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Anthropic Aims for $1.4 Trillion IPO Valuation

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Anthropic Aims for $1.4 Trillion IPO Valuation

Artificial intelligence startup Anthropic is targeting a valuation of about $1.4 trillion as it prepares to go public, according to a Tuesday (Nov. 10) filing with the Securities and Exchange Commission.

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The company hopes to raise as much as $90.4 billion, with a base offering of $64.4 billion and a $26 billion private placement, the filing showed.

The company is selling shares for $70 to $78 each, with 801.4 million shares from Anthropic itself and 23.6 million shares coming from stockholders. The $1.4 trillion is lower than the $2 trillion investors had anticipated earlier this year.

Anthropic was preparing to begin formal marketing of its IPO as soon as Tuesday, Bloomberg reported Monday (Nov. 9), pointing out some “last-minute drama” involving a filing mishap ahead of the listing. The hiccup happened Monday when a leaked prospectus mistakenly showed a $69.3 billion fundraising target before being retracted, in what Bloomberg described as an “unexpected jolt to investors” preparing for the IPO.

The figure, which Anthropic has since said was outdated, showed a target that would fall short of a previous goal of matching SpaceX’s record market listing, the report said.

A separate report from The Information said the retracted document was an updated prospectus from the company’s outside counsel in Canada. The counsel later told the banks that received the document that some of the details were not accurate and it would update the filing.


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