Anthropic Planned to Sell Shares at $70 Each — Then Admitted It Was a Mistake
The company withdrew a document that proposed listing approximately 867 million shares on the exchange
In the initial, later withdrawn document, Anthropic planned to list approximately 867 million shares at a price ranging from $70 to $80. Of these, around 843.3 million shares were to be sold by the company itself, while another 23.3 million were to be sold by existing shareholders. At the upper end of the range, the IPO could have raised $69.3 billion.
Later, the company sent a letter stating that the pricing data was incorrect and promised to provide updated information. The letter did not specify which details required correction. Reuters was unable to clarify this from other sources.
Alongside the IPO, Anthropic agreed to raise an additional $26 billion through a private share placement at the initial offering price. Participants in the deal included Google, Nvidia, AMD, Broadcom, Micron, Microsoft, and TSMC. The transaction was expected to close immediately after the IPO.
Anthropic was anticipated to begin a series of investor meetings, with the final offering price to be determined next week. Other companies in the artificial intelligence and data center sectors are postponing or canceling IPOs due to rising interest rates and investor skepticism.
Earlier, investors discussed valuing Anthropic at up to $2 trillion. Now, the upper valuation limit for the company is estimated at $1.5 trillion. Anthropic was founded in 2021 by former OpenAI employees and develops models in the Claude family. Google and Amazon provide it with computing power while remaining competitors in the artificial intelligence sector. In the third quarter, Anthropic reported nearly $17 billion in revenue, with its obligations to partners totaling nearly $900 billion.
