My reason is their revenue chart is flattening.

https://techstartups.com/2026/10/15/anthropics-q3-revenue-hi...

I am technically not saying that. I am taking off from the parent comment and speculating.

Their data from September is leaked via IPO preview, and October is not yet complete, so how can someone even project that?

// I am a techie, not a finance guy, so apart from public chatter, no inside knowledge.

And I do feel their IPO is being rushed before anyone has enough information to make up their mind. The VCs or private equity have given them a lot of money and want to cash out. When the revenue does slow down, any investor should pause to take a look at whether they can right the ship, or has the landscape itself changed.

I don't have the numbers in front of me but could have sworn I had seen quarterly revenue growth rates dropping drastically over the last year or so. Still a strong growth rate, but much lower than prior growth rates.

Edit: Data because silent down votes are useless, Anthropic Q2 2026 grew 147% while Q3 grew 45%