Anthropic to raise $64bn in major stock market listing

Image source, Getty ImagesByDearbail JordanBusiness reporterPublished12 minutes agoAnthropic, the AI company behind the Claude chatbot, is planning to raise up to $64bn (£48bn) when it lists its shares for sale on New York's Nasdaq stock exchange.The loss-making company said it will offer its shares for between $70 and $78 each in its initial public offering (IPO), which is expected to go ahead this month.Anthropic is floating at a volatile time for AI businesses - following last week's US midterm elections, the Nasdaq fell sharply on concerns a Democrat-led Congress could slow development of the technology and the buildout of infrastructure such as data centres.There are also wider fears over the billions of dollars being spent on AI and whether it will pay off.Fiona Cincotta, a senior market analyst at City Index, said the amount Anthropic wants to raise is "fairly bullish" within "the volatility [and] concerns towards AI that we've seen in sort of particularly last week".She told Reuters: "It's showing that they are still sort of upbeat about the outlook as far as AI is concerned and that obviously that they think that the demand is going to be there."Related topicsArtificial intelligenceCompaniesMore on this storyGlobal stocks plunge as fears over US AI slowdown spread to Asia and EuropePublished3 days ago