Artificial intelligence firm Anthropic is preparing for a landmark stock market debut on New York's Nasdaq exchange, where it aims to be valued at around $1.3 trillion (£1 trillion). The creator of the Claude chatbot plans to offer shares priced between $70 and $78 each when it floats this month.
The company expects to raise up to $64bn. Although the projected valuation reaches into the trillions, it trails the $2tn estimates previously anticipated by some backers during the summer, according to the Financial Times. The loss-making company's float comes as some investors have started to question the durability of the AI boom.
The upcoming flotation arrives amid a turbulent market climate for major technology stocks. Following US midterm elections, the Nasdaq fell sharply on concerns a Democrat-led Congress could slow developments.
Adding to the complex backdrop, Anthropic cautioned investors last month that advanced artificial intelligence systems could, if not developed, deployed, and operated with appropriate safeguards, oversight, and security measures, pose catastrophic or existential risks to humanity. The firm has noted these risks are particularly high if such systems are misused, replicated, weaponised, or allowed to operate with a high degree of autonomy, while reiterating promises to develop AI to be beneficial to people. The company has also warned investors that its future success depends largely on its ability to develop the most advanced AI models, and that any failure to do so could adversely affect its business.
