Anthropic sets modest $1 trillion IPO valuation target in test of Wall Street’s AI fervor

Anthropic is targeting a valuation of up to $1.02 trillion in its landmark U.S. IPO, its filing showed on Tuesday, well short of the ​previously discussed amount in the latest sign of cooling investor appetite for AI.

The AI lab and some of its investors are aiming to raise up to $64.4 billion by ‌selling 825 million shares in the IPO in an indicative price band of between $70 and $78 per share.

Some prospective investors have questioned whether Anthropic’s previously discussed $1.5 trillion valuation was too high, particularly given the company’s substantial infrastructure commitments and the recent volatility in AI-related stocks.

At one point this year, investors expected the IPO to take place in October and to seek a valuation as high as $2 trillion.

The company is launching the ​roadshow for a historic share sale that is expected to set a benchmark for the sector, following years of hype that fueled a massive influx of capital into AI companies.

Details ​of the blockbuster deal were briefly circulated to investment banks before being retracted late on Monday, according to emails seen by Reuters.

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Original source: https://www.nbcnews.com/business