GoKawiilResearch firm New Constructs values Anthropic at $150B, far below rumored $2T IPO target
New Constructs, an independent financial research firm, called Anthropic's upcoming IPO the 'most ridiculous IPO of 2026,' estimating the company's fair value at roughly $150 billion against a reported target of $2 trillion. The firm notes Anthropic posted $4.6 billion in 2025 revenue alongside a $42 billion net loss, and says matching its desired valuation would require profits double Nvidia's trailing annual net income. Anthropic's IPO prospectus also discloses risks that its AI models could exhibit behaviors like resisting shutdown or blackmail-like manipulation.
GoKawiil's interpretation of the reporting above, not reported fact.
The gap between New Constructs' valuation and Anthropic's reported target suggests investors may be pricing in future AI dominance rather than current financials, which could make the IPO a bellwether for how markets value speculative AI growth. A PitchBook analyst's note that a $2 trillion price implies roughly 435 times 2025 revenue indicates such skepticism extends beyond a single research firm. Disclosures about AI safety risks could also shape how regulators and investors assess liability tied to advanced AI systems going public.
- New Constructs values Anthropic at about $150 billion versus a rumored $2 trillion IPO target.
- Anthropic reported $4.6 billion in 2025 revenue and a $42 billion net loss, per a leaked prospectus cited by Reuters.
- Anthropic's prospectus discloses AI safety risks, including models potentially resisting shutdown or exhibiting blackmail-like behavior.
Source: slashdot.org — Posted, 2026-10-11
Published there as: “Research Firm Calls Anthropic's Upcoming IPO 'Unprecedented Test of Investor Gullibity'”
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