Anthropic's Pre-IPO valuation is IMPLODING: Prospective investors are now discussing a valuation of $1.2 trillion to $1.3 trillion, with some considering as little as $1.1 trillion. This is materially down from earlier expectations of $1.4 trillion to $1.5 trillion and marks a dramatic reversal from early October, when investors reportedly valued the AI company at as much as $2 trillion. The repricing follows a brutal tech selloff, with the Nasdaq 100 plunging -6.4% on Thursday and wiping out $2.3 trillion in market value, its largest daily market cap decline ever. Market weakness is not the only concern, as Anthropic faces slowing revenue growth, quarterly operating losses, and enormous financial commitments tied to its AI infrastructure expansion. Growing political scrutiny of data center development is adding another layer of uncertainty ahead of the planned IPO. Meanwhile, Anthropic’s implied pre-IPO valuation, based on speculative futures contracts traded on the decentralized crypto exchange Hyperliquid, has fallen ~ $340 billion since October 12th, to ~$1.6 trillion. Will surging pressure on Anthropic’s IPO valuation force the company to postpone its planned November listing?