Anthropic's IPO is set to raise as much as $64.4 billion, a regulatory filing showed on Tuesday, in a landmark test of whether Wall Street's faith in the AI boom outweighs concerns over its risks.

The company is targeting a valuation of up to $1.02 trillion, according to Reuters calculations based on the outstanding shares listed in the filing.

Reuters exclusively reported on Tuesday that Anthropic and some of its investors plan to sell shares in an indicative price band of $70 to $78 per share.

The company is launching the roadshow for a historic share sale that is expected to set a benchmark for the sector, following years of hype that have fuelled a massive influx of capital into AI companies.

Anthropic will also raise $26 billion through a separate private placement deal with cornerstone investors, including Alphabet's Google, Nvidia and Advanced Micro Devices, Reuters reported.

Together with investments from cornerstone investors, which include Broadcom, Micron Technology, Microsoft and TSMC, the Anthropic share offering will raise a total of up to $90.4 billion.

Details of the blockbuster deal were briefly circulated to investment banks before being retracted late on Monday, according to emails seen by Reuters.

The second half of the year has brought a reckoning for the AI boom, as investors question whether returns will justify massive spending and mounting debt costs in an elevated interest-rate environment.

Concerns are also rising over the sustainability of the investment cycle, with questions around circular financing arrangements, the risk of infrastructure overcapacity and how quickly companies can turn their AI investments into revenue.

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