Anthropic presses ahead with stock market listing despite shaky market
Artificial intelligence company Anthropic reportedly plans to set a share valuation range this week and begin trading next week, according to The Wall Street Journal. Some investors are pushing for a valuation below the $1.5 trillion discussed last week.
Artificial intelligence company Anthropic, the developer of the Claude chatbot and the main rival of OpenAI, is continuing preparations for its initial public offering (IPO), in which a company's shares are offered on a stock exchange for the first time. The U.S. newspaper The Wall Street Journal reported the news. The company is pressing ahead after one of the largest sell-offs on the Nasdaq exchange.
According to the newspaper, Anthropic intends to set a valuation range this week and start trading on the Thursday or Friday of next week. Investors will treat Anthropic's valuation as a gauge of how strong the AI boom is.
Investors want a lower valuation
The source says some institutional investors are now pushing for a valuation below $1.5 trillion, the figure discussed as recently as last week. That figure was itself considerably lower than the $2 trillion that was floated a few months ago.
Rival's valuation
OpenAI, the maker of ChatGPT, was reportedly valued at $1.25 trillion last week. It raised $11 billion in new capital, short of the $20 billion it had initially sought.
The timing of tech listings is also complicated by reports that a chief executive closely tied to the AI boom had an affair with a person suspected of being a Chinese spy.
