Anthropic seeks up to $64.4 billion in IPO at $70 to $78 a share

Anthropic launched its IPO roadshow on Tuesday, offering 825 million Class A shares at $70 to $78 each, enough to raise up to about $64.4 billion at the top of the range.

The range sets the first public-market price for the developer of the Claude models. The Information reported that an updated securities filing on Tuesday put Anthropic's tentative valuation at $1.26 trillion to $1.4 trillion, slightly below the $1.5 trillion investors had expected in October.

Anthropic itself is selling 801,351,354 of the shares, and certain existing stockholders are selling the remaining 23,648,646, according to the company's announcement. The company will not receive any proceeds from the stockholders' sales. It also expects to give the underwriters a 30-day option to buy up to 123,750,000 additional shares.

The company has applied to list on the Nasdaq Global Select Market under the symbol ANT. Its registration statement has been filed with the US Securities and Exchange Commission but has not yet become effective, and the shares cannot be sold until it does. Copies of the preliminary prospectus are available from Goldman Sachs and Morgan Stanley.

The Financial Times reported that Anthropic's bankers were preparing to raise the IPO valuation to $1.5 trillion or more after strong demand from investors. The New York Times reported on Tuesday that Nvidia planned to invest $10 billion in Anthropic alongside the offering, and that Amazon and Google, Anthropic's largest investors, could see their shares gain hundreds of billions of dollars in value.

Anthropic, founded in 2021 by former OpenAI employees, had been expected to make its prospectus public as early as October 26, The Information reported in October. On Monday the company released Claude Fable 5.2 and Mythos 5.2 at prices 20% below its previous models.