Claude chatbot maker set for $1.3tn stock market debut despite ‘catastrophic’ AI warning
Anthropic, the artificial intelligence (AI) company behind the Claude chatbot, could be valued at around $1.3 trillion (£1 trillion) when it lists its shares for sale on New York's Nasdaq stock exchange.
Anthropic, the AI company behind the Claude chatbot, is set to make its stock market debut with a potential valuation of $1.3 trillion when it lists on the Nasdaq stock exchange this month. The company, which is currently operating at a loss, plans to offer shares at $70 to $78 each, raising up to $64 billion. This valuation is below the $2 trillion some backers predicted earlier in the year, but is still considerably large.
Despite warning last month that AI could pose "catastrophic or existential risks to humanity", Anthropic remains bullish on the outlook for AI development. The company's latest results show revenues of $16.2 billion for the six months ending June, up from $1.1 billion in the same period last year, but pre-tax loss increased to $80.7 billion from $12.9 billion.
Fiona Cincotta, a senior market analyst at City Index, notes that the $64 billion the company wants to raise is optimistic given the current volatility and concerns surrounding AI. As the first fully AI-focused company to go public, Anthropic's listing serves as a test case for the future of the technology.
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