Anthropic targets valuation of up to US$1.4 trillion

Anthropic plans to raise up to US$64 billion in its upcoming initial public offering, the artificial intelligence giant said in a filing on Tuesday, putting the company's total valuation at up to $1.4 trillion. The maker of AI agent Claude said in a filing with the US Securities and Exchange Commission that it aims to sell 825 million shares of Class A common stock at a Wall Street debut price estimate of "between US$70.00 and US$78.00" per share, amounting to US$64.3 billion. Anthropic had been expected to raise up to US$100 billion in its IPO, which would have made it the largest IPO on record. The stock market debut is being seen as a gauge of how long the AI spending boom lifting the US economy can last. And it comes as Wall Street is busy digesting the impact of the US midterm elections, in which Democrats won majority control of both chambers of Congress and are vowing to put the brakes on US President Donald Trump's agenda. Anthropic has been aiming to hold its initial public offering the week of November 16. On Monday the company announced it would release updated versions of two of its most powerful AI models, Fable 5.2 and Mythos 5.2,...