Anthropic targets $90.4 billion raise via public offering and private placement

- Company valuation could reach $1.4 trillion amid a frenzied race in the artificial intelligence sector

US-based Anthropic, developer of the chatbot Claude, and current investors are seeking to raise up to $90.4 billion through an initial public offering (IPO) and a private placement, a move that could make it the first company specializing in developing advanced AI models to list its shares on a stock exchange, with a potential valuation reaching $1.4 trillion.

Bloomberg, citing a filing made by the company with the US Securities and Exchange Commission (SEC), reported that the IPO aims to raise approximately $64.4 billion, at a price range of $70 to $78 per share, by selling around 825 million shares, including 23.6 million shares offered by current investors.

It added that the company intends to raise an additional $26 billion through a private placement involving major technology firms, including Google, Microsoft, Nvidia, Broadcom, AMD, Micron, and TSMC.

According to the offering terms, the company’s market capitalization could reach approximately $1 trillion at the upper end of the price range, while its valuation could reach around $1.4 trillion when accounting for shares and potential convertible instruments.

The total targeted funding, including the private placement, would exceed the proceeds of SpaceX’s standard offering, as questions grow regarding the high valuations of AI companies and their ability to generate returns commensurate with their massive investments.

Financial data showed that Anthropic’s revenues rose to approximately $17 billion in the third quarter of this year, compared to $1.4 billion in the same period last year, driven by increased adoption of its AI tools, particularly Claude Code, designed for software development.

Despite strong revenue growth, the company recorded an operating loss of $567 million in the third quarter, after posting operating profits of $974 million in the previous quarter, amid rising computing and infrastructure costs.

The company faces future financial commitments totaling approximately $900.9 billion, most of which are linked to providing the computing power and infrastructure necessary to develop and operate AI models.

Alongside its commercial expansion, Anthropic warned in its filing about the potential risks of the rapid development of AI, emphasizing the importance of adequate safeguards and oversight to ensure the safe development of this technology.

The offering plans come amid intensifying competition with OpenAI, which also aims to list on financial markets by 2027, amid a race among major technology companies to attract investments.

Anthropic seeks to list its shares on the Nasdaq under the ticker symbol “ANT,” with Goldman Sachs and Morgan Stanley leading the offering process.