Anthropic heads for public listing amid tech stock volatility

Summarised from 3 outlets · Updated 14 Nov, 08:20 · Archive

Anthropic is preparing to go public as tech stocks experience sharp falls following the US midterm elections.

Anthropic, the artificial intelligence company behind Claude, is proceeding with its public listing next Thursday despite sharp recent falls in technology stocks. The company is being valued at approximately $1.5tn at the initial pricing range of $70 to $78 per share.

The flotation comes amid significant turbulence in tech markets. Last week, following the Democrats' success in the US midterm elections, the Magnificent Seven technology firms—including Meta, Apple, Amazon and Tesla—lost more than $1tn in value in a single trading day. Nvidia, the chipmaker central to AI development, has suffered additional losses this week, with shares falling nearly 10% over two days.

Nvidia's troubles stem from disclosure that chief executive Jensen Huang resigned this week following revelations about alleged affairs, including with a woman suspected by US intelligence of being a Chinese spy. The resignation has intensified focus on leadership and governance across the AI sector.

Despite the volatility, Anthropic's chief executive Dario Amodei has dismissed concerns about market turbulence. The company's share offering is reportedly oversubscribed six times. Analysts at Morningstar suggest a fair value of $94 per share, above the initial pricing range.

The offering carries significant risk for investors. Chelsea Financial Services warned that investors 'could lose everything', though noted that if the company's growth continues at current pace, returns could be 'many times your money'. UK investors can apply through multiple platforms including AJ Bell, eToro, Hargreaves Lansdown and Interactive Investor, with minimum investments ranging from £250 to £1,000.

How it is being reported

• How you can buy into Anthropic - and why it's not for the faintheartedAnthropic, the business behind the Claude artificial intelligence (AI) system, makes its blockbuster stock market debut next Thursday.This is Money · 14 Nov, 08:03
• Anthropic’s Dario Amodei ‘not super fussed’ about market turmoilAI lab’s chief executive brushes off tech stock turbulence less than a week before its planned $1.5tn IPOFinancial Times · 13 Nov, 19:41
• Is the AI bubble bursting just as Anthropic goes public?The sharp sell-off in tech stocks after the US midterms has cast doubt on Anthropic's looming IPO. Yet, with hundreds of billions still being invested, some think the AI party is still in full swing.DW News · 13 Nov, 12:27

In this story: Anthropic · Dario Amodei · Jensen Huang · Nvidia · Google Alphabet · Meta · Microsoft · United States

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log