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.
\n\nThe 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.
\n\nSome 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.
\n\nAt one point this year, investors expected the IPO to take place in October and to seek a valuation as high as $2 trillion.
\n\nThe 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.
\n\nDetails of the blockbuster deal were briefly circulated to investment banks before being retracted late on Monday, according to emails seen by Reuters.
\n\nThe second half of the year has brought a reckoning for the AI boom, as investors…
Original source: https://www.nbcnews.com/business