Anthropic 递交纳斯达克 IPO 申请（代码 ANT，传闻估值最高 2 万亿美元），SK 电讯等韩国投资方持股有望重估，但属已扩散的未兑现账面浮盈

SK Telecom's Anthropic stake could be worth W7.26tr; Naver and LG CNS also stand to benefit from blockbuster listing
Anthropic's planned Nasdaq listing could deliver substantial valuation gains to South Korean tech companies that invested in the US artificial intelligence startup, with SK Telecom emerging as a key potential beneficiary.
The developer of the Claude AI chatbot filed for an initial public offering with the US Securities and Exchange Commission on Monday, targeting a Nasdaq debut under the ticker "ANT" as early as November.
Anthropic is reportedly seeking to raise as much as $100 billion at a valuation of up to $2 trillion, potentially surpassing SpaceX's record $75 billion IPO in June. The filing did not disclose the number of shares to be offered or a proposed price range.
The listing would make Anthropic the first major frontier AI model developer to go public, ahead of ChatGPT maker OpenAI, and could significantly increase the value of investments made by Korean companies.
SK Telecom stands to benefit as one of Anthropic's early backers.
The telecom operator invested $100 million in Anthropic in August 2023, when the startup was valued at $5 billion, and established a strategic partnership. It acquired another 157,189 shares for roughly $100 million in the first half of this year.
The book value of SK Telecom's Anthropic holdings reached 3.51 trillion won ($2.65 billion) as of the end of June, up from 1.38 trillion won at the end of last year. If Anthropic achieves a $2 trillion valuation in its IPO, the stake could be worth an estimated 7.26 trillion won.
Beyond potential investment gains, the partnership could create additional business opportunities.
The two companies have collaborated on developing a large language model tailored to the telecommunications industry. Anthropic's recent opening of a Seoul office could further deepen cooperation in AI infrastructure and enterprise services.
SK Telecom has indicated that it intends to maintain its investment rather than cash out following the IPO.
"We will continue to strengthen our role in the global AI ecosystem as an AI infrastructure company through our partnership with Anthropic," an SK Telecom official told The Korea Herald.
SK Telecom CEO Jung Jai-hun expressed a similar position at a press conference in Tokyo in June, emphasizing continued investment and cooperation over realizing gains from Anthropic's listing.
Naver and LG CNS are also positioned to benefit from their investments and business ties with the US AI developer.
Naver invested about 10 billion won in Anthropic through an outside venture capital firm via its US investment arm, Naver Ventures, in the second half of last year.
The Korean internet giant has since introduced Anthropic's Claude Code coding agent across its development teams, combining it with its proprietary HyperClova X model as part of a strategy to use multiple AI models.
LG CNS invested in Anthropic through LG Technology Ventures in 2023. In June, the IT services provider signed an agreement to adopt Claude Enterprise, Anthropic's enterprise AI platform, as it seeks to expand its AI transformation business.
Samsung Electronics and SK hynix also reportedly invested at least 1 trillion won each in Anthropic in May.
Industry observers view the investments as part of efforts by the Korean chipmakers to broaden their AI partnerships beyond semiconductor supply into software and AI agents.
For these companies, Anthropic's listing could offer more than a financial return. A successful public debut could strengthen the startup's ability to invest in AI infrastructure and expand enterprise services, potentially creating new opportunities for its Korean partners.
Still, the scale of any investment gains will depend on Anthropic's final IPO valuation and subsequent share performance. Higher valuations would not necessarily translate into immediate profits, particularly for companies that intend to retain their stakes.
yeeun@heraldcorp.com