Anthropic plans to set a valuation range this week and begin trading on Thursday or Friday of next week, according to The Wall Street Journal. The AI safety company is moving ahead with its IPO despite recent market volatility and headwinds in the tech sector.
Institutional investors are pushing for a valuation below the $1.5 trillion target discussed last week. That figure itself represented a considerable decline from the $2 trillion valuation floated a few months ago.
Anthropic's valuation will signal the health of the AI boom to investors. The company's main rival, OpenAI, was valued at $1.25 trillion after raising $11 billion in fresh capital last week, falling short of its initial $20 billion fundraising target.