Anthropic targets $1 trillion IPO valuation in test of Wall Street's AI fervor

Anthropic is seeking up to $64.4 billion through an initial public offering, with a target valuation of as much as $1.02 trillion, according to a regulatory filing cited by Business Recorder. Reuters calculations based on the filing put the proposed share price at $70 to $78, while a separate private placement is expected to bring in $26 billion from cornerstone investors.

Including those investors, the overall fundraising could reach $90.4 billion. The offering comes as investors debate whether AI companies can turn heavy spending into returns, even as Anthropic reports quarterly revenue of $16.96 billion, up 47% from the previous quarter, and narrower losses. The company also disclosed nearly $900 billion in computing commitments, underscoring the scale of infrastructure needed to support its expansion.