Some investors have downgraded Anthropic's IPO valuation to $1.5 trillion.

Some investors expect Anthropic's valuation to be below $1.5 trillion at the time of its IPO, with some suggesting it could further decline to $1 trillion. The company's target valuation when secretly filing documents with the SEC was $2 trillion. Anthropic refused to comment on this, and the company is expected to launch its roadshow next week.