Anthropic, maker of Claude chatbot, set for US$1.3 trillion market debut

Anthropic, the creator of the Claude chatbot, is preparing to debut on the US stock market with an IPO priced at $1.3 trillion. In a filing with the US Securities and Exchange Commission on November 10, the company announced it would sell 825 million Class A shares priced between $70 and $78 each, potentially raising up to $64.35 billion.

The initial filing was made on October 26, with the IPO expected to value Anthropic at up to $1.4 trillion, according to CNBC. The company is set to list on the Nasdaq under the symbol ANT, with trading beginning on November 19. Up to 20% of shares will be allocated to small investors, a substantial amount compared to typical offerings.

A separate private placement of $26 billion in non-voting stock has been agreed upon by tech giants such as AMD, Broadcom, Google, Microsoft, and Nvidia, with $10 billion each from Google and Nvidia. Despite AI's potential for catastrophic or existential risks, Anthropic has committed to developing AI technology that benefits people.

However, the company has cautioned investors that failure to do so could negatively impact its business. The debut comes amid a volatile period for big tech, with the Nasdaq dropping following the US midterm elections due to concerns over potential Democratic control and AI regulation. Analysts view the $1.3 trillion valuation as optimistic, indicating continued confidence in AI's potential.

Anthropic, founded in 2021 by siblings Dario and Daniela Amodei and five former OpenAI colleagues, will be the first AI-focused company to go public, serving as a benchmark for AI's market value.