一些熟悉情况的人士表示，鉴于其最新的财务披露，一些Anthropic的现有投资者及其即将进行的首次公开募股的潜在投资者正在权衡对这家人工智能公司给出更低的估值，这发生在人们对人工智能融资成本飙升的更广泛担忧之中。
Some current Anthropic investors and prospective investors in its upcoming initial public offering are weighing a lower valuation for the AI company after its latest financial disclosures, four people familiar with the matter said, amid broader concerns over the ballooning cost of financing AI.
三位知情人士表示，一些参加了Anthropic周三在旧金山举行的投资者日的投资者讨论了大约1.5万亿美元的估值，这比投资者此前对11月股票发行所预期的大约2万亿美元的估值大幅下降。
Some investors who attended Anthropic’s investor day on Wednesday in San Francisco discussed a valuation of around $1.5 trillion, three of the people said, a significant step down from the roughly $2 trillion valuation that investors had previously expected for the November share sale.
在周三的会议上，Anthropic向潜在的IPO投资者表示，其第三季度收入较上一季度增长45%，达到168亿美元，并且在该季度按调整后基准实现盈利。
At Wednesday’s meeting, Anthropic told prospective IPO investors that its third-quarter revenue jumped 45% to $16.8 billion from the previous quarter, and that it was profitable on an adjusted basis during the quarter.
知情人士补充称，虽然这些数据缓解了人们对开发人工智能系统巨额成本的一些担忧，但一些投资者对最新季度环比增长率放缓感到失望，因为Anthropic的收入从第一季度翻了一倍多，达到第二季度的116亿美元。这些人士要求匿名，因为他们未获授权就此事公开发表评论。Anthropic未能立即回应置评请求。
While those numbers assuaged some concerns about the massive costs of developing AI systems, some investors were disappointed by the slowing sequential growth rate in the latest quarter, as Anthropic’s revenue more than doubled from the first quarter to $11.6 billion in the second quarter, the people added. They spoke on condition of anonymity because they are not authorized to speak publicly on the matter. Anthropic did not immediately respond to requests for comment.
一些熟悉情况的人士表示，Anthropic的首次公开募股若受到较冷的欢迎，可能会对更广泛的人工智能市场造成压力，投资者认为该市场的短期前景在很大程度上取决于此次股票发行的成功，随后是OpenAI明年可能的上市。
A cooler reception for Anthropic’s IPO could weigh on the wider AI market, whose near-term prospects investors see as hinging largely on the share sale’s success, followed by OpenAI’s potential listing next year.
风向标IPO 投资者的担忧出现在全球金融市场因科技股抛售而动荡之际，这已经冲击了人工智能基础设施公司、芯片制造商以及所谓的“新云”提供商——这些公司广泛出租用于人工智能的算力。以英伟达支持的CoreWeave为代表的股票和债券在周四暴跌，反映出投资者对人工智能建设日益依赖借贷融资的担忧日益加剧。
BELLWETHER IPO The concerns from investors come as a tech selloff is roiling global financial markets and has hurt AI infrastructure companies, chipmakers and so-called neocloud providers that rent computing power for AI broadly. Shares and bonds of Nvidia-backed CoreWeave tumbled on Thursday, reflecting growing investor concern about an AI buildout that is increasingly being financed with borrowed money.
人工智能初创公司Anthropic的股票出售令人失望，可能会进一步加剧投资者对人工智能建设的担忧。
A disappointing share sale for Anthropic could further add to investor worries about the AI buildout.
数据中心运营商SB Energy上个月决定推迟上市，核技术公司Holtec Nuclear也撤回了公开上市计划，IPO市场近期遭遇了一些挫折。
The IPO market has suffered some setbacks recently, after data center operator SB Energy decided to delay its listing last month, while nuclear technology company Holtec Nuclear pulled its plans to go public.
周三在Anthropic位于旧金山的总部举行的会议上，与会者大多是该公司最知名的投资者，他们与首席执行官达里奥·阿莫代伊和财务主管克里希纳·拉奥会面。《信息》此前报道称，投资者正在考虑更低的估值。
During Wednesday’s meeting at Anthropic’s headquarters in San Francisco, attendees, mostly the company’s most prominent investors, met with CEO Dario Amodei and finance chief Krishna Rao. The Information earlier reported that investors were considering a lower valuation.
Anthropic由包括阿莫代伊和他的妹妹丹妮埃拉·阿莫代伊在内的前OpenAI高管于2021年创立，丹妮埃拉·阿莫代伊现任Anthropic总裁。该公司凭借其Claude系列模型，已成为领先的生成式人工智能开发商之一。公司的快速增长得到了Alphabet旗下谷歌和亚马逊的支持，这两家公司既是投资者，也是算力供应商和重要的分销合作伙伴，同时也是人工智能竞争对手。
Founded in 2021 by former OpenAI executives including Amodei and his sister Daniela Amodei, who is now Anthropic’s president, Anthropic has emerged as one of the leading generative AI developers with its Claude family of models. The company’s rapid growth has been underpinned by Alphabet’s Google and Amazon, which are simultaneously investors, suppliers of computing power and important distribution partners, as well as AI competitors.
路透社上个月报道，去年Anthropic的收入激增至近46亿美元，增长了十二倍，尽管该公司在运营层面亏损超过80亿美元（不包括主要与之前融资相关的各项负债减记）。在路透社去年9月独家获得的IPO招股说明书中，Anthropic勾勒出一幅愿景：人工智能将比工业化、电力和互联网更深刻地改变全球经济，尽管该公司报告2025年亏损420亿美元，并预计即将到来的人工智能建设将投入更多资金。
Last year, Anthropic’s revenue surged twelvefold to nearly $4.6 billion, even as the company lost more than $8 billion on an operating basis, excluding writedowns of various liabilities mostly tied to previous fundraising, Reuters reported last month. In its IPO prospectus seen exclusively by Reuters in September, Anthropic laid out a vision that AI will transform the global economy more profoundly than industrialization, electricity and the internet, even as it reported a loss of $42 billion in 2025 and projected more spending for the upcoming AI buildout.
该公司承诺在未来十年内至少投入5180亿美元用于云服务、算力和基础设施。
The company has committed to spending at least $518 billion over a decade for cloud services, computing and infrastructure.