Anthropic sets IPO range valuing it at up to $1.4 trillion amid AI stock sell-off
AI lab Anthropic has launched the roadshow for its long-awaited initial public offering. The company announced a price range of $70 to $78 a share, a range that would value the AI lab at up to $1.4 trillion on a fully diluted basis, but is well short of the $2 trillion that some news outlets had reported just weeks ago. Anthropic filed confidentially in June and made its prospectus public on Oct. 26. SpaceX, which listed in June, had sought a valuation of about $1.75 trillion. Trading in Anthropic shares could start as early as Wednesday or Thursday next week.
TL;DR
- Anthropic has initiated its IPO roadshow, setting a price range of $70-$78 per share, valuing the company up to $1.4 trillion.
- The company plans to sell 825 million shares on the Nasdaq under the ticker "ANT", potentially raising up to $64.4 billion.
- Seven strategic partners, including Google and Nvidia, will buy $26 billion of non-voting stock.
- Anthropic's annualized revenue run rate reached approximately $81 billion by the end of October.
- The AI sector is experiencing a sell-off due to fears of increased regulation and instability at Nvidia.
- Anthropic's prospectus warns of safety risks associated with recursive self-improvement (RSI) and AI systems building their successors.
- Internal estimates suggest Anthropic may soon meet its Responsible Scaling Policy's definition of "dramatically accelerated progress attributable to AI" due to AI automating research.