Abstract:
According to the Financial Times, despite the recent sharp sell-off in technology stocks, artificial intelligence company Anthropic is still advancing its initial public offering (IPO), planning to go public before Thanksgiving in the United States, seeking to raise US$80 billion to US$100 billion, with a target valuation of US$1.25 trillion to US$1.75 trillion.
The Financial Times quoted multiple Anthropic investors as saying that the above-mentioned valuation range is lower than the US$2 trillion that some of the most optimistic investors had previously expected, but higher than the US$965 billion valuation of the company's most recent round of financing. Thanksgiving in the United States is November 26 this year.
Anthropic is the developer of AI assistant Claude. The report pointed out that JPMorgan Chase plans to hold an information session for potential investors on November 13. The IPO's final valuation, fundraising size and time to market are still to be determined.
Anthropic's move to go public comes as investors are reassessing technology companies' huge AI spending and their returns. The Nasdaq 100 index fell more than 6% on Thursday. Although it rebounded on Friday, it was still down 4.9% for the week.
Financial data shows that Anthropic’s third-quarter revenue was approximately US$17 billion, an increase of nearly 50% from the previous quarter, but the growth rate has slowed down. The company previously reported annualized revenue of approximately $81 billion. Annualized revenue is the full-year level calculated based on recent revenue and is not equivalent to the full-year revenue that has been achieved.
OpenAI, which competes with Anthropic in the AI market, is also facing adjustments to its financing valuation. OpenAI's latest financing reportedly values it at $1.25 trillion, down from the $1.4 trillion it previously sought.
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