Anthropic says it could be worth as much as $1.4T, according to new IPO filing
Anthropic said it will sell shares at a range of $70 to $78 in its upcoming IPO, according to a new Securities and Exchange Commission (SEC) filing.
The AI company is pushing ahead with an IPO and valuing itself at up to $1.4 trillion, lower than some previous estimates of $2 trillion. Anthropic will trade under the ticker symbol "ANT."
Anthropic could go public as early as next week, according to some reports. The company will offer 825 million shares.
The company behind the AI chatbot Claude earned $16.3 billion in revenue over the first six months of this year, growing nearly 14-fold from the same period a year earlier, according to a government filing late last month.
Still, the company reported a net loss of $80.7 billion over the first six months of this year, indicating the scale of its spending over that period.
Public concern over the possible risks posed by AI has grown in recent months, resulting in part from AI-related security incidents disclosed by Anthropic as well as the high-profile resignation of a researcher at the company.
In July, Anthropic said a review of more than 140,000 testing runs of its AI models had unearthed three separate self-directed cyberattacks against other organizations.
Rival companies, including OpenAI, have also revealed AI-related security incidents in recent months.
Anthropic CEO Dario Amodei announced a precautionary slowdown of AI development in September, voicing a commitment to ensure sufficient risk prevention. OpenAI CEO Sam Altman also said that month he would dial back the pace of his company's AI development.
In a preliminary SEC filing last month, Anthropic touted AI as "one of the most consequential technologies in human history. If managed well, it could rapidly accelerate scientific innovation, greatly increase economic growth rates, bring cures for major diseases within reach, and solve problems that have resisted generations of human effort."
The company also outlined the risks to would-be investors, including the possibility that its artificial intelligence models could pose a "catastrophic or existential risk to humanity."
Typically, companies making public stock offerings file a report with the SEC warning of the potential downsides of investing, such as competition from rivals, market demands and talent development. Anthropic, however, devoted an unusual amount of attention to potential risks in its preliminary prospectus, or S-1 filing.
Of the roughly 300-page report, about 90 pages are devoted to possible scenarios that "could adversely affect our reputation and brand, business, financial condition, and results of operations."
"There is a risk that such systems could, whether due to misalignment with human intentions, errors in objective specification, or self-preserving behaviors, take harmful actions independently and at scale without human intervention," the company wrote in the filing.
Anthropic said in its preliminary prospectus that it has deployed safeguards intended to detect and block the misuse and misbehavior of its AI models.
Yet, the company conceded that "such safeguards are incomplete, may be outdated in light of evolving threat models, have been and may in the future again be circumvented, or may fail to operate as intended."
ABC. News' Bill Hutchinson contributed to this report.
