Anthropic to complete IPO by Nov. 26 despite lower valuation amid tech sell-off
By Google News AI ·
The Financial Times (FT) reported on the 7th, citing multiple sources, that artificial intelligence (AI) company Anthropic plans to complete its initial public offering (IPO) before Thanksgiving in the United States on the 26th, despite the recent sell-off in tech stocks.
According to the FT, Anthropic is expected to raise $80 billion to $100 billion based on a valuation of $1.25 trillion to $1.75 trillion (about 1,700 trillion to 2,380 trillion won). That is far below the previously floated $2 trillion valuation.
A major investor in Anthropic said, "We think the company will take a very conservative approach and start around a $1.5 trillion valuation, then gradually lift it." Another institutional investor projected a valuation of about $1.3 trillion.
With the recent sell-off in AI-related tech stocks continuing, concerns are growing about the IPO's prospects. Market research firm Vital Knowledge said, "The sell-off in AI stocks is making Anthropic's IPO even harder," adding, "As it becomes more difficult to finance capital expenditures, that could create a vicious cycle that triggers further selling."
However, Anthropic CEO Dario Amodei is said to be intent on moving forward with the IPO even if the valuation comes down. An early investor said, "An IPO is just one milestone in the overall process," adding, "It should be seen as one option, just like other forms of fundraising."
Originally published by Google News AI
