Anthropic aims for $1.3 trillion valuation when it becomes a public company

Artificial intelligence giant Anthropic is looking for an approximately US$1.3 trillion valuation in an initial public offering despite new questions about the massive amounts of money flowing into the sector. The company behind the Claude chatbot said in a regulatory filing on Tuesday that it will sell 825 million shares priced between $70 and $78 a share. That would give Anthropic the ability to raise more than $61 billion, if the IPO is priced at the midpoint.The initial pricing of a company’s shares is a complex process. If they are priced too high, it can send shares skidding on the first day. If shares are seen as cheap, the company and the banks running the IPO can leave money on the table.The San Francisco company is anticipated to make its Wall Street debut this month.Anthropic could be among the biggest initial public offerings of stock ever, but now seems like it will fall short of eclipsing the record $86 billion raised by SpaceX in its IPO in June. An Anthropic IPO would also put the company ahead of OpenAI in going public, setting the stage for a pair of blockbuster stock debuts by rival AI developers. Story continues below advertisement “For tech and AI, this is the ...