Anthropic Sets $70–$78 IPO Price Range for 825 Million Shares
Anthropic said in an updated filing that it plans to offer 825 million Class A shares at an indicative price of $70 to $78 per share, raising $57.75 billion to $64.35 billion if completed as proposed. Separately, seven investors—AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC Partners—plan to subscribe to $26 billion of non-voting Class N stock at the IPO price. Google and Nvidia are each allocating $10 billion. The private placement would close after the IPO and remains subject to completion and other conditions. The final offering price and listing date have not been announced.
The proposed scale could make Anthropic one of the largest AI listings to date. DoNews said participation by companies across the chip, computing and cloud-service supply chain strengthens funding certainty and investor confidence.
Anthropic intends to push ahead with its IPO despite shakier markets and the broader pullback from AI investing.
The Claude-maker said in an updated IPO filing on Tuesday that it would be offering a total of 825 million Class A shares at an estimated price range of $70 to $78 per share. The sale is expected to raise anywhere from $57.75 billion to $64.35 billion.
The company could end up being worth a hefty $1.404 trillion if its shares list at the top of the price range, on a fully diluted basis. That would represent a significant jump up from the $965 billion valuation Anthropic reached in a May fundraise, but it’s still lower than the $2 trillion the company was reportedly targeting a couple months ago.
Separately, Anthropic said it had struck a deal to privately sell $26 billion of non-voting Class N stock at the IPO price to AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC. Google and Nvidia are investing $10 billion apiece.
All up, Anthropic estimates net proceeds to reach somewhere between $84.6 billion to $93.7 billion.
Underwriters, including Goldman Sachs and Morgan Stanley, will have the option to buy up to 123.75 million more shares from Anthropic at the IPO price.
As a public benefit corporation, the founders hold a Class F share with 50.1% of the voting power. The Long-Term Benefit Trust will also elect a board majority, so Class A buyers will have limited influence.
Anthropic intends to start trading on the Nasdaq close to November 19, per reporting from CNBC, under the ticker symbol “ANT”.
Anthropic’s third-quarter revenue came in at $17 billion, and nine-month revenue was $33.2 billion. The company reported a nine-month net loss of $104 billion, with compute and infrastructure commitments hitting $900.9 billion. It has nearly $132 billion in cash and short-term investments.
OpenAI, Anthropic’s biggest rival, was reportedly valued at $1.25 trillion last week after it raised $11 billion, nearly half the $20 billion it had first tried to raise.
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