Anthropic's $69.3 Billion IPO Plan Reportedly Sent to Banks Before Retraction
Editor's note: The headline of this story was changed.
Details of Anthropic's planned initial public offering (IPO), including a plan 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 that the pricing details were wrong and that the filing would be updated 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Withdrawn Filing Showed Plans to Raise $69.3 Billion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. The information in the filing was later withdrawn.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. At the highest price of $80 per share, 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. GOOG, Nvidia Corp. NVDA, Advanced Micro Devices Inc. AMD, Broadcom Inc. AVGO, Micron Technology Inc. MU, Microsoft Corp. MSFT and Taiwan Semiconductor Manufacturing Co. Ltd. TSM had agreed to buy Anthropic's Class N common shares in a private sale at the same price as the IPO. The sale would close immediately after the IPO, the report said.
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. The share price is expected to be set the following week. Other companies that build AI infrastructure and data centers have delayed or canceled plans to go public. This comes as higher interest rates have helped cause investors to sell shares and bonds of AI companies such as CoreWeave Inc. CRWV, according to the report.
Investors had discussed valuing Anthropic at as much as $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 put it closer to $1 trillion. This could delay the IPO. Anthropic is aiming to start trading on the Nasdaq as soon as Thursday or Friday of 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, the company said the models helped engineers design three working electronic devices and find weaknesses in software. Anthropic also said that Mythos 5.2 is still available only to approved organizations.
Russ Fradin, CEO of business 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 expenses on average. Fradin called this "probably the single most bullish thing" in the filing.
This article was partly created with the help of AI tools and was reviewed and published by Benzinga editors.
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