Anthropic points to AI dangers, soaring sales in $100b IPO filing

Artificial intelligence company Anthropic is set to make its initial public offering (IPO), with the potential to raise up to US$100 billion and value the company between $1.5 trillion and $2 trillion. The prospectus, spanning over 90 pages, highlights the significant risks associated with the rapidly growing AI sector, including potential catastrophic or existential risks to society, policy scrutiny, and political backlash.

Despite these concerns, Anthropic's sales have soared to $11.6 billion in the April-June quarter, up from $787 million a year earlier, marking its first operating profit of nearly $1 billion. The company has committed substantial funding to AI infrastructure, including up to $120.5 billion with SpaceX, $110 billion with Amazon, and estimated $125 billion to $150 billion with Google.

However, the company's growth is expected to slow, especially after the IPO, as investors closely monitor third-quarter figures. Anthropic's governance structure remains in the hands of its seven co-founders, ensuring control is not solely in the hands of investors.