{"text":[[{"start":7.92,"text":"Anthropic is targeting a valuation of up to $1.4tn in its initial public offering, as the AI company and its backers plan to raise as much as $64bn in one of the biggest Wall Street debuts of all time."}],[{"start":21.44,"text":"The Claude maker said it and some of its existing investors planned to sell 825mn shares at a price range of $70-$78, according to an updated filing with regulators as it begins its roadshow on Tuesday."}],[{"start":35.08,"text":"The target valuation marks a jump from $965bn in its last private financing in May but falls short of the record set by SpaceX’s IPO this summer and some investors’ earlier expectations that it could be worth closer to $2tn."}],[{"start":50.24,"text":"The group’s landmark listing comes as Wall Street grapples with the repercussions of the US midterm elections on the AI boom, with the Democrats vowing to slow the expansion of data centres."}],[{"start":61.8,"text":"Anthropic also said that it planned to raise a total of $26bn in a private placement, at the same pricing as the IPO, from chip suppliers including Nvidia, AMD, Micron, Broadcom and Taiwan Semiconductor Manufacturing Company, as well as cloud computing providers Google and Microsoft."}],[{"start":80,"text":"If the IPO goes well, Anthropic could raise a further $9.7bn through the underwriters’ over-allotment option or “greenshoe”. That, combined with the private placement, would push the total raised by Anthropic and its investors to around $100bn, if the shares were sold at the top end of its current range."}],[{"start":99.84,"text":"Tuesday’s filing implies a valuation range of between $1.26-1.41tn, calculated on a fully diluted basis that also accounts for employee stock options and other restricted shares."}],[{"start":null,"text":"