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Anthropic's banks consider raising its IPO price on strong demand, according to the Financial Times
IA en un minuto newsroom · Editor: Jon Elgezabal
In 30 seconds
Goldman Sachs and Morgan Stanley, the banks handling Anthropic's stock market debut, are weighing a higher price per share than the range published on Tuesday. According to the Financial Times, investor appetite is behind it, and the valuation could reach $1.5 trillion or more. Anthropic is seeking as much as $64 billion, and at a higher price the IPO would collect more than $100 billion.
Anthropic, the company that develops Claude, could go public at a higher price than planned. The banks running its initial public offering (IPO), led by Goldman Sachs and Morgan Stanley, expect to set a share price above the $70 to $78 range the company published on Tuesday, November 10. The Financial Times reports it, citing five people familiar with the deal, in a story that Expansión publishes in Spanish. The reason is the strong demand the banks saw in the first meetings with investors.
With that change, the valuation Anthropic is seeking would go from $1.4 trillion to $1.5 trillion or more in the coming days. Tuesday's filing gave a range of between $1.26 trillion and $1.41 trillion, counting every share, employee options included. The listing is expected next week.
The company wants to raise up to $64 billion, which could grow by almost $10 billion through an over-allotment option if demand exceeds supply. On top of that, Google, Nvidia and Microsoft, among other strategic partners, will put $26 billion into a private placement at the same price as the IPO. If the price goes up, the amount raised in the IPO would top $100 billion, according to the newspaper. Three of the company's investors told the FT that Anthropic cares more about gathering as much capital as possible to pay for its computing spending than about squeezing the valuation. Anthropic and Goldman Sachs declined to comment, and Morgan Stanley did not respond right away.
Why it matters · analysis and opinion
That the banks are thinking of raising the price after a single day of meetings with investors shows that appetite for the big AI companies is still alive, despite recent doubts about whether the AI boom is sustainable. The goal the investors point to, raising money to pay for computing rather than boasting about the valuation, says a lot about what it costs to compete with leading models. The risk lies in the timing: the deal comes a few days after a heavy blow to tech stocks, and a week is enough for the market's mood to change. For people who work with Claude, a company with plenty of cash points to continuity of the service, although also to more pressure for the business to deliver quarter after quarter.
Source: Expansión · Written with the help of AI: how we make the news
