Anthropic's $1.4 trillion IPO tests Wall Street's appetite for AI stocks

Anthropic is preparing an IPO that could value the AI company at up to $1.4 trillion, with a proposed $64.4 billion share sale that may rank among the largest market debuts in history. The offering tests investor appetite for AI stocks amid sector cost concerns. The Claude chatbot maker and existing investors seek to sell 825 million shares at up to $78 apiece. A separate $26 billion private placement involves cornerstone investors including Google, Nvidia, and AMD. The debut would trail SpaceX's record $75 billion US listing in June. The IPO comes amid a tech stock selloff driven by worries over AI's capital requirements and uncertain returns. Rising borrowing costs, political uncertainty, and regulatory questions are prompting investors to reassess the sustainability of massive AI infrastructure spending.