Anthropic (ANTH.PVT) is seeking a valuation of roughly $1.4 trillion in its highly anticipated IPO, setting the stage for one of the largest public-market debuts during the AI boom.

The AI developer said in an updated filing Tuesday that it plans to sell 825 million shares at between $70 and $78 each. At the top of that range, the IPO would generate up to $64.35 billion in proceeds. On a fully diluted basis, which includes employee stock options and other securities, the frontier AI lab could be valued between roughly $1.3 trillion and $1.45 trillion.