Anthropic targets 1.4 trillion valuation in massive stock market debut

Anthropic is seeking a valuation of $1.4 trillion for its upcoming IPO, with the company looking to raise as much as $64.4bn in what would be one of the largest stock market debuts in history. The company, which makes the Claude AI chatbot, launched its investor roadshow on Tuesday, with reported plans to go public next week. It has also secured $26bn in a separate private placement backed by some of the world's largest tech companies, including Google, Nvidia, Microsoft and AMD. The listing is being closely watched as a major test for how much investors are still willing to bet on AI companies, which have driven huge gains in tech stocks and the broader US market. The $1.4 trillion valuation is lower than earlier estimates, which had suggested Anthropic could be valued between $1.5 trillion and $2 trillion, as concerns grow about the company's enormous infrastructure spending and recent swings in AI stock prices.