AI startup Anthropic has set a price range of $70 to $78 per share for its upcoming initial public offering, a move that could value the company at up to $1.4 trillion. If priced at the midpoint, the firm expects to raise $61 billion, potentially marking the largest IPO in history. Trading is expected to begin as early as next week, though the company faces scrutiny over its unconventional structure and reliance on a small group of major customers.
Financial analysts have raised concerns regarding the company's sustainability, noting that while sales reached $33.2 billion in the first nine months of this year, the firm has recorded only one quarter of operating profit. Anthropic also faces significant capital commitments, with nearly $900 billion earmarked for data center infrastructure and computing power over the coming years. Furthermore, the company’s complex share lock-up schedule and concentrated voting power among its seven founders have drawn criticism from market observers.
Despite these challenges and recent volatility in AI-related stocks, Anthropic is reportedly proceeding with investor meetings this week. The company, which operates as a public benefit corporation, has acknowledged both the potential for a technological revolution and the risks its AI models may pose. Anthropic declined to comment on the IPO plans, which are expected to culminate in a market listing by the end of next week.
