Capital · United States

Investors brace for lower Anthropic valuation, calling $1.5 trillion a 'stretch'

Credited to CNBC · cnbc.com · 1h ago

Following tech's selloff on Wall Street this week, some investors are lowering their expectations for Anthropic.

The artificial intelligence company had been looking toward a $2 trillion valuation in its IPO up until recently, but stakeholders told CNBC that even $1.5 trillion is now in doubt, with one investor calling that number a "stretch."

The change in sentiment comes alongside growing concerns about the outsized spending by AI companies and a sharp post-midterm slump in the market. The Nasdaq plummeted more than 5% on Thursday, its steepest drop in 19 months, reflecting fears that Democrats' newfound power in Washington, D.C., and a nationwide rebuke of AI will lead to a slowdown in the buildout of data centers.

Bearishness on the AI trade was on the rise before the election. The Nasdaq suffered its worst month in October since March 2025, led by declines in chipmakers and neoclouds.

Anthropic is set to list on the Nasdaq, under the ticker ANT, and is gearing up for an expected debut in a matter of weeks. Last month, Anthropic was reportedly seeking a valuation as high as $2 trillion. As of May, the company was privately valued at $965 billion.

With the latest market turmoil, one investor said $1 trillion to $1.25 trillion is a more likely valuation target, although that could change with market conditions. The investors asked not to be named because they're not authorized to speak about the matter.

Gil Luria, an analyst at D.A. Davidson, told CNBC that, "Investors will expect the IPO to be priced at least at the low end of previous expectations."

"The market really needs this IPO to go well and the bankers on the deal surely understand that," Luria said. "The best way to set Anthropic up for success is to price the deal well."

The company is expected to kick off its roadshow next week.

WATCH: Some Anthropic investors now skeptical of $1.5 trillion valuation

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CapitalUnited States

Anthropic IPO Buyers See Valuation as Low as $1.1 Trillion

Credited to Bloomberg$ · bloomberg.com4h ago

Useful

Anthropic PBC’s initial public offering plans ran into a punishing post-election selloff, prompting a rethink among prospective investors of the company’s expected valuation. Bloomberg's Anthony Hughes joins to discuss. (Source: Bloomberg)

View the article · $Bloomberg

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Capital · United States

OpenAI introduces GPT-6 Cyber under its Critical preparedness rating

Credited to Rackline · Sarah Chen · openai.com · 2h ago

OpenAI on Nov. 5 introduced GPT-6 Cyber, a cybersecurity model the company classifies as Critical under its own Preparedness Framework, up from High for GPT-5.6 Cyber. OpenAI said the system is meant to find and validate exploitable vulnerabilities inside the scope researchers set.

The company said GPT-6 Cyber outperforms GPT-5.6 Cyber on its cybersecurity benchmarks. On ExploitGym, which tests whether a model can exploit a specified vulnerability in a remote target, OpenAI reported a 48.5% score for GPT-6 Cyber, up from 32.1% for GPT-5.6 Cyber. Those scores are OpenAI's own lab results, not an independent assessment.

Access runs through Daybreak, OpenAI's defender program. Daybreak Blue is aimed at verified defenders who validate vulnerabilities and fixes with fewer refusals. Daybreak Red enables deeper authorized security testing with GPT-6 Cyber. GPT-6 Cyber is initially available through the API and Codex to a select group of approved Daybreak Red customers. OpenAI said it will expand access to all Daybreak Red customers and is making GPT-5.6 Cyber available to all of them.

A new track inside Daybreak Red, Daybreak Red for Critical Infrastructure, gives approved critical-infrastructure defenders permission to run authorized testing of critical systems while retaining OpenAI's stated safeguards against model misalignment. OpenAI's $1 billion Daybreak for Frontline Defenders grant program subsidizes access for resource-constrained teams such as government organizations and essential-service providers.

OpenAI partnered with Dragos to evaluate cyber-permissive Daybreak Red models on a mock power-plant operational-technology range. The company said it used Dragos's feedback to refine safeguards so harmful assistance is blocked without cutting off authorized testing, and that it has increased threat investigations aimed at model use involving operational technology and industrial control systems.

OpenAI said it paired the stronger cyber capabilities with stronger misuse detection, including monitoring of whether actions match the user's authorization and checks meant to block high-risk assistance involving critical systems. The company recommended sandboxing, action review and human oversight for high-risk workflows. Those controls are company-stated deployment practices, not guarantees of safe outcomes.

The Nov. 5 post does not name a general-availability date, a list price or a full customer roster beyond the select Daybreak Red group already approved for GPT-6 Cyber. New users and organizations can apply for Daybreak, OpenAI said.