Anthropic, the company behind the Claude chatbot, is seeking a valuation of approximately US$1.3 trillion in an initial public offering that could raise more than US$61 billion at the midpoint of its proposed price range.

The San Francisco-based artificial intelligence developer said in a regulatory filing Tuesday that it plans to sell 825 million shares at US$70 to US$78 each, according to Associated Press reporting by Michelle Chapman published by Global News.

The company is expected to make its Wall Street debut this month, with shares listed on the Nasdaq Global Select Market under the ticker symbol ANT. The proposed pricing is not final.

The offering would give Anthropic substantial funding to expand as it competes with OpenAI, Google and other AI developers. It would also put Anthropic ahead of OpenAI in reaching the public markets.

A regulatory filing last month showed Anthropic generated more than US$16 billion in revenue in the first half of the year, 14 times the amount recorded in the same period a year earlier. The company has yet to turn a profit.

The planned debut comes amid investor concerns about the cost of building and operating AI infrastructure. AP reported that a sharp Wall Street sell-off late last week was led by stocks tied to the construction of AI data centres.

Anthropic was founded in 2021 by former OpenAI leaders. Its proposed offering would rank among the largest stock-market debuts, although it would fall short of the US$86 billion SpaceX raised in June, according to AP.

Sources