Stories
Research Firm Slams Anthropic IPO as the Most Ridiculous of 2026
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CNBC TV18•08-10-2026, 05:33
Research Firm Slams Anthropic IPO as the Most Ridiculous of 2026
- •Wall Street research provider New Constructs labeled Anthropic's upcoming IPO the most ridiculous of 2026, warning of unprecedented investor gullibility.
- •Anthropic is seeking a 2 trillion dollar valuation, but New Constructs values the AI giant at just 150 billion dollars, which is 92 percent lower.
- •The research firm noted that Anthropic would need to double Nvidia's trailing year profit to justify its desired valuation, despite reporting heavy operating losses.
- •New Constructs founder David Trainer has a history of correctly calling out overhyped IPOs, including WeWork and Allbirds in the past.
- •The firm cited mounting operating losses, intense competition from open-source models, and Anthropic's own warnings about catastrophic risks as reasons to avoid the IPO.
Key Questions Answered
Anthropic is seeking a $2 trillion valuation on the day it makes its debut on Wall Street.
Independent financial research provider New Constructs has valued Anthropic at $150 billion, which is 92% lower than the $2 trillion valuation the company desires.
According to a leaked copy of its prospectus, Anthropic reported a net operating loss of over $8 billion in 2025, while its overall losses soared to $42 billion.
