Anthropic seeks valuation of up to $1.4 trillion for IPO

Anthropic is seeking a valuation of up to $1.4 trillion for its blockbuster initial public offering (IPO) expected later this month.

In a new filing with the Securities and Exchange Commission (SEC), Anthropic said it is planning to sell 825 million shares between $70 and $78 a share. If the company lists shares at the top of the range, on a fully diluted basis, it would put the company’s total valuation at around $1.4 trillion, a jump from the $965 billion valuation the company hit last May.

Shares will be offered under the ticket “ANT.”

The Claude maker is expected to go public later this month, despite lingering questions around a volatile market in the wake of AI concerns.

Stocks initially soared one day after Democrats won elections to control the Senate and House.

This was followed by a drastic sell-off last Thursday. Incumbent lawmakers and candidates campaigned on reining in the AI industry, while voters rejected data centers on dozens of ballot measures across the country.

Anthropic publicly filed for its IPO late last month and is likely to become the first large frontier AI lab to go public.

Its S-1 filing last month showed Anthropic’s revenue has drastically jumped in the past year, yet the company reported a net loss of $80.7 billion in the first half of this year.

AI safety concerns have dominated headlines for months , following various security breaches and warnings from executives, including Anthropic CEO Dario Amodei, about the technology’s risks to society .

Anthropic highlighted various risks of the technology in last month’s S-1, including the potential for cyberattacks, design of biological weapons or mass surveillance by governments.

“We consider it our personal responsibility to help the world understand these risks, to prevent or mitigate them when they arise from our AI models, and to work with governments and the rest of the industry to address them at a societal level,” the company wrote.

Anthropic confidentially filed paperwork with the SEC in early June, though no other details were released at the time. A week later, rival AI company OpenAI also confidentially filed to go public , though it is not clear when the ChatGPT maker will take the next step.

There was speculation Anthropic could beat the IPO record recently set by Elon Musk’s SpaceX last June, in which shares opened at $150.