Anthropic sets IPO price range at $70-$78, reveals key financials and strategic deals

Anthropic has disclosed updated details regarding its upcoming Initial Public Offering, setting a price range between $70 and $78 per share for the offering of 825 million Class A shares. This sale is projected to generate between $57.75 billion and $64.35 billion. If the highest price is achieved, the company's fully diluted valuation would reach $1.404 trillion, surpassing its previous May fundraise valuation of $965 billion, though remaining below a prior $2 trillion target. In a separate transaction, Anthropic agreed to privately sell $26 billion worth of non-voting Class N stock at the IPO price to major investors including AMD, Broadcom, Google, Micron, Microsoft, Nvidia, and TSMC, with Google and Nvidia each committing $10 billion. The company estimates total net proceeds could range from $84.6 billion to $93.7 billion, with underwriters like Goldman Sachs and Morgan Stanley retaining an option to purchase up to 123.75 million additional shares. Further disclosures indicate Anthropic's run-rate revenue reached $81 billion by the end of October, up from $71 billion at the end of September. The co-founders, including CEO Dario Amodei and Daniela Amodei, are each planning to sell nearly 3.4 million shares. The company plans to begin trading on the Nasdaq near November 19 under the ticker ANT, while its third-quarter revenue stood at $17 billion.