Reuters reported Friday that prospective backers doubt Anthropic can proceed with a roadshow expected the week of Nov. 9, as a technology selloff intensifies concerns about the company’s valuation.
Citing four people familiar with investor discussions, Reuters said some prospective investors viewed a $1.5 trillion valuation as at the high end of expectations and were seeking a more attractive valuation to commit. Reuters previously reported that investors had expected a valuation as high as $2 trillion. Neither figure is an Anthropic target announced by the company.
Anthropic announced Oct. 26 that it had filed for a proposed listing on the Nasdaq Global Select Market under the symbol “ANT.” Its share count and price range remained undecided. A Nov. 2 amendment says the offering could begin promptly after the registration statement takes effect, but sets no roadshow or listing date. The amendment builds on disclosures in Anthropic’s earlier IPO filing.
The filing reported $33.242 billion in revenue and a $1.260 billion operating loss for the nine months ended Sept. 30, 2026. The $104.039 billion net loss included $94.324 billion tied to revaluations of convertible notes, derivative liabilities and SAFEs. The filing said a higher enterprise valuation between 2025 and 2026 primarily increased the value attributed to outstanding convertible promissory notes.
The filing lists roughly $895.4 billion in committed spending across agreements and leases in place as of Sept. 30, 2026, and those entered into afterward. Nearly all of that amount relates to compute and infrastructure. About $69.8 billion was due in the 12 months after Sept. 30.
Reuters also reported a two-day selloff in AI-related markets, with more than 50 S&P 1500 technology stocks falling at least 10% on Nov. 5. Anthropic said in June that its proposed offering depended on market conditions and other factors. The week of Nov. 9 remains the roadshow window reported by Reuters; Anthropic’s filing does not confirm a date.
