Anthropic PBC is planning a US initial public offering that would include a share sale to Japanese investors worth up to $3.5 billion, according to reporting that cites IPO materials. The proposal would make the deal larger and more internationally sourced than typical first-time listings.

The outlets frame the move as part of Anthropic’s broader effort to raise significant capital in the US while targeting demand from Japan. Bloomberg describes the IPO as a “landmark” for the artificial-intelligence startup and notes it occurs in a market with few first-time offerings. Seeking Alpha and Channel NewsAsia similarly focus on the Japan component and refer to the share-sale size described in the filing or report.