After the release of Kimi K3, the market has started dialing back expectations for Anthropic's IPO valuation.
According to Stock Analysis, which uses data from the private stock trading platform Hiive, Anthropic's implied valuation now sits at roughly $838.6 billion. That's 13.1% lower than the $965 billion figure from the company's last funding round in May — a difference of about $126.4 billion.
Other trading platforms are seeing similar moves. The Guardian reports that within days of the K3 launch, bets on IG's platform for Anthropic's eventual public valuation dropped by $232 billion.