Artificial intelligence (AI) company Anthropic has set a price range of $70 to $78 per share for its proposed initial public offering (IPO), potentially valuing the five-year-old company at up to $1.405 trillion and positioning it for one of the largest stock market debuts.
According to an updated filing with the US Securities and Exchange Commission (SEC) on Tuesday, Anthropic plans to offer 825 million shares in the IPO. At the upper end of the price band, the company could raise approximately $64.35 billion.
The proposed valuation represents a significant increase from the $965 billion valuation announced by Anthropic during its May funding round. The company is expected to list on the Nasdaq under the ticker symbol 'ANT' later this month.
Despite the scale of the proposed offering, Anthropic faces an uncertain investment environment as it prepares to market its shares to institutional and retail investors.
The latest US midterm election results, which gave Democrats control of Congress, along with the passage of several state-level ballot measures, have raised questions about the future pace of AI infrastructure development.