Anthropic filed for a US stock market listing that values the AI company above SpaceX's $1.8 trillion debut valuation, making it the first fully AI-focused company to go public. The Claude chatbot developer did not disclose share numbers, pricing, or a listing date, but said it will trade on Nasdaq under the symbol ANT.
The company reported $16.3 billion in revenue for the first half of 2024 but posted losses exceeding $80.7 billion in the same period. Anthropic said it would make "forward investments that may seem irresponsibly large at first glance" as it races to develop the most advanced AI models.
In regulatory filings, Anthropic warned that advanced AI systems could pose "catastrophic or existential risks to humanity" if not developed with proper safeguards, oversight and security measures. The company cited concerns from policymakers, regulators, researchers and its own staff that AI systems could cause harm if misused, weaponised or allowed to operate with high autonomy. Anthropic also flagged regulatory risks tied to AI use by children or people at risk of suicide, and said it faced uncertainty about liability for actions taken by its systems.
The filing detailed supply chain vulnerabilities. Anthropic relies on a small number of cloud computing providers and Taiwanese chipmakers already facing massive demand, creating bottlenecks. Data centres concentrate in the US, adding geographic risk.
Anthropic balanced risk disclosures with growth potential. The company said AI could accelerate progress in biology and medicine, potentially finding cures for cancer and Alzheimer's. It projected AI would create "millions of virtual agents" and unlock "sustained acceleration in economic growth" through productivity gains.
The listing announcement follows OpenAI's June disclosure of similar IPO plans. OpenAI is expected to list in early 2025. Both companies faced criticism after cyber attacks involving their AI agents, and current and former staff warned development was proceeding without adequate safeguards.
Separately, the owners of Elvis Presley's music sued Anthropic on Monday, accusing the firm of using hundreds of his songs to train Claude without permission.
Matt Orton, chief market strategist at Raymond James Investment, told the BBC that investors expected rapid revenue growth alongside substantial losses. Peter Andersen, founder of Andersen Capital Management, called Anthropic's listing "a significant milestone" and said its stock debut would signal investor sentiment about continued AI funding.