Anthropic to raise $64bn in major stock market listing

The AI company behind the Claude chatbot, Anthropic, is planning to raise up to $64bn (£48bn) when it lists its shares for sale on New York's Nasdaq stock exchange.

This would value Anthropic at between $1. 1 trillion and $1. 3 trillion, although some analysts had predicted weeks ago that the company could reach a valuation of over $2 trillion.

Anthropic's loss-making status is not a concern in this case, as it will offer its shares for between $70 and $78 each in its initial public offering (IPO), which is expected to go ahead this month.

This move comes at a volatile time for AI firms, following last week's US midterm elections and concerns over the development of AI and data centre buildouts.

Global stocks have plunged as fears over US AI slowdown spread to Asia and Europe, but Fiona Cincotta, a senior market analyst at City Index, believes Anthropic's IPO is 'fairly bullish' within 'the volatility [and] concerns towards AI that we've seen in sort of particularly last week'. Anthropic will use the funds raised to further develop its AI technology and expand its presence in emerging markets.

The company has not disclosed any plans for a secondary listing on other exchanges, but analysts expect it to be listed on multiple exchanges in the coming months.

As a result, Anthropic's shares are expected to rise significantly in the short term, with some analysts predicting a 20-30% increase over the next few weeks.

However, the company has warned that its financial performance may be affected by the ongoing US-China trade tensions and other global economic factors.

Despite these challenges, Anthropic's IPO is seen as a positive development for the AI industry, which is expected to continue growing in the coming years.