Anthropic's valuation has halved in a month, but the company is confirming an IPO on November 18.
The issuer aims to raise up to $64.4 billion, which will be an important test of whether Wall Street's faith in the AI boom outweighs concerns about its risks. They plan to sell shares in an estimated price range of $70 to $78 per share.
Anthropic will also raise $26 billion through a separate private placement among key investors, including Alphabet, Nvidia and Advanced Micro Devices, Reuters writes.
Potential investors in Anthropic's expected IPO have pushed for a more attractive valuation to decide whether to float, with some seeing the recently raised $1.5 trillion valuation as the upper limit of expectations.