Wall Street Questions Anthropic's $2 Trillion Valuation as Data Center Costs and Interest Rates Rise

Wall Street investors are pushing back on AI company valuations as rising interest rates sharpen concerns about the mounting cost of data center buildout. Some investors argue that Anthropic, which raised $65 billion at a $965 billion valuation in May 2026, should be valued closer to $1.5 trillion rather than the $2 trillion that underwriters and some market participants have floated for an anticipated initial public offering.