Anthropic to raise $64bn in major stock market listing

Anthropic, the company behind the Claude chatbot, plans to raise up to $64bn (£48bn) through a share listing on New York’s Nasdaq, expected this month. The proposed offering comes amid uncertainty about the AI sector, with investors questioning whether heavy spending on AI and data centres will produce sufficient returns.

The company has set a price range of $70 to $78 per share, implying a valuation of $1.1tn to $1.3tn, below the $2tn some analysts had recently forecast. In the six months to the end of June, revenue rose to $16.2bn from $1.1bn a year earlier, while its pre-tax loss widened to $80.7bn from $12.9bn. A sharp Nasdaq fall after US midterm elections added to market volatility and concerns that a Democrat-led Congress could slow AI development and data centre construction.