Anthropic Targets Valuation of Up to $1.4 Trillion in Stock Market Flotation

The update

Anthropic, the developer of the Claude chatbot, is seeking a valuation of up to $1.4 trillion, according to a US regulatory filing on Tuesday reported by The Guardian. The BBC puts the range at $1.1 trillion to $1.3 trillion, from shares priced at $70 to $78. Both outlets say the company aims to raise up to about $64 billion, below the $2 trillion valuation previously expected.

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Why it matters

At that size, the listing would rank behind only SpaceX, valued at nearly $1.8 trillion when it listed in June. The lower target follows sharp falls for AI stocks after last week’s US midterm elections, amid concerns that a new Congress could slow data-centre building and that vast spending on AI infrastructure may not pay off.

What to watch

Trading could start as soon as next week, according to The Guardian, while the BBC says the flotation will happen this month. Investors will watch whether demand holds at the top price, and whether the separate $26 billion private placement with Alphabet and Nvidia, reported by The Guardian, is completed alongside the offering.

Sources

• theguardian.com — filing, $1.4 trillion top valuation, $64.4 billion raise and possible trading next week
• bbc.co.uk — $70 to $78 price range, $1.1 trillion to $1.3 trillion valuation and market context

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