The stock market debut will be the first by one of the leading AI model developers and is being seen as a gauge of how long the AI spending boom lifting the US economy can last.
The maker of the Claude AI models said in a filing with the US Securities and Exchange Commission that it aims to sell 825 million shares at between $70 and $78 each (€62.44–€69.58). The shares will trade under the ticker “ANT.”
Seven tech companies including Google, Nvidia, AMD and Microsoft have also agreed to buy $26 billion (€23.2bn) of non-voting shares at the IPO price in a separate private placement, the filing showed.
The companies are investors in Anthropic or major suppliers of its computing power.
Anthropic had been expected to raise up to $100 billion (€89.2bn), which would have made it the largest IPO on record.
Even at the top of its price range, the offering would fall short of the record set by Elon Musk’s SpaceX, which raised $86 billion (€76.7bn) in its June IPO at a valuation of $1.77 trillion (€1.58trn).
Anthropic has been aiming to go public the week of November 16, and reports said its shares would begin trading on November 19.
Anthropic’s listing is “just another chapter” in investors’ worries over the cost of the AI buildout and how it gets financed, Art Hogan, chief market strategist at B. Riley Wealth Management, told AFP.
“But at the end of the day, I think there are three massive companies that investors have wanted to be part of for the last three years and that’s SpaceX for sure, Anthropic is next, and perhaps next year OpenAI,” he said.
The listing comes as Wall Street digests the results of the US midterm elections, in which Democrats, who are more wary of AI, won control of both chambers of Congress and have vowed to put the brakes on President Donald Trump’s agenda.
The slide has brought volatility to shares of companies linked to the AI boom, with AI chip-maker Nvidia particularly in focus after chief executive Jensen Huang was caught up in a spy scandal.
‘Catastrophic risks’
The company’s revenue reached $17 billion (€15.2bn) in the third quarter, up from $1.4 billion (€1.25bn) a year earlier, according to the filing.
Its annualized run-rate revenue was about $81 billion (€72.3bn) as of October 31, up $10 billion (€8.9 billion) from the end of September, the company said. This figure describes how much the company expects in a year based on current revenue.
Estimates in recent months had put Anthropic’s valuation as high as $2 trillion (€1.78trn), but they have slipped along with a slide in AI stocks on Wall Street.