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The AI race is heating up.
Anthropic, the $965 billion-valuation artificial intelligence lab, has filed confidentially for an initial public offering, the company said Monday, Kate Clark and Corrie Driebusch report. The filing could put the company behind the Claude AI model on a path to go public this fall.
This year in IPOs: It is set to be a blockbuster year for new listings, with Elon Musk’s SpaceX preparing to stage what is likely to be the largest IPO ever next week. The Wall Street Journal reported last month that Anthropic’s chief rival, OpenAI, was preparing to submit its own IPO filing imminently.
The year could end up the biggest ever for money raised through IPOs if Anthropic, OpenAI and SpaceX all make their debuts. SpaceX is aiming to raise as much as $80 billion or more in an offering next week. It had a valuation of $1.25 trillion after its combination with Musk’s AI-company xAI, and could see its valuation rise further.
The race: Banks have told both Anthropic and OpenAI that whoever makes it to market first will get to define the new industry and have first dibs on the large pools of cash eager to back new AI companies. If both file initial paperwork with regulators around the same time, either would still have a chance at staging an offering before the other.
Anthropic said in a blog post Monday that its plans will depend on market conditions and other factors. Anthropic has recently emerged as a front-runner in the AI wars after a period of staggering growth.
Because Anthropic filed confidentially, as is customary these days, most investors will have to wait until closer to the IPO to see details of the company’s business, including its finances. The confidential process allows regulators and companies to engage in a back-and-forth dialogue about disclosures as they finalize the so-called prospectus for the stock offering.
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