Claude-owner Anthropic files for blockbuster IPO

(Sharecast News) - Anthropic has confirmed plans to debut on the New York Stock Exchange, in what is expected to be one of the biggest-ever initial public offerings.

In a brief update posted late on Monday, the American artificial intelligence specialist - known for its Claude chatbot - said it had confidentially submitted draft paperwork to the US Securities and Exchange Commission.

"This gives us the option to go public after the SEC completes its review," it said. "The proposed initial public offering will depend on market conditions and other factors.

"The number of shares to be offered and the price have not yet been set."

No further details were released. However, while Anthropic has yet to set a price target, it has been widely speculated that the IPO will be valued at more than $1trn. The company was most recently valued at around $900bn ahead of its last funding round, which closed at the end of May.

The explosion in AI has seen valuations rocket across the sector. OpenAI, which is also expected to file for an IPO in the coming days, was recently valued at $852bn, while SpaceX's prospectus, published last May, is targeting a $1.75trn market debut later this month. Much of SpaceX's hugely-ambitious business plan depends on significant advances in AI.

Google-owner Alphabet also confirmed this week that it plans to raise up to $80bn in a record stock deal, in large part to fund its AI ambitions. Shares worth around $10bn are being sold to Berkshire Hathaway as part of the raise.

Ipek Ozkardeskaya, senior analyst at Swissquote, said: "The valuations are huge for these ultra-promising but cash-burning companies.

"What's perhaps more interesting is that the AI race is no longer being funded solely by venture capitalists willing to lose money for a decade in exchange for a shot at changing the world. The financing is becoming increasingly institutionalised."

Nicholas Hyett, lead alternatives analyst at Hargreaves Lansdown, said: "These are some of the biggest ever equity raises and represent a major volte-face for the giants of US tech, which used to pride themselves on capital light models that spat out cash rather than gobbling it up."