Anthropic has set an initial public offering price range of $70 to $78 per share, aiming for a valuation of $1.404 trillion despite recent market softness in artificial intelligence investments. The company plans to sell 825 million Class A shares, which could generate between $57.75 billion and $64.35 billion in proceeds. This valuation represents an increase from the $965 billion figure reached during a May fundraising round but falls short of the $2 trillion target mentioned earlier this year. A separate private placement deal involves selling $26 billion of non-voting Class N stock to major technology firms including Google, Microsoft, Nvidia, and AMD. Google and Nvidia are each committing $10 billion to this transaction. Underwriters such as Goldman Sachs and Morgan Stanley hold the option to purchase up to 123.75 million additional shares. Trading is scheduled to begin on the Nasdaq under the ticker ANT around 19 November. The company reported third-quarter revenue of $17 billion against a nine-month net loss of $104 billion, driven by infrastructure costs exceeding $900 billion. Founders retain 50.1% voting power through Class F shares, ensuring the Long-Term Benefit Trust maintains board majority control.
- Net proceeds from the offering total between $84.6 billion and $93.7 billion including potential over-allotment.
- OpenAI was valued at $1.25 trillion last week after raising $11 billion.
- Anthropic holds nearly $132 billion in cash and short-term investments.
