Anthropic

Artificial Intelligence · IPO

IPO

Anthropic's IPO reportedly draws orders for 6x the shares on offer

Underwriters are favoring existing shareholders for allocations, squeezing new investors out of what could become the biggest stock debut ever.

• Anthropic's IPO has drawn orders for roughly six times the 825 million shares on offer, Bloomberg News reported, as the firm markets what could be the largest listing in history.
• Anthropic, the AI lab behind the Claude chatbot, is targeting a fully diluted valuation of about $1.4 trillion ahead of its Nasdaq debut under ticker ANT.
• Anthropic and its co-founders aim to raise up to $64.4 billion in the IPO plus $26 billion in a concurrent private placement, a combined $90.4 billion that would surpass SpaceX's offering.
• Anthropic's annualized revenue run rate hit $81 billion as of Oct. 31, up $10 billion from September and $16 billion since July, according to its filings.
• Bankers are prioritizing Anthropic's existing backers in share allocations, meaning many new investors will receive smaller stakes than they requested.
• The demand surge contrasts with investor pullback from Nvidia, Anthropic's chip partner and a $10 billion backer in the private placement, after CEO Jensen Huang's ouster.
• Anthropic's IPO is shaping up as a barometer for investor confidence in the broader AI trade amid a recent tech selloff.