Investors trim valuation expectations on Anthropic IPO

Anthropic’s IPO gets a reality check: Investors now expect Anthropic to be valued at about USD 1.5 tn heading into its expected November listing, down from the c. USD 2 tn they’d been betting on, Reuters reports, citing people it says are familiar with the matter.

Why the dip? Anthropic’s sales are still growing, just more slowly. Revenue rose 45% quarter-on-quarter to USD 16.8 bn in 3Q, after more than doubling during the previous quarter. The Gulf angle: Abu Dhabi’s MGX and Qatar’s sovereign wealth fund are both Anthropic backers, as we noted last week.

Abu Dhabi takes its e-government global: The emirate wants to sell its one-stop government app to the world. It has launched TAMM Global, a private company that will license the AI-powered platform, which bundles 1.2k+ services, to other countries, The National reports. No buyers have been announced yet.