The developer of the chatbot Claude, Anthropic, has determined the preliminary price of shares for going public in the range from $70 to $78 per share. At the upper limit, the total value of the securities offered to the public would reach $64.4 billion, and the company’s valuation, taking into account the potential increase in the number of shares, could approach $1.4 trillion.
Image source: Anthropic
Anthropic has filed an updated prospectus with the U.S. Securities and Exchange Commission (SEC). Investors will be offered 825 million class A shares. Of these, about 801.4 million will be issued by the company itself, and another 23.6 million will be sold by existing shareholders. Anthropic will not receive any funds from the sale of the latest package.
In parallel, the developer Claude expects to raise $26 billion through a private placement of class N shares. Google, Nvidia, AMD, Broadcom, Micron, Microsoft and TSMC have agreed to participate in it. Thus, the total cost of public and private placements could reach $90.4 billion.
Anthropic’s $1.4 trillion valuation takes into account not only shares outstanding, but also employee options and other instruments that could increase its number. Without such a calculation, the company’s capitalization at the upper limit of the price range will be about $1.02 trillion.
The new terms differ from the draft version, which Anthropic withdrew after sending to investment banks. Then it was a question of selling approximately 867 million shares at a price of up to $80 per share. The company later admitted the pricing information was erroneous and promised to provide corrected data.
Back in October, investors discussed the possibility of valuing Anthropic at $2 trillion. However, amid declines in tech stocks and concerns about massive spending on AI infrastructure, expectations have cooled. The new placement parameters turned out to be noticeably more modest than the original ones.
Anthropic intends to list shares on the Nasdaq exchange under the ticker symbol ANT. The company has begun meetings with potential investors, following which the final price will be determined. How writes The Verge, the first auction may take place on November 19 or 20. The official date has not yet been announced.
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