How China ‘risk factors’ loom over Anthropic’s hotly anticipated IPO filing

The AI giant’s IPO filing is riddled with references to China-related risks, from open-weight models to Taiwan

Mostly concentrated within the 93-page “risk factors” section of the filing with the US Securities and Exchange Commission, the disclosures reveal how the Silicon Valley start-up assesses the commercial threats posed by China and its artificial intelligence industry.

The warnings come as Anthropic prepares for what could become the largest initial public offering in history – and lays out plans for more than US$500 billion of AI infrastructure investment over the next 20 years.