AI giant Anthropic plans to sell shares in US as valuation nears $1tn

Artificial intelligence (AI) firm Anthropic has revealed its plans to go public in the US, a move which would allow people to buy and sell its shares on the stock market.

The company behind chatbot Claude said on Monday it had filed paperwork with the US authorities in order to make an initial public offering (IPO) this year.

Anthropic said the price and number of shares to be offered "have not yet been set".

The firm's stock market plans, coming alongside those of Elon Musk's SpaceX, is set to show whether investor appetite matches the soaring valuations of AI companies.

Anthropic, founded just five years ago, recently raised money from private investors that valued the company at more than $965bn (£717bn), ahead of OpenAI's most recent valuation of $852bn.

Anthropic chief executive Dario Amodei created the firm after leaving OpenAI, where he had worked for several years, over disagreements with its chief executive Sam Altman.

The two firms have since become fierce rivals in the AI world, developing similar technology and fighting for the attention and spending of users and corporate customers.

OpenAI is also reportedly considering going public this year.

Altman told CNBC on Monday that, while his company did intend to go public, it was in no rush to do so.

Should OpenAI's listing happen, the US capital markets are poised to see an historic level of investment in just a handful of companies.

SpaceX alone is expected to break stock market records with its target valuation, but the potential value of Anthropic and OpenAI are not far behind.

Meanwhile, Google's owner Alphabet has revealed plans to raise $80bn to spend on AI.

Matt Britzman, senior equity analyst at Hargreaves Lansdown, said the announcement was "a clear sign that the AI arms race is moving into a more capital-hungry phase".

Before firms list, they have to publish an IPO prospectus, which details the company's finances, management and risks.

Tineke Frikkee, senior fund manager at W1M, said she would be interested to study the prospectus to find out what profit Anthropic is making.

"No doubt it'll be a multi-hundred pages document, but that's what we'll be looking for," she told the BBC's Today programme.

Sana Kharegani, chief strategy officer of AI firm Era 4, said Anthropic's decision to go before OpenAI's potential listing "carries a bit of a risk".

"But if things don't go exactly as planned... you're leaving the door for others to come after you," she added.

However, Troy Hooper, a leader of equity capital markets at Mergermarket, said going second, not first, was the ri