Anthropic targets $1.4 trillion IPO valuation as AI enthusiasm cools

Anthropic is targeting a $1.4 trillion valuation in its initial public offering, a landmark test of public-market appetite for AI companies as enthusiasm around the sector cools. The filing marks one of the largest IPO ambitions on record and would set a benchmark valuation for AI developers at a time when investors are reassessing growth expectations. The outcome matters because a strong debut could reopen the IPO window for other AI firms, while a weak reception would signal tighter scrutiny of lofty private-market valuations. What to watch next is how the offering prices relative to Anthropic's last private round and whether demand holds through the first weeks of trading.