Anthropic reportedly advances IPO plans despite market turbulence

Investors are expected to use Anthropic’s valuation as a gauge of the artificial-intelligence boom’s strength. Some institutional investors are now pushing for a figure below the $1.5 trillion target discussed as recently as last week, according to the Journal. That target was already down from the $2 trillion valuation floated a few months ago.

The timing comes as Anthropic’s main rival, OpenAI, was reportedly valued at $1.25 trillion last week after raising $11 billion in fresh capital. The ChatGPT maker had initially sought $20 billion, the report said.