Anthropic sets the offering price range for IPO at $70 to $78 per share, with a valuation of $1.404 trillion
TechCrunch
1h ago
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Anthropic indicates that efforts will continue to advance IPO. The offering price range is set at $70 to $78 per share, which results in a valuation of approximately $1.404 trillion. The company also disclosed that it has reached agreements with AMD, Broadcom, Google, Micron, Microsoft, Nvidia, and TSMC to privately sell 26 billion shares of Class N stock without voting rights at the price of IPO.
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Anthropic indicates that despite a more volatile market environment and an overall decline in investments in artificial intelligence, the company still intends to proceed with its initial public offering (IPO).

In addition, Anthropic stated that an agreement has been reached to privately sell 26 billion US dollars worth of non-voting Class N shares to AMD, Broadcom, Google, Micron, Microsoft, Nvidia, and TSMC at the price of IPO. Google and Nvidia will each invest 10 billion US dollars.

Overall, it is estimated that the net fundraising amount for Anthropic will be between $84.6 billion and $93.7 billion; if the underwriters exercise their over-allotment rights, the latter figure will be even higher.

According to CNBC, Anthropic is scheduled to begin trading on NASDAQ around November 19th, with the stock code " ANT ". The company expects that up to 20% of the shares issued this time will be allocated to retail investors.

Anthropic also disclosed more details in the updated filing. The company stated that as of the end of October, its annual revenue reached $81 billion, an increase of about $10 billion from the end of September.

The document also lists the number of shares that the company's co-founders are expected to sell in IPO: the CEO Dario Amodei, President and Chairman Daniela Amodei, Chief Computing Power Officer Tom Brown, Anthropic Institute Director Jack Clark, Chief Science Officer Jared Kaplan, Chief Architect Sam McCandlish, and the person in charge of interpretability research Christopher Olah will all sell nearly 3.4 million shares each. Calculated at the median of the IPO issue price range of $74, each person could realize approximately $250 million.

The company's revenue in the third quarter was $17 billion, and for the first nine months, it was $33.2 billion. The company reported a net loss of $104 billion for the first nine months, while its commitments for computing power and infrastructure reached $900.9 billion. Its cash and short-term investments are close to $132 billion.

Anthropic's biggest competitor, OpenAI, is reported to have reached a valuation of $1.25 trillion after raising $11 billion last week, which is nearly half of the $20 billion it initially sought to raise.

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