Anthropic PBC, the developer of the Claude chatbot, is preparing for a blockbuster initial public offering. The company has launched its roadshow, setting a share price range between $70 and $78. This move aims to make Anthropic the first frontier artificial intelligence lab to go public, with plans to raise up to $90.4 billion through the IPO and private placement, including a regulatory filing seeking to raise as much as $64.4 billion.
While early reports suggested a target valuation of $2 trillion, the company is now seeking a valuation of up to $1.4 trillion, with some estimates placing it at approximately $1.3 trillion. If shares list at the top of the price range, the company could be valued at $1.404 trillion on a fully diluted basis. This debut is expected to occur roughly five months after Elon Musk took SpaceX public in a record offering.
The offering serves as a litmus test for investor confidence in the AI boom amid growing worries about its risks and a recent swoon in AI-related stocks. Anthropic is braving investor nerves linked to an Nvidia investigation and increased fears of AI scrutiny following massive Democratic gains in the US midterm elections. Despite these headwinds, the company is making the case to investors that now is the right time to go public.