Anthropic targets US$1 trillion IPO valuation in test of Wall Street’s AI fervor

Résumé détaillé

Anthropic targets US$1 trillion IPO valuation in landmark Nasdaq listing amid AI boom concerns. Read more at straitstimes.com.

Fears of more AI scrutiny rose, particularly on data centre construction, after the Democrats’ massive gains in the US midterm elections.

SAN FRANCISCO, California – Anthropic’s IPO is set to raise as much as US$64.4 billion (S$82 billion), a regulatory filing showed on Nov 10, in a landmark test of whether Wall Street’s faith in the AI boom outweighs concerns over its risks.

The company is targeting a valuation of up to US$1.02 trillion, according to Reuters calculations based on the outstanding shares listed in the filing.

Reuters exclusively reported on Nov 10 that Anthropic and some of its investors plan to sell shares in an indicative price band of between US$70 and US$78 per share.

The company is launching the roadshow for a historic share sale that is expected to set a benchmark for the sector, following years of hype that fuelled a massive influx of capital into AI companies.

Anthropic will also raise US$26 billion via a separate private placement deal with cornerstone investors including Alphabet’s Google, Nvidia, Advanced Micro Devices, Reuters reported.

Together with investments from cornerstones, which include Broadcom, Micron Technology, Microsoft and TSMC, the Anthropic share offering will raise a total of up to US$90.4 billion.

Details of the blockbuster deal were briefly circulated to investment banks before being retracted late on Nov 9, according to e-mails seen by Reuters.

The second half of the year has brought a reckoning for the AI boom, as investors question whether returns will justify the massive spending and mounting debt costs in an elevated interest-rate environment.

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