Inside Anthropic’s blockbuster IPO: What we know about the AI giant’s plans

Anthropic, a leading AI model developer, is set to make its stock market debut in a blockbuster IPO. The company aims to sell 825 million shares between $70 and $78 each, trading under the ticker ANT. Seven tech giants, including Google, Nvidia, AMD and Microsoft, have pledged $26 billion in non-voting shares at the IPO price in a separate private placement.

Anthropic had been expected to raise up to $100 billion, but even at the top of its price range, the offering would fall short of SpaceX's record $86 billion IPO. Despite the company's ambitious goals, the AI spending boom's longevity remains uncertain, as highlighted by Art Hogan, chief market strategist at B. Riley Wealth Management.

The IPO occurs amidst Wall Street's focus on the aftermath of the US midterm elections, during which Democrats gained control of both chambers of Congress and vowed to limit President Trump's agenda. At the heart of Anthropic's IPO is its mission to develop advanced AI technology responsibly, with the company addressing potential risks such as catastrophic or existential threats, as well as the political backlash it may face for its public stances on AI regulation and safety.