Anthropic targets $1.3 trillion valuation in planned IPO

Anthropic has set a proposed price range of $70 to $78 per share for its initial public offering, a filing on November 10 showed. The company plans to sell 825 million shares, a sale that could bring in between about $57 billion and $64 billion and imply a valuation of roughly $1.3 trillion.

At the midpoint of the range, the offering would raise more than $61 billion. Anthropic is expected to begin trading this month on Nasdaq's top listing tier, with the symbol ANT.

The IPO could become the largest on record, surpassing the $86 billion raised by SpaceX in its June offering. It would also put Anthropic ahead of rival AI developer OpenAI in entering public markets.

Anthropic’s revenue topped $16 billion in the first half of this year, 14 times the amount for the same period a year earlier, a filing last month showed. The company has not yet become profitable, amid heavy costs for developing AI systems. Anthropic, OpenAI and SpaceX’s AI business are all spending more than they earn, as competition also includes Google and startups in the United States and China.

Founded in 2021 by former OpenAI leaders, Anthropic makes the Claude chatbot. CEO Dario Amodei has urged the AI industry to slow development so safety measures can keep pace. He has also called for greater oversight, saying some measures would require cooperation among companies and governments.