Anthropic sets IPO price range at $70 to $78 a share
By the AFREEQUE newsroom, based on TechCrunch
The artificial intelligence company Anthropic, creator of Claude, is targeting a valuation of up to 1.404 trillion dollars in its stock market flotation. It plans to sell 825 million Class A shares, for net proceeds of between 84.6 and 93.7 billion dollars, according to an updated IPO filing. The Nasdaq listing is expected around 19 November, according to Reuters.
Anthropic, the artificial intelligence company behind the Claude model, plans to sell 825 million Class A shares at an estimated price of between $70 and $78 per share, according to an update to its IPO filing submitted on Tuesday, TechCrunch reports. The offering should raise between $57.75 billion and $64.35 billion, and value the company at up to $1.404 trillion if the price is at the top of the range. This amount remains below the $2 trillion the company was targeting a few months ago.
In parallel, Anthropic has concluded a private sale agreement of $26 billion in non-voting Class N shares, at the IPO price, with AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC. Google and Nvidia would each invest $10 billion. In total, Anthropic estimates its net proceeds at between $84.6 billion and $93.7 billion.
The founders hold one Class F share, which gives them 50.1% of the voting rights, and the Long-Term Benefit Trust elects the majority of the board of directors, which limits the influence of Class A share buyers. Trading on the Nasdaq is expected to begin around 19 November, under the symbol "ANT". For the first nine months, the company reports revenue of $33.2 billion and a net loss of $104 billion, according to the same filing.
