# Investors balk at Anthropic's $1.5 trillion IPO price, and one floats $1 trillion

> Anthropic is still losing money, October revenue is missing from its updated S-1, and the midterm data center votes set off a tech selloff. Its roadshow may slip.

- URL: https://devisdead.ai/news/investors-balk-at-anthropic-s-1-5-trillion-ipo-price-and-one-floats-1-trillion
- Published: 2026-11-06T12:55:13Z
- Author: DevIsDead Newsroom
- Section: Startups & Money
- Tags: anthropic, ipo, valuation, markets
- Originally reported by The Decoder (https://the-decoder.com/anthropics-1-5-trillion-ipo-hits-resistance-as-investors-balk-at-valuation/).

The biggest AI IPO of the year is running into a wall of skeptical investors. Anthropic's plan to go public at a $1.5 trillion valuation is meeting resistance, and potential backers doubt its roadshow can start next week as planned, Maximilian Schreiner reports for [The Decoder](https://the-decoder.com/anthropics-1-5-trillion-ipo-hits-resistance-as-investors-balk-at-valuation/), citing Reuters.

## Shrinking numbers

As recently as September, Anthropic was eyeing as much as $2 trillion. Now some investors think $1.5 trillion is too high, and one reportedly floated $1 trillion. Their argument: Anthropic still loses money and is burning cash to build out AI infrastructure, so it should come with a bigger discount. They also want October revenue figures, which the updated S-1 filing leaves out. The Wall Street Journal reports similar skepticism.

## The election didn't help

This week's midterms added to the pressure. Ballot measures limiting data center expansion passed in several states, and that triggered the sharpest tech selloff in a year. Investors buying into an AI lab are, in part, buying its ability to build compute, and voters just made that harder.

If AI stocks stay down, Anthropic could push the offering back. Some estimates put its size at up to $100 billion. A delay could rattle confidence in the wider AI sector.

## Benchmarks vs. vibes

Details are thin here: the reports don't say how much Anthropic is losing, and the October numbers investors want aren't public. What is clear is the direction. The market's question for AI labs has shifted from how big can this get to when does it pay for itself, and the answer is being priced in real time.

For developers, a delayed IPO doesn't change your API key. But the pressure behind it, to show revenue that covers the compute, tends to show up later as pricing changes, tighter rate limits and a sharper push for enterprise contracts.

**[Scoreboard](/scoreboard) update:** Humans +1. Investors push back on the AI hype price tag and knock $500 billion off the talk.

Stay undead.