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Bankers preparing Anthropic's initial public offering are working toward a valuation of $1.5 trillion or higher, according to the Financial Times. The figure would place the AI developer among the most valuable listed companies at the time of its debut. The valuation reflects continued investor appetite for leading artificial intelligence firms. What to watch next: the final price range and timing of the listing, and whether public-market demand supports the target valuation.

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Anthropic, FT, First Squawk