Anthropic, the company behind the Claude chatbot, plans to list on the Nasdaq on Nov. 19 under the symbol ANT. It will sell shares at $70 to $78 each and raise up to $64 billion, which would value the company at $1.1 trillion to $1.3 trillion. That is lower than the $2 trillion some backers expected in the summer, according to the Financial Times. It would also be the first fully AI-focused company to go public.
The company is growing fast but losing a lot of money. Its revenue for the six months to June rose to $16.2 billion from $1.1 billion a year earlier. Its pre-tax loss grew to $80.7 billion from $12.9 billion. Anthropic also warned last month that advanced AI could pose “catastrophic or existential risks to humanity” if it is not developed with proper safeguards.
The timing is not easy. The Nasdaq fell sharply after the midterms because of worries that a Democratic Congress could slow the AI buildout. Still, City Index analyst Fiona Cincotta said the $64 billion target is “fairly bullish” and shows the company expects demand to continue. OpenAI is also expected to list early next year.
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