Launching a major tech IPO seems risky right now, coming soon after one of Nasdaq’s biggest sell-offs and amid revelations that a CEO at the heart of the AI boom had an affair with an alleged Chinese spy. But this does not deter Anthropic, which is continuing its listing plans, according to the Wall Street Journal.
Anthropic plans to set a valuation range this week and begin trading on Thursday or Friday of next week, the Journal reported.
Investors will look to Anthropic’s valuation to gauge the strength of the AI boom. Some institutional investors are now pushing for a valuation lower than the $1.5 trillion target discussed last week, a figure that was itself considerably lower than the $2 trillion announced a few months ago, according to the report.
OpenAI, Anthropic’s main rival, was reportedly valued at $1.25 trillion last week after the ChatGPT maker raised $11 billion in new capital, short of the $20 billion it had initially sought.
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