Anthropic IPO valuation expectations cut as revenue growth slows

The disclosed figure is best read as a sentiment marker rather than a priced outcome: expectations discussed at an investor day are not commitments, and the gap between the two cited numbers says more about how quickly AI financing assumptions are being repriced than about Anthropic specifically. The signal extends beyond this one listing, since the same cost-of-capital pressure applies to any capital-intensive AI issuer coming to market. Whether the revised expectation holds through the listing, or moves again as more financial data surfaces, is the open question.