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Anthropic prices its shares at $70 to $78 for its stock market debut
IA en un minuto newsroom · Editor: Jon Elgezabal
In 30 seconds
Anthropic is taking 825 million shares to the Nasdaq with a range of $70 to $78 each, according to the prospectus it updated on Tuesday. Nvidia, Microsoft, Google and four other tech companies will also put in $26 billion privately, at the price the offering sets. CNBC points to November 18 as the day to fix the price and to the day after as the first trading session.
Anthropic now has a price range for its first day on the stock market. In the new version of its prospectus, filed on Tuesday, November 10, the company says it will put 825 million shares up for sale at somewhere between $70 and $78 apiece. If the deal closes at the top of that range, the company would take in up to about $64.4 billion.
A private placement worth $26 billion will run alongside the public offering. Nvidia, Microsoft, Google, TSMC, AMD, Micron and Broadcom have committed to buying shares at whatever price the offering finally settles on. That block sits outside the registered offering and is not covered by the lock-up periods agreed with the underwriting banks. Taken together, the two routes could bring Anthropic up to about $90.4 billion.
People familiar with the plans, quoted by CNBC, say the price would be set on November 18 and the stock would start trading the next day on the Nasdaq under the symbol "ANT". The same people say the company wants to keep around 20% for individual savers, when a normal IPO sets aside between 5% and 10%. At the highest price, Anthropic would be worth up to $1.405 trillion counting all diluted shares; the May funding round valued it at $965 billion.
The prospectus also gives business figures: $33.24 billion in revenue for the first nine months of the year and an annualised pace of roughly $81 billion at the end of October.
What the public offering can raise is less than the $69.3 billion that appeared in an earlier, since-withdrawn version of the prospectus, according to TradingKey, which relies on the draft reviewed by Reuters. Until recently a valuation of $2 trillion was being discussed, and some shareholders who spoke to CNBC now think even $1.5 trillion will be hard to reach.
Why it matters · analysis and opinion
Having chipmakers and cloud owners buy in advance, at whatever price emerges, changes how the deal reads. It locks in a huge share of the money before the book opens and cuts the risk of falling short in a market that already scrutinises what artificial intelligence companies are worth. But these are not neutral investors: those who sell chips and computing capacity to Anthropic gain if it grows, so their purchase does not measure the same thing as public demand. The range also trims the numbers that were circulating weeks ago. For anyone following the listing, what will matter is the final price and how the stock behaves in its first days, more than the prospectus.
Source: CNBC · Written with the help of AI: how we make the news
