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Morningstar says Anthropic valuation could hit $4.3trn ahead of IPO

The Australian Financial Review (AFR) •
November 10, 2026 • 01:00 AM
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The research house has set its fair value at an optimistic $US1.7 trillion, well above recent market expectations, but its bull case is almost double.

Morningstar says Anthropic valuation could hit $4.3trn ahead of IPO

Anthropic, the developer behind artificial intelligence platform Claude, could be worth as much as $US3 trillion ($4.3 trillion) once the stock starts trading on Wall Street under the most bullish of scenarios, according to influential US research house Morningstar.

Morningstar published its report on Tuesday to coincide with the start of the AI giant’s roadshow for its highly anticipated initial public offering that is expected to hit the boards early next week.

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Same Story from Other Publications

Compare how 6 other independent news outlets reported on this story.

6 Publications
The Next Web (TNW)
1d ago
Anthropic IPO: ‘required to validate’ AI stock valuations, says Coben

Anthropic IPO: ‘required to validate’ AI stock valuations, says Coben

Bloomberg says the Anthropic IPO has drawn several times the orders on offer, as the founders sell $1.75bn and Europeans get to buy in.

#ipo #anthropic #valuation
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CNBC World
2d ago
The stock market 'dodged a real bullet' — Cramer on Anthropic's new IPO valuation

The stock market 'dodged a real bullet' — Cramer on Anthropic's new IPO valuation

"We get this deal done at a good price," Jim Cramer said Tuesday, adding that such an outcome would pave the way for a smoother market.

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TechCrunch
3d ago
Anthropic sets IPO price range of $70 to $78 per share to reach an implied valuation of $1.404 trillion | TechCrunch

Anthropic sets IPO price range of $70 to $78 per share to reach an implied valuation of $1.404 trillion | TechCrunch

The company could end up being worth a hefty $1.404 trillion if its shares list at the top of the price range, on a fully diluted basis.

#ipo #anthropic #valuation
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The Guardian
3d ago
Anthropic targets valuation of up to $1.4tn in stock market flotation

Anthropic targets valuation of up to $1.4tn in stock market flotation

Claude chatbot developer had been reported to be aiming for $2tn IPO on Wall Street before investors cooled on AI

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The Verge
3d ago
Anthropic targets $1.4 trillion IPO

Anthropic targets $1.4 trillion IPO

Anthropic’s public offering is expected to make it one of the world’s most valuable publicly traded companies as soon as next week.

#ipo #anthropic
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CNN International
3d ago
We’ve never seen anything like the Anthropic IPO | CNN Business

We’ve never seen anything like the Anthropic IPO | CNN Business

Anthropic’s debut on public markets will be unlike any that’s come before it, in ways that amount to either a once-in-a-generation opportunity — or a massive financial gamble, depending on whom you ask.

#ipo #anthropic
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