Anthropic Targets $1.4tn Valuation in IPO, Plans to Raise $64bn
Anthropic plans to raise up to $64 billion in an initial public offering that could value the Claude maker at up to $1.4 trillion. The company aims to sell 825 million shares for $70 to $78 each, while seven technology companies have committed to buy $26 billion in separate non-voting shares.
Anthropic said Tuesday it plans to raise up to $64 billion in an initial public offering that could value the Claude maker at up to $1.4 trillion.
The company aims to sell 825 million shares for between $70 and $78 each, according to its filing with the US Securities and Exchange Commission. The shares will trade under the ticker ANT.
Seven companies commit $26 billion
Seven technology companies, including Google, Nvidia, AMD and Microsoft, have agreed to buy $26 billion in non-voting shares at the IPO price through a separate private placement. The companies are Anthropic investors or major suppliers of its computing power.
Anthropic had been expected to raise up to $100 billion. At the top of its proposed price range, the offering would still be smaller than SpaceX’s $86 billion IPO, which valued the company at $1.77 trillion.
The company has been aiming to go public the week of November 16, with shares reportedly set to begin trading on November 19.
Revenue rises as AI risks feature in filing
Anthropic reported revenue of $17 billion in the third quarter, up from $1.4 billion a year earlier. Its annualized run-rate revenue was about $81 billion as of October 31, up $10 billion from the end of September.
That run rate estimates a year of revenue based on the company’s current pace. Recent estimates had put Anthropic’s valuation as high as $2 trillion, before a decline in AI stocks pulled expectations lower.
The filing also details risks tied to advanced AI. Anthropic warned that the technology “could pose catastrophic or existential risks to society if not developed and deployed responsibly.”
The company said its public positions on AI regulation and safety could expose it to “political backlash, or disproportionate regulatory action.” The filing refers to disputes with the Trump White House after the Pentagon labeled Anthropic a national security risk over its refusal to lift restrictions on military use of its technology.
Anthropic also warned that it has committed hundreds of billions of dollars to computing capacity and must make many of those payments even if demand falls short.
Under the governance structure in its filing, the seven co-founders, led by Chief Executive Dario Amodei and President Daniela Amodei, will retain just over half of shareholder votes after the listing.
