Anthropic's $64B IPO tests AI boom as company reveals growth plans

Anthropic plans to raise up to $64 billion in its upcoming initial public offering, potentially valuing the company at $1.4 trillion, according to a document filed Tuesday. The IPO is the first by a major AI model developer and is seen as a test of the AI spending boom. The Claude AI maker will sell 825 million shares priced between $70 and $78 each, trading under the symbol "ANT." Seven tech firms, including Google, Nvidia, AMD, and Microsoft, agreed to buy $26 billion in non-voting shares at the IPO price. The offering falls short of the record $86 billion raised by SpaceX in June. Anthropic's revenue hit $17 billion in the third quarter, up from $1.4 billion a year earlier. The company warns that advanced AI systems "may pose catastrophic or existential risks to society." The Pentagon classified Anthropic as a national security risk after it refused to lift restrictions on military use of its technology.