

Anthropic is proceeding without delaying the IPO despite the lower valuation range. Expectations have also been affected by a Democratic sweep of Congress and concerns that the government will increase scrutiny of data center expansion.

The company is also securing power infrastructure for its data centers. In late September, Anthropic obtained a $3.4 billion purchase commitment for 1.7 gigawatts of heavy-duty gas generators from Texas supplier OnePWR Solutions, along with the engineering and construction capabilities needed for installation. OnePWR had previously ordered the equipment from Caterpillar. Valuation discussions are not a final IPO price.