Anthropic released its S-1 on Monday. The lengthy prospectus sets up the AI lab for what could be the biggest IPO ever, targeting a valuation of around $2 trillion. The S-1 revealed a wide range of information about the company, including its quarterly results, financial statements, and risk factors, but one of the biggest questions facing the company is how to value it. Anthropic is often referred to as an AI lab, a new kind of company that builds generative AI models and products such as chatbots. The only other peer in this category that's close to its size is OpenAI, and that company is not public yet, so it doesn't help much for valuation purposes.
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