Bloomberg: Anthropic's IPO Six Times Oversubscribed, On Track to Be Largest Public Offering in History
Bloomberg reports Anthropic's IPO orders exceed available shares by six times, signaling strong institutional demand and potential record-breaking scale.
According to Bloomberg, U.S.-based artificial intelligence company Anthropic's initial public offering (IPO) is currently facing severe excess demand, with orders exceeding available shares by a factor of six. This level of interest positions it to surpass SpaceX's previous record and become the largest public offering in history.
Anthropic and its co-founders aim to raise up to $64.4 billion through the public offering and another $26 billion via a private placement. The target valuation sits at roughly $1.4 trillion, with existing investors receiving priority in share allocation.
Strong financial performance appears to be fueling much of this demand. By late October, Anthropic's annualized revenue had climbed to $81 billion, up from $71 billion in September. Nvidia is itself buying $10 billion in Anthropic stock through the private placement. Goldman Sachs and Morgan Stanley are managing the Nasdaq listing under the ticker ANT.
Despite prior market concerns regarding the sustainability of AI spending and potential data center overcapacity, such high subscription multiples indicate that institutional investors remain willing to lock in shares of leading AI companies at high valuations. CEO Dario Amodei will pitch investors alongside JPMorgan CEO Jamie Dimon in a Friday livestream.