Noesion Radarnoesion.ai
Market2026-10-07

New Constructs called Anthropic’s planned IPO the most ridiculous of 2026. Anthropic reportedly seeks a $2 trillion Nasdaq valuation. New Constructs values it at $150 billion. The firm cites mounting losses and open-source competition. It says Anthropic lacks a viable business. Anthropic’s 2025 revenue was $4.6 billion with a $42 billion net loss. New Constructs compares the risk to WeWork’s failed IPO. Anthropic has not yet filed its prospectus publicly. The report questions Anthropic’s existential-risk warnings as an investment deterrent.

  • $2 trillion target valuation
  • $150 billion New Constructs valuation
  • $4.6 billion 2025 revenue
  • $42 billion 2025 net loss

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