Anthropic sets IPO at valuation of up to $1.4 trillion

Anthropic reaches its IPO at one of the most delicate moments of the year for the sector. You will surely remember that on November 5, the Nasdaq 100 lost about $2.3 trillion in a single session, its worst fall since March 2020, with drops of 9.3% in NVIDIA and 17.3% in AMD.

Added to that is the Jensen Huang scandal, which has already led to a class-action shareholder lawsuit against NVIDIA. In this murky context, the laboratory responsible for Claude has finally set the conditions for its release on the floor.

According to the updated prospectus it has filed with the SEC, the US securities regulator, Anthropic will sell 825 million shares at a price of between 70 and 78 dollars. At the top of that range, the company would reach a valuation of about $1.4 trillion, if stock options and other securities are included, or around $1 trillion without them. It is worth remembering that, when he presented his request at the end of October, figures of between 1.5 and 2 billion were involved.

Up to 90.4 billion with Google and NVIDIA among the partners

The public offer can bring in up to $64.4 billion. In addition, Anthropic will raise another 26 billion through a private placement with anchor investors such as Google, NVIDIA, AMD, Microsoft, Broadcom, Micron and TSMC, so that the complete operation could reach 90.4 billion. According to Reuterspreliminary terms that circulated on Monday among investment banks, and that were withdrawn shortly after, pointed to an offer of up to 69.3 billion. Jeff Zell, an analyst at IPO Boutique, explains that asking for a valuation about 20% below what the market expected allows investors to “bid up” at the exit.

The brochure also leaves new figures. The annualized income, that is, what it would bill in a year at the current rate, was around 81 billion dollars As of October 31, 10,000 million more than a month before. On the other hand, the company has signed computing commitments for almost 900,000 million with partners such as Amazon and Google.

Among the risks, Anthropic warns that its competitors could develop models faster and that AI advances could surpass its ability to apply adequate security measures, all in a document that talks about “bringing an era of miracles.”

By the way, the shares will be listed on the Nasdaq with the ANT symbolwith Goldman Sachs and Morgan Stanley leading the operation. According to The Wall Street JournalAnthropic wants to start trading on Thursday or Friday of next week. Investors are also following the operation closely because of what they can anticipate about OpenAI, valued at 1.25 trillion and seeking 30 billion in what would be its last private round before a possible IPO in early 2027.