anthropic

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The maker of Claude is looking to raise up to $64.4bn in one of the largest IPOs in history next week.

Anthropic is seeking a valuation of $1.4 trillion for its upcoming IPO, with the company looking to raise as much as $64.4bn in what would be one of the largest stock market debuts in history.

The company, which makes the Claude AI chatbot, launched its investor roadshow on Tuesday, with reported plans to go public next week.

According to its filing with the United States Securities and Exchange Commission (SEC) on Tuesday, Anthropic plans to offer 825 million shares priced between $70 and $78, giving it a valuation of up to $1.4 trillion when potential shares are included.

It has also secured $26bn in a separate private placement backed by some of the world’s largest tech companies, including Google, Nvidia, Microsoft and AMD.

The listing is being closely watched as a major test for how much investors are still willing to bet on AI companies, which have driven huge gains in tech stocks and the broader US market.

The $1.4 trillion valuation is lower than earlier estimates, which had suggested Anthropic could be valued between $1.5 trillion and $2 trillion, as concerns grow about the company’s enormous infrastructure spending and recent swings in AI stock prices.

Those concerns extend beyond Anthropic, with investors increasingly questioning whether AI companies can make enough money to justify their soaring valuations and sustain the boom.

Despite the uncertainty, Anthropic’s growth has been explosive.

The company reported revenues of $17bn in their third quarter, up from $1.4bn a year earlier, as its net losses narrowed. On Tuesday, Anthropic said it was on pace to generate about $81bn in annual revenue, $10bn higher than its estimate a month earlier.

The company credits its growth to the demand for Claude, including from industries like healthcare, financial services and legal services.

But to keep up with that demand, Anthropic has committed almost $900bn to computing costs with partners including Amazon and Google, a massive financial bet on continued demand for its product.

The IPO also lands in an uncertain political climate, with Democrats having just won control of both chambers of the US Congress in the midterm elections last week. The new Democratic-led House of Representatives and Senate have raised the prospect of more regulation of AI companies and new restrictions on the construction of data centres that power the technology.

AI stocks slid after the midterms, with the Nasdaq falling 5.5 percent on Thursday, its biggest one-day drop in more than a year. The selloff, also driven by declines at Nvidia, whose CEO was targeted by an alleged Chinese spy, wiped out trillions of dollars from the market.

Markets have since recovered some of those losses, though the Nasdaq dipped slightly below 1 percent on Tuesday. Some analysts argued the sell-off was an overreaction and that the election was unlikely to derail the expansion of data centres.

Anthropic, the AI company behind the Claude chatbot, is planning to raise up to $64bn (£48bn) when it lists its shares for sale on New York’s Nasdaq stock exchange.

The loss-making company said it will offer its shares for between $70 and $78 each in its initial public offering (IPO), which is expected to go ahead this month.

This would value Anthropic at between $1.1 trillion and $1.3 trillion which, although large, is below the $2 trillion some analysts had predicted weeks ago.

It is floating at a volatile time for AI firms. After last week’s US midterm elections, the Nasdaq fell sharply on concerns a Democrat-led Congress could slow development of AI and the buildout of data centres.

There are also wider fears over the billions of dollars being spent on AI and whether it will pay off.

In its most recent results for the six months to the end of June, Anthropic’s revenues jumped to $16.2bn from $1.1bn in the same period last year.

However, its pre-tax loss jumped to $80.7bn from $12.9bn.

Fiona Cincotta, a senior market analyst at City Index, said $64bn Anthropic wants to raise is “fairly bullish” within “the volatility [and] concerns towards AI that we’ve seen in sort of particularly last week”.

She told Reuters: “It’s showing that they are still sort of upbeat about the outlook as far as AI is concerned and that obviously that they think that the demand is going to be there.”

Anthropic (ANT) agreed to spend $3.4 billion to secure gas-fired generators through Texas supplier OnePWR Solutions, the Financial Times reported. The September transaction covers 1.7 gigawatts of generating capacity and includes engineering and construction capabilities to install the equipment.

Anthropic (

Anthropic (ANTHRO) plans to allocate 5% of its equity to a new fund designed to address the societal consequences of artificial intelligence, including potential job losses as businesses increasingly deploy AI-powered automation. The initiative, announced Sunday, comes as the developer of the Claude AI