Anthropic sets IPO range valuing it at up to $1.4 trillion amid AI stock sell-off
Anthropic has launched the roadshow for its long-awaited initial public offering—setting a price range of $70 to $78 per share. Even at the top end of the range, it's well short of the $2 trillion some had floated weeks ago.
Anthropic, an AI lab, has begun its IPO roadshow, announcing a price range of $70 to $78 per share that would value the company at up to $1.4 trillion. This is lower than previous reports of a $2 trillion valuation. Trading in Anthropic shares is set to begin on the Nasdaq as early as next week, with 825 million shares to be sold.
Seven strategic partners, including Google and Nvidia, have committed to buying $26 billion in non-voting stock. Despite the IPO occurring during a challenging period for the AI industry due to regulatory concerns and Nvidia's recent board investigation, Anthropic has reported a significant revenue increase to approximately $81 billion as of October.
The company also faces concerns about the safety and potential risks of their AI systems, including the threat of recursive self-improvement, which could lead to rapid advancements and uncontrolled development.
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