Anthropic said it is aiming for a $1.4 trillion market capitalization when it is expected to go public next week — a discount to the $2 trillion valuation it reportedly had been seeking earlier, but still making it the second-largest public offering ever.
The AI juggernaut behind the Claude chatbot set a price range of $70 to $78 for share as it looks to raise up to $64.billion in a deal that’s expected later this month, according to a Tuesday SEC filing.
The company will sell 825 million shares including those sold by insiders. The company’s run-rate revenue was about $81 billion by the end of October which was up $10 billion from the prior month, according to the filing.
As the first standalone AI frontier lab to go public, investors will have a shot at putting money on a company built on what many believe will be the most consequential technology in a generation.
This summer, Elon Musk’s rocket company SpaceX set a record when it went public with a $1.77 trillion valuation.
Anthropic will also raise up to $26 billion from tech investors including Google and Advanced Micro Devices, a semi-conductor manufacturer, the filing said. The scandal-plagued company, Nvidia, whose stock was down 4.27% on Monday, has also agreed to buy shares of the company.
Anthropic’s products are powered by Nvidia chips. Some investors fret that continued fallout from Jensen Huang’s scandalous affair with an alleged Chinese spy could complicate Anthropic’s IPO.
The announced sales price also comes a week after a historic tech selloff thanks to a “blue wave” election results. Democrats’ stances on data center and other tech regulations spooked investors on the industry’s potential to keep skyrocketing.
Many wondered if Anthropic would be able to proceed with its planned roadshow and if they should offer a bigger discount to investors.
The tech-heavy Nasdaq suffered a $2.5 trillion wipe out of market value after the election.
Earlier this week market gains signaled that investors feel more stable in the market and would be taking a level-headed approach, according to the Wall Street Journal.
CEO Dario Amodei is planning a livestream event with Chase CEO Jamie Dimon to talk about the IPO on Friday, according to Bloomberg.
Anthropic plans to list on the Nasdaq under the ticker “ANT.”
