Anthropic’s planned large-scale IPO is presenting investors with a complex valuation challenge as they attempt to price extreme risks associated with artificial intelligence. Market participants face difficulties assessing a company that key stakeholders, including its own leadership, have warned could pose catastrophic dangers if safety measures fail. CEO Dario Amodei has previously written about the potential for humanity to lose control over AI systems, alongside risks involving cyberattacks and bioterrorism. These concerns are compounded by discussions among researchers estimating the probability of AI-induced human extinction at over 10%, creating significant uncertainty for pricing the upcoming public offering.