Anthropic retracts $69.3 billion IPO details citing inaccurate pricing
The AI startup behind Claude sent incorrect filing details to bankers and promised to provide updated figures later.
AI startup Anthropic has retracted details of its proposed initial public offering (IPO) after sending inaccurate pricing information to bankers, according to a Reuters report cited by Mint.
The company initially circulated a filing that showed it aimed to raise as much as $69.3 billion. The original document indicated Anthropic planned to sell approximately 867 million shares at a price range of $70 to $80 per share.
In a follow-up email, Anthropic stated the pricing details were inaccurate and said it would update the filing later. The original filing showed the company planned to sell 866.7 million Class A shares, including 843.3 million from Anthropic and 23.3 million from existing shareholders.
Potential investors have been discussing valuations for the company between $1.1 trillion and $1.3 trillion, according to Bloomberg. This is lower than the company's initial valuation target of up to $2 trillion.
The reassessment of valuations follows a sell-off in AI stocks after the US midterm elections last week. Anthropic, founded in 2021, was on track for what could be the largest-ever IPO, potentially surpassing the SpaceX debut in June this year.
The company is expected to formally launch its roadshow on Tuesday, with pricing expected in the following week.