San Francisco:Anthropic, the San Francisco-based developer of the AI chatbot Claude, has officially filed for an initial public offering (IPO), with ambitions of achieving a valuation of up to $1.75 trillion. This move marks a significant step towards one of the most substantial market debuts in history.

According to Anadolu Agency – English, the company's IPO prospectus reveals that Anthropic is aiming for a market valuation between $1.5 trillion and $1.75 trillion. The nearly 240,000-word document indicates that the firm's third-quarter revenue increased by nearly 50% from the previous quarter, reaching $16.8 billion and achieving profitability on an adjusted basis.

Despite reporting a net loss of $81 billion in the first half of the year, largely due to over $72 billion in charges related to convertible notes and nearly $9 billion spent on computing power and cloud infrastructure, Anthropic is planning to invest close to $800 billion in computing capacity over the next decade.

Goldman Sachs and Morgan Stanley have been secured as lead advisors for the IPO. The filing also outlines Anthropic's multi-class corporate governance structure, with the seven founders retaining 50.1% of voting power through Class F shares, and the Long-Term Benefit Trust holding Class T shares to appoint the majority of the board of directors.

Founded in 2021 by former OpenAI researchers and executives, including CEO Dario Amodei, Anthropic plans to list its shares after the US midterm elections in November but before Thanksgiving.