Source The New York Times · Published · Open the original ↗
Markets
Anthropic Targets Valuation of Up to $1.4 Trillion for Blockbuster I.P.O.
The A.I. company’s pricing would make it one of the biggest ever public listings. It comes at a volatile moment in markets, with investors questioning the sustainability of the A.I. boom.
Anthropic on Tuesday set a price range for its initial public offering, valuing the company at more than $1 trillion, in a sign that investor demand for the fast-growing but money-losing darlings of the artificial intelligence boom remains robust.
The range, of $70 to $78 per share, would make Anthropic worth $1.26 trillion to $1.41 trillion, when all shares are counted, a staggering sum for a five-year-old company. That was lower than a $2 trillion valuation that bankers had floated this summer, but still higher than the company’s private valuation of $900 billion.
Seven of the tech industry’s biggest players, including Google, Nvidia and Microsoft, have signed up to invest a total of $26 billion in the offering. Along with the other shares Anthropic plans to sell, the company could raise up to $100 billion at the highest end of its ambitions.
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