Anthropic's $69.3 Billion IPO Plan Reportedly Sent to Banks Before Retraction; Company Unveils New Versions…
Details of Anthropic’s planned initial public offering (IPO), including plans to raise up to $69.3 billion, were reportedly sent to banks for a short time before the company took them back. Anthropic said the pricing information was incorrect.
An Anthropic representative emailed banks a securities filing on Monday. The representative then sent a second email saying the pricing details were wrong and that an updated filing would be sent later. The second email did not explain which details were incorrect, Reuters reported on Tuesday.
Withdrawn Filing Showed Plans to Raise $69.3 Billion
The first email included a copy of a securities filing that was later withdrawn. It showed that Anthropic planned to sell 866.7 million Class A shares for $70 to $80 each. This included 23.3 million shares being sold by current shareholders in a secondary offering. At the highest price, the sale would raise $69.3 billion, according to the report.
The filing also showed that $26 billion in investments had been arranged alongside the IPO. Alphabet Inc. (NASDAQ: GOOG), Nvidia Corp. (NASDAQ: NVDA), Advanced Micro Devices Inc. (NASDAQ: AMD), Broadcom Inc. (NASDAQ: AVGO), Micron Technology Inc. (NASDAQ: MU), Microsoft Corp. (NASDAQ: MSFT) and Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) had agreed to buy shares of Anthropic’s Class N common stock through a private sale at the IPO price. The sale was set to close right after the IPO, the report added.
Anthropic did not immediately respond to Benzinga’s request for comment.
Roadshow Planned as AI Company Listings Slow Down
Anthropic is expected to officially begin its roadshow on Tuesday, with the share price set the following week. Other companies that build AI infrastructure and data centers have delayed or canceled plans to go public. This comes as rising interest rates have helped cause a drop in the prices of shares and bonds issued by AI companies such as CoreWeave Inc. (NASDAQ: CRWV), according to the report.
Investors had discussed a possible company value of up to $2 trillion. But $1.5 trillion is now seen as the highest likely value, Reuters previously reported. Some major investors think the value could fall even more. One investor said it could be closer to $1 trillion, which could delay the IPO. Anthropic is aiming to start trading on the Nasdaq as early as Thursday or Friday next week.
Fable and Mythos 5.2 Released
On Monday, Anthropic introduced Claude Fable 5.2 and Claude Mythos 5.2. The company said these models produce results up to 30% faster than the previous versions. During testing before their release, Anthropic said the models helped engineers design three working electronic devices and find security weaknesses in software. The company also said that Mythos 5.2 is still only available to approved organizations.
Russ Fradin, CEO of enterprise AI analytics company Larridin, said on Monday that more than half of the Fortune 500 companies spend at least $100,000 a year with Anthropic. However, according to Anthropic’s S-1 filing, the company's revenue is less than 0.1% of these customers’ total spending on average. Fradin called this "probably the single most bullish thing" in the filing.
Disclaimer: AI tools helped produce part of this content. Benzinga editors reviewed and published it.
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