Anthropic targets $1.4 trillion IPO

Anthropic confirmed on Tuesday that its IPO could be one of the biggest ever, even while falling short of previous expectations. Its IPO price is expected to be between $70.00 and $78.00 per share, which would put its valuation as high as $1.4 trillion, according to the New York Times. The Wall Street Journal reports that according to its sources, Anthropic is “aiming for its shares to start trading Thursday or Friday next week.”

As Reuters notes, the Anthropic IPO was previously expected to be valued at as much as $2 trillion. As of last week, Anthropic’s rival OpenAI was valued at $1.25 trillion.

Those lower expectations follow months of debate around AI safety, and what that means, while midterm election results showed souring public opinion toward AI companies and data center projects they’re heavily investing in. And that doesn’t even include this weekend’s revelations about an alleged Chinese spy’s involvement with Nvidia CEO Jensen Huang.

The initial public offering price is expected to be between $70.00 and $78.00 per share. Anthropic has applied to list its Class A common stock on the Nasdaq Global Select Market under the symbol “ANT.”