Anthropic IPO mega valuation: Top finance mind Aswath Damodaran estimates Claude maker's worth at $1.475 trn

What happened: Valuation expert Aswath Damodaran valued Anthropic, maker of the Claude AI models, at $1.475 trillion, below the lower end of the $1.5 trillion to $2 trillion range discussed for its anticipated IPO. Key numbers: Base case equity value $1.475 trillion. Why it matters: Damodaran warned the valuation could change significantly once shares trade, saying AI's presence in markets means it will be a roller coaster. He noted growth slowed in the third quarter of 2026 as OpenAI gained market share and computing capacity constrained expansion.

Valuation expert Aswath Damodaran valued Anthropic, maker of the Claude AI models, at $1.475 trillion, below the lower end of the $1.5 trillion to $2 trillion range discussed for its anticipated IPO.

Damodaran warned the valuation could change significantly once shares trade, saying AI's presence in markets means it will be a roller coaster. He noted growth slowed in the third quarter of 2026 as OpenAI gained market share and computing capacity constrained expansion.