Anthropic Lowers Valuation Target for IPO

AI startup Anthropic has revealed it is proceeding with an initial public offering (IPO). The company has reduced its initial corporate valuation target of $2 trillion to $1.25-1.75 trillion and plans to raise $8-10 billion in funding, aiming to complete the fundraising before Thanksgiving.

Anthropic is a leading generative AI company known for its Claude series and has rapidly increased its presence in recent years. However, this IPO preparation coincides with a market environment where technology stocks are being sold off, forcing the company to accept a lower valuation than initially anticipated. The decision to proceed with the IPO despite market headwinds suggests an urgent need for capital.

OpenAI, a competitor in the AI industry, has also reportedly reduced its valuation in its latest fundraising round. The fact that both companies were forced to adjust their valuations during nearly the same period is noteworthy as an indicator that investors' eyes are becoming more critical toward AI startups across the board.

AI company valuations have traditionally been set very high, reflecting expectations for future revenue. Anthropic in particular continues large-scale research and development investments and is known to have a business model requiring substantial capital. In this sense, fundraising through an IPO is positioned not merely as a listing procedure, but as a critical phase in securing a financial foundation to support future business operations.

On the other hand, the valuation reduction does not necessarily mean diminished appeal to investors; it also represents an adjustment to more realistic levels. If stock performance and actual business results support the company after listing, a recovery in valuation is possible. However, if market conditions remain unstable, it cannot be ruled out that the fundraising amount may fluctuate further.

Key points to watch going forward include whether the fundraising with a specific pre-Thanksgiving deadline is completed as planned. Additionally, alongside the developments of competitor OpenAI, it serves as a barometer for measuring the feasibility of large-scale IPOs in the AI industry and the degree of market acceptance. At a time when investment enthusiasm for AI is cooling, how Anthropic's IPO is received will likely have implications for the direction of the entire industry.