The latest draft prospectus puts Anthropic’s IPO target below the previously circulated $69.3 billion figure, with shares expected to be priced between $70 and $78 apiece. A separate $26 billion private placement backed by Google, Nvidia, Microsoft and other technology giants will take the total fundraising to as much as $90.4 billion.
Anthropic’s blockbuster initial public offering (IPO) is now expected to raise as much as $64.4 billion, according to the latest draft prospectus seen by Reuters on Tuesday, November 10, as the artificial intelligence company prepares to launch its investor marketing campaign.
The updated fundraising target marks a revision from an earlier draft that had indicated the Claude maker could raise as much as $69.3 billion through its public listing.
Under the latest prospectus, Anthropic and some of its existing investors plan to sell shares at an indicative price range of $70 to $78 apiece. The company is also preparing to raise another $26 billion through a separate private placement involving some of the world’s biggest technology companies.
Combined, the public offering and private placement could bring Anthropic’s total fundraising to as much as $90.4 billion, making it one of the largest capital-raising exercises in the history of the technology industry.
Google, Nvidia, Microsoft among cornerstone investors
The $26 billion private placement will involve cornerstone investors, including Alphabet’s Google, Nvidia, Advanced Micro Devices (AMD), Broadcom, Micron Technology, Microsoft and Taiwan Semiconductor Manufacturing Company (TSMC), according to the draft prospectus.
The participation of these technology giants underscores the increasingly interconnected financial and infrastructure relationships shaping the global AI industry.
More from BusinessSeveral of these companies are not only investing in AI developers but are also supplying the chips, computing infrastructure and cloud services required to power the next generation of artificial intelligence models.
The deal details are expected to be announced soon. Anthropic and the cornerstone investors did not immediately respond to Reuters’ requests for comment.
AI valuations in the spotlight
The proposed listing comes amid growing investor scrutiny of the enormous capital requirements underpinning the AI boom.
Anthropic, founded in 2021 by former OpenAI executives Dario Amodei and Daniela Amodei, has emerged as a major competitor in generative AI through its Claude family of models.
Its expansion has been supported by strategic investments and infrastructure partnerships with companies such as Google and Amazon. However, the scale of its computing commitments and the industry’s massive infrastructure spending have raised questions about the sustainability of AI business models.
The IPO will offer investors an opportunity to assess the company’s growth prospects, revenue potential and ability to turn its rapidly expanding AI business into sustainable profits.
With a potential $90.4 billion fundraising exercise, Anthropic’s listing is also shaping up to be a major test of global investor appetite for artificial intelligence.
