Anthropic reported third-quarter revenue of $16.8 billion, marking a 45% increase from the previous quarter, a slower growth rate compared to the revenue doubling observed between Q1 and Q2. The company, known for its Claude AI model family, achieved adjusted profitability, but some investors now believe the IPO valuation could be closer to $1.5 trillion rather than the initially anticipated $2 trillion. The previous funding round in May valued Anthropic at $965 billion, and current secondary market pricing suggests an increased probability of a market cap below $1.25 trillion at IPO close. Market participants will closely monitor upcoming financial disclosures in S-1 filings and SEC feedback, which could influence market perceptions.
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