Anthropic targets $1.4trn valuation in blockbuster IPO
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The company has set the price of its common shares at between $70 and $78 each.
Anthropic has set a price range for its shares, bringing the AI company one step closer to what could be one of the biggest stock market launches in history.
In a filing today (10 November), the company said its shares would cost between $70 and $78 each. This would give the company a value of between $1.26trn and $1.41trn after it becomes a public company.
This is lower than the earlier expected value of up to $2trn. Anthropic's last announced funding round earlier this year valued the company at $965bn, making it one of the world's largest private companies.
Anthropic, the company that makes Claude, started the process of joining the stock market in June. It planned to list its shares under the code 'ANT'. However, it later delayed the planned launch until the middle of November.
Anthropic earned $33.2bn in revenue during the first nine months of this year. This was more than 1,200pc higher than the $2.5bn it earned during the same period last year. Its operating loss fell from about $5.2bn to $1.2bn, even though its expenses increased more than four times. However, its net loss remains at about $104bn.
Alongside its stock market launch, the AI company also plans to raise up to $26bn from Advanced Micro Devices, Broadcom, Google, Micron, Nvidia, Microsoft and Taiwan Semiconductor Manufacturing Corporation. Today's filings show that Google and Nvidia are together buying $20bn worth of these shares.
Earlier filings show that Anthropic has made several large spending commitments over the next few years. These include spending at least $45bn with Microsoft between November 2026 and May 2033, $114.5bn with Google, $110bn with Amazon and up to $120.5bn with SpaceX.
Chipmaker Broadcom has secured $63bn in funding from major US banks to pay for AI chips for Anthropic. The two companies have also announced a major joint agreement to use 3.5GW of Google's tensor processing unit capacity.
Yesterday (9 November), Anthropic released new versions of its Fable and Mythos models. The company said they “are designed to tackle the most daunting technical challenges”.