Anthropic sets IPO price range of $70 to $78 per share to reach an implied valuation of $1.404 trillion

Anthropic set an IPO price range of $70 to $78 per share, implying a fully diluted valuation of up to $1.404 trillion at the top end. The AI developer is moving ahead with one of the largest listings on record, testing public-market appetite for a company whose scale now rivals the biggest technology incumbents. The wide range leaves room for significant price discovery, and the final valuation will hinge on demand during bookbuilding. Investors will watch the deal's pricing and first-day trading for signals on how public markets value frontier AI labs.