Epyhia.com reports that Anthropic's IPO valuation talks have dropped to $1.2–1.3 trillion as major investors balk, days after the Nasdaq 100's record 6.4% single-day fall on November 5, 2026. The company's amended S-1 shows $17 billion in third-quarter revenue, a $23.3 billion net loss, and $895.4 billion in compute commitments, while METR, granted 11 weeks of access, estimates its model capabilities are improving twice as fast as a year ago.