Anthropic to pursue U.S. IPO as valuation nears $1 trillion

Anthropic filed to go public in the U.S., positioning the five-year-old AI developer behind the Claude chatbot to test investor appetite for sky-high valuations in the sector. The company said the size and pricing of the offering haven’t been set. Recent private funding valued Anthropic at about $965 billion, surpassing OpenAI’s last reported valuation, as the rivals race for enterprise customers and developer mindshare. The listing is expected to arrive alongside SpaceX’s long-anticipated debut and amid Alphabet’s plan to deploy $80 billion on AI, setting up a high-stakes yardstick for how public markets price generative-AI businesses. Analysts expect Anthropic’s prospectus to face intense scrutiny around margins, sales growth and the cost of operating frontier models. The company has also been entangled in a legal dispute with the Pentagon over contract terms that it warned could enable problematic government uses of AI; tensions with the administration have recently eased, but litigation continues. Anthropic has told investors it expects to turn a profit in the first half of the year, even as prominent peers remain unprofitable.

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