Anthropic's anticipated IPO valuation has reportedly fallen to $1.5 trillion, a 25% decrease from earlier expectations of $2 trillion. The AI company reported $16.8 billion in Q3 revenue, marking a 45% quarter-over-quarter increase, though this growth sharply decelerated compared to Q2 when revenue more than doubled. Anthropic also achieved adjusted profitability for the quarter. The revised valuation reflects investor concerns over slowing revenue growth and rising AI infrastructure costs, which could impact one of the most highly anticipated IPOs.