Anthropic's IPO is an investor referendum on AI

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The tech company recently set its IPO price targeting a $1.4 trillion valuation, and the stakes for the AI industry are high.

That's Anthropic's best-case scenario for its upcoming initial public offering, according to its recent regulatory filing.

It's now up to the AI startup and its bankers to drum up interest with investors during its IPO road show, which started yesterday. The AI startup expects to price shares between $70 and $78.

An official go-public date hasn't been set, but the end of next week appears the likely candidate.

One thing that's not up to chance: The investors that committed to buying $26 billion in Anthropic shares at its IPO price.

The backers are some of the biggest names in the AI race, including Broadcom, Google, and Nvidia. It highlights an ongoing criticism of the industry relying too heavily on circular financing.

It's a chance for investors to either support (or avoid) a new, key bellwether for the AI industry.

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The last time the general public had its say on AI, things didn't go well for the tech. (See: midterms.)

Granted, these are investors, not general voters. Their interest is less about data centers in their backyard and more about whether it's a business that'll keep the stock price going up after they buy it.

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