Anthropic Lowers IPO Valuation Target Amid Public AI Backlash

Anthropic is targeting an IPO valuation between $1 trillion and $1.5 trillion, down from an earlier $2 trillion estimate, amid shifting market sentiment and regulatory concerns. The adjustment follows midterm election results where voters across multiple states rejected 40 out of 41 data center-related ballot measures. Despite entering into nearly $900 billion in compute commitments, the company faces growing resistance over electricity costs and infrastructure expansion.