Startups and VCUpdated November 11

Axios says growth, costs and a market selloff cooled Anthropic IPO expectations

Axios reports that Anthropic is targeting an IPO valuation of up to $1.4 trillion, about $600 billion below what investors envisioned months earlier. That is a target, not a final IPO valuation. Axios says slowing revenue growth, soaring infrastructure costs and a punishing market selloff tempered expectations. Annualized revenue reached $81 billion in October, while long-term commitments to chips, data centers and computing infrastructure climbed to nearly $901 billion.

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Coverage started November 11