Anthropic seeks up to $1.4 trillion valuation in looming IPO
Anthropic, maker of Claude, opened its investor roadshow on Tuesday and plans to go public next week, offering 825 million shares at $70–$78 in an SEC filing that could value the company at up to $1.4 trillion and raise $64.4 billion in one of the largest IPOs ever. It also lined up $26 billion in a private placement from Google, Nvidia, Microsoft and AMD. The $1.4 trillion target is below earlier $1.5–$2 trillion estimates as investors weigh infrastructure spending, swings in AI stocks, and whether AI firms can earn enough to justify soaring valuations.
Third-quarter revenue was $17 billion, up from $1.4 billion a year earlier, as net losses narrowed. On Tuesday Anthropic said it was on pace for about $81 billion in annual revenue, $10 billion above its estimate a month earlier, citing Claude demand in healthcare, financial services and legal services. To meet that demand it has committed almost $900 billion in computing costs with partners including Amazon and Google.
The IPO follows Democrats winning both chambers of the US Congress last week, raising the prospect of more AI regulation and restrictions on data-centre construction. AI stocks then slid, with the Nasdaq falling 5.5 percent on Thursday, its biggest one-day drop in more than a year. The sell-off, also driven by Nvidia, whose chief executive was targeted by an alleged Chinese spy, wiped out trillions of dollars. Markets have recovered some of those losses, though the Nasdaq dipped slightly below 1 percent on Tuesday. Some analysts said the reaction was overdone and that the election was unlikely to derail data-centre expansion.
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