Anthropic, a major name in AI, is about to go public on the Nasdaq on November 19. It could yield over $90 billion in proceeds, with big backing from Google and Amazon.
Shares will be priced between $70 and $78, making this one of the year's biggest tech debuts.
Anthropic IPO backing $110B Amazon obligation
This IPO lands just as the AI industry is struggling with high costs and rising interest rates.
Anthropic hopes the new funds will boost its cash reserves and help lock in huge deals, like its obligation to spend at least $110 billion with Amazon over the course of a decade and more support from Google.
The move could give the whole AI sector a much-needed shot of energy at a tough time.