Anthropic's IPO and private placement target $88.5 billion, valuing company up to $1.4 trillion

Anthropic has detailed its upcoming public offering and concurrent private placement, aiming to raise a total of up to $88.5 billion. The company's S-1 filing suggests a fully diluted valuation of as high as $1.4 trillion, though this is below some investor forecasts of $2 trillion. The IPO component involves selling over 800 million shares priced between $70 and $78, which would yield approximately $62.5 billion, making it the second-largest IPO fundraise after SpaceX's $75 billion offering. An additional $26 billion is anticipated from a private placement, with major investors including Google, Microsoft, Nvidia, AMD, Broadcom, Micron Technology, and TSMC participating. The total offering encompasses 825 million shares, with 23.6 million allocated to selling shareholders. Financially, Anthropic reported $33.2 billion in revenue for the first nine months of 2026, a significant increase from $2.5 billion in the same period last year. Despite this growth, the company posted an operating loss of $1.3 billion for the nine-month period, down from $5.2 billion a year prior, while its net loss reached $104 billion, up from $25.1 billion the previous year.