Rumors have spread for months that Anthropic’s IPO valuation could reach the head-spinning sum of $2 trillion.
In reality, the creator of Claude is looking at a valuation range of $1 trillion to $1.4 trillion, according to a range of analyses.
On Tuesday, Anthropic’s updated Securities and Exchange Commission (SEC) filing provided the clearest look yet at what its IPO will look like.
The AI company plans to offer 825 million shares of Class A common stock at an estimated price of $70 to $78 each. Anthropic is selling more than 801 million shares, while its selling stockholders are offering another 23.6 million shares.
Anthropic is also offering up Class N common stock in a private placement to Google, Nvidia, Advanced Micro Devices (AMD), Broadcom, Micron Technology, Microsoft, and TSMC Partners.
Google and Nvidia will purchase the largest amount at 135,135,135 shares each, worth about $10 million.
Anthropic predicts the private placement deal will be worth about $26 billion. In total, Anthropic could raise up to $64.35 billion through the IPO.
The exact date of the Anthropic IPO is still up in the air but likely to be mid-November. The company has applied for listing on Nasdaq under the ticker “ANT.”
How is Anthropic doing?
It’s no secret that investors are continuing to fear an AI bubble—with the midterm election results offering more uncertainty about the future of data center buildouts.
Anthropic has seen its growth slow this year. In October, the company reported a 45% increase in revenue for quarter three, down from 60% between quarters one and two.
Following these results, investors had started leaning toward an IPO valuation closer to $1.5 trillion, rather than $2 trillion.
Of course, an IPO valuation over $1 trillion is still remarkable. If accurate, Anthropic will have one of the biggest IPOs of all time—though falling short of SpaceX’s record $1.77 trillion listing earlier this year.