Wall Street Questions Anthropic's $2 Trillion IPO as Rising Rates Sharpen Cost Concerns

Investors are pushing back on artificial-intelligence startups' sky-high valuations as climbing interest rates drive up the cost of data centers and debt, with some questioning whether Anthropic's proposed $2 trillion IPO valuation can be justified. Earlier price targets floated by investment bankers have prompted skepticism, with some investors arguing the company should be valued closer to $1.5 trillion instead, according to reports from institutional investors and venture capitalists tracking the planned offering scheduled for October 2026.