AI Firm Anthropic Files Updated S-1, Seeks Up to $88.5 Billion in IPO and Private Placement
Anthropic plans to sell shares at $70-$78, aiming for a total raise of $88.5 billion with a fully diluted valuation cap of $1.4 trillion.
U.S.-based artificial intelligence company Anthropic submitted an updated S-1 registration statement on Tuesday, revealing details of its upcoming initial public offering (IPO) and concurrent private placement. According to Crunchbase News, the company plans to sell over 800 million shares in the IPO portion at a price range of $70 to $78 per share, expected to raise approximately $62.5 billion. Additionally, Anthropic anticipates pulling in another $26 billion from a private placement involving investors such as AMD, Broadcom, Google, Micron Technology, Microsoft, Nvidia, and TSMC. Combined, this totals up to $88.5 billion, potentially marking the largest-ever fundraise tied to a public market debut.
The updated filing sets a fully diluted valuation cap of up to $1.4 trillion for the San Francisco-based company. This figure comes in below earlier projections where many investors reportedly forecasted closer to $2 trillion. Nevertheless, even at $1.4 trillion, Anthropic would go public at the second-highest valuation in history, topped only by SpaceX's June debut. The company is expected to list on Nasdaq under the ticker symbol ANT later this month.
Financial disclosures show that Anthropic generated $33.2 billion in revenue for the first nine months of the year, up from $2.5 billion in the same period a year ago. Despite this rapid growth, the company is not yet profitable, posting an operating loss of $1.3 billion and a net loss of $104 billion for the nine-month period. The substantial capital raise is intended to support its expensive expansion and infrastructure investment plans.