Claude chatbot developer had been reported to be aiming for $2tn IPO on Wall Street before investors cooled on AI

Anthropic is seeking a valuation of up to $1.4tn (£1.1tn) in its imminent stock market flotation, short of the $2tn that had been expected before investors started to question the durability of the AI boom.

The developer of the Claude chatbot was widely reported to be targeting a $2tn initial public offering on Wall Street but its sights have been set lower, according to a US regulatory filing on Tuesday.