Anthropic targets valuation of up to $1.02 trillion in US IPO
Written by AI from nbcnews.com's report. Not checked by a person.
Anthropic's filing shows it is seeking a valuation of up to $1.02 trillion, below the $1.5 trillion figure discussed earlier. It aims to raise up to $64.4 billion by selling 825 million shares at $70 to $78 each.
Anthropic is targeting a valuation of up to $1.02 trillion in its U.S. initial public offering, according to a filing seen on Tuesday. That is well below the $1.5 trillion valuation discussed previously, which some prospective investors had questioned, citing the company's large infrastructure commitments and recent volatility in AI-related stocks. Reuters reports it is a sign of cooling investor appetite for AI.
The company and some of its investors aim to raise up to $64.4 billion by selling 825 million shares in an indicative price band of $70 to $78 per share. Anthropic is also raising $26 billion through a separate private placement with cornerstone investors including Google, Nvidia and Advanced Micro Devices. Together, the offering is expected to raise up to $90.4 billion.
The shares are expected to trade on the Nasdaq under the ticker "ANT" after the IPO closes. Goldman Sachs and Morgan Stanley are leading the underwriting banks.
In the third quarter, revenue rose 47% from the previous quarter to $16.96 billion, slower than the 144% growth of the prior quarter, while the net loss narrowed. The company has nearly $900 billion in computing commitments. The prospectus also warns of competitive and safety risks. The listing is seen as a test of Wall Street's appetite for AI companies. Anthropic was last valued at $965 billion in a private funding round.
