Anthropic pushes ahead with pre-Thanksgiving IPO despite tech selloff, accepts lower valuation
Despite the tech selloff, Anthropic is pressing ahead with its IPO at a valuation of $1.25 to $1.75 trillion, well below the hoped-for $2 trillion. The Claude developer aims to raise $80 to $100 billion before Thanksgiving. Rival OpenAI has also recently had to cut its valuation. The article Anthropic pushes ahead with pre-Thanksgiving IPO despite tech selloff, accepts lower valuation appeared first on The Decoder.
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Anthropic, a developer of an AI assistant, is moving forward with plans to go public before Thanksgiving despite recent market volatility in the technology sector. The company is seeking to raise 80 to 100 billion dollars at a valuation between 1.25 and 1.75 trillion dollars, which represents a reduction from the 2 trillion dollars some investors had previously hoped for, though it exceeds the company's current 965 billion dollar valuation. The tech selloff was triggered by rising borrowing costs, heavy AI spending plans, and a political development where Democrats winning the midterms accelerated concerns because they had promised to slow data center construction. Anthropic's annualized revenue has grown to approximately 81 billion dollars from roughly 65 billion dollars at the end of July.
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