Anthropic sets IPO price range of $70 to $78 per share, valuing it at up to $1.404 trillion
The listing would be well below the $2 trillion valuation the company was reportedly targeting a couple of months earlier.
Anthropic, the maker of the Claude chatbot, has set an IPO price range of $70 to $78 per share for 825 million Class A shares, which would raise between $57.75 billion and $64.35 billion. At the top of that range the company would be valued at about $1.404 trillion on a fully diluted basis, well below the $2 trillion it was reportedly targeting a few months earlier. Google and Nvidia have agreed to privately buy $10 billion of stock each at the IPO price, with AMD, Broadcom, Micron, Microsoft and TSMC also taking part in a $26 billion private placement of non-voting shares. Trading on the Nasdaq under the ticker ANT is expected around November 19. The company's third-quarter revenue reached $17 billion, but it posted a nine-month net loss of $104 billion, and the founders' super-voting Class F share gives them 50.1% of the voting power.
Why it matters
The offering shows how far the valuation target has moved in a short period, and it gives public investors their first chance to buy into one of the largest private AI companies. Google and Nvidia's $10 billion private purchases at the IPO price tie two major technology suppliers directly to the listing. The founders' Class F share, which carries 50.1% of the voting power, means ordinary shareholders will have limited influence over the company's direction even after it trades on the Nasdaq.
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