Anthropic Sets IPO Price Range of $70 to $78, Looks to Start Trading Nov. 19, Sources Say
Anthropic's IPO is expected to come roughly five months after Elon Musk took SpaceX public in a record offering.
TL;DR
- Anthropic plans to offer 825 million shares at $70-$78 per share, aiming for a Nasdaq debut on November 19th.
- The company is targeting a 20% retail allocation, significantly higher than typical IPOs.
- At the high end, the IPO could net $64.35 billion, with a potential fully diluted valuation of $1.405 trillion.
- Anthropic has an agreement with Advanced Micro Devices, Broadcom, Google, Micron, Microsoft, Nvidia, and Taiwan Semiconductor Manufacturing Co. to purchase $26 billion in a private placement.
- The company faces a tumultuous political environment and a skeptical public market concerned about rising interest rates.
- CNBC reported some investors expected a lower valuation than previously anticipated.
- Anthropic's debut would follow SpaceX's record offering approximately five months prior.
- Institutional demand for Anthropic is reported to be stronger than for SpaceX at a similar stage.
- Anthropic, co-founded by Dario Amodei after leaving OpenAI, is known for its Claude AI models and primarily serves businesses.
- The company recently released two new AI models, Claude Fable 5.2 and Claude Mythos 5.2, after a call to slow AI development.
- For the nine months ended Sept. 30, Anthropic reported $33.24 billion in revenue, a 1,200% increase year-over-year, and a $104 billion net loss.
- Run-rate revenue was approximately $81 billion at the end of October, an increase of $10 billion from the previous month.