Research firm calls Anthropic the ‘most ridiculous IPO of 2026’, says it may be worth $144bn
THE SO WHAT
A public note arguing an AI lab could be worth 93% less than private marks — down to $144B from $2T — is a shot across the bow for late-stage AI valuations. CFOs at high-flying AI companies should be modeling scenarios where public markets heavily discount long-dated AGI cash flows.
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