Anthropic stock listing: Target price range hints at valuation lower than rumored reports as IPO date nears

For months, rumors have suggested that Anthropic could be valued at an enormous $2 trillion when it sells shares to the public for the first time (IPO).

But several analyses suggest that the company behind Claude is instead looking at a value between $1 trillion and $1.4 trillion.

On Tuesday, Anthropic updated its filing with the Securities and Exchange Commission (SEC). The new filing gave the clearest picture so far of what its IPO could look like.

The AI company plans to offer 825 million shares of Class A common stock. Each share is expected to cost between $70 and $78. Anthropic will sell more than 801 million shares, while existing shareholders will sell another 23.6 million shares.

Anthropic is also offering Class N common stock through a private sale to Google, Nvidia, Advanced Micro Devices (AMD), Broadcom, Micron Technology, Microsoft, and TSMC Partners.

Google and Nvidia will each buy the largest number of shares: 135,135,135. These shares are worth about $10 million each.

Anthropic expects the private sale to bring in about $26 billion. Together, the company could raise as much as $64.35 billion through its IPO.