Anthropic sets IPO price range, targeting valuation of up to $1.4 trillion
Written by AI from cnbc.com's report. Not checked by a person.
Anthropic set a $70–$78 share price range for a Nasdaq IPO of 825 million shares, with pricing expected November 18 and trading November 19. The offering could raise up to about $64 billion.
According to CNBC, citing an updated SEC filing from November 10, Anthropic plans to sell 825 million shares at $70 to $78 under the ticker ANT. Pricing is expected on November 18 and trading on November 19, per people familiar. At the top of the range proceeds would reach $64.35 billion and the fully diluted valuation about $1.405 trillion, versus $965 billion in its May funding round. About 20% is targeted at retail investors. The company agreed to sell $26 billion of stock to AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC at the IPO price. Revenue for the nine months to September 30 was $33.24 billion, with a net loss of $104 billion, mostly from fair-value changes on convertible notes and derivatives. Run-rate revenue was about $81 billion at the end of October. CNBC also reports $900 billion in computing commitments. Valuation expectations have fallen from around $2 trillion. Anthropic released two new models on November 9.
