Anthropic sets IPO price band at $70-$78 targeting $1.4 trillion valuation
The AI developer plans to offer 825 million shares and list on the Nasdaq later this month.
Artificial intelligence company Anthropic has established a price range of $70 to $78 per share for its initial public offering (IPO), according to a filing with the US Securities and Exchange Commission (SEC) on Tuesday. Mint reported that the five-year-old company could reach a fully diluted valuation of up to $1.405 trillion, a significant increase from its $965 billion valuation in May.
The company intends to offer 825 million shares, which could raise approximately $64.35 billion at the top of the price band. Moneycontrol noted that the offering includes 801.4 million shares from the company and 23.6 million shares being sold by backers. Additionally, Anthropic has entered agreements for a $26 billion private placement with partners including Google, Microsoft, Nvidia, AMD, Broadcom, Micron, and TSMC.
Anthropic, founded in 2021 by chief executive Dario Amodei, is a competitor in the generative AI market known for its Claude models. The company recently unveiled two new models, Claude Fable 5.2 and Claude Mythos 5.2. The filing shows that more than 90 per cent of contributions to Anthropic's code base were written by Claude.
Financial results show a sharp rise in revenue, which reached $33.24 billion for the nine months ended September 30, up approximately 1,200 per cent from the previous year. However, the company reported a net loss of $104 billion during that same period. Anthropic attributed most of this loss to changes in the fair value of derivative liabilities and convertible notes.
The Nasdaq debut, using the ticker symbol 'ANT', follows a record-breaking IPO by SpaceX. According to Bloomberg, the IPO is set to price on Wednesday, November 18.