How Aswath Damodaran arrived at Anthropic’s $1.475 trillion valuation

Aswath Damodaran, Professor of Finance at New York University's Stern School of Business, has valued artificial intelligence (AI) company Anthropic at $1.475 trillion, putting it near the lower end of the $1.5 trillion to $2 trillion IPO valuation range discussed in his analysis. In a blog post published on October 28, 2026, Damodaran assessed the company's growth prospects, profitability, capital requirements, and risks following its prospectus filing on October 26. In his blog, Musings on Markets, titled “The Anthropic Prospectus Arrives: My (but not the) IPO Valuation!”, Damodaran examined the company's financial disclosures and outlined the assumptions underpinning his valuation. Revenue grows 14-fold, but growth slows Anthropic's revenue in the first two quarters of 2026 was approximately 14 times the level recorded in the corresponding period a year earlier.

First reported by Fortune India. This page is a short excerpt; the full text is theirs.