Anthropic submitted an updated S-1 filing for its IPO on Tuesday, seeking up to $88.5 billion through a public offering and concurrent private placement. The company plans to sell just over 800 million shares at $70 to $78 per share, which would raise around $62.5 billion in the IPO portion. At the high end, the offering values Anthropic at $1.4 trillion on a fully diluted basis. A private placement following the IPO is expected to pull in another $26 billion from investors including AMD, Broadcom, Google, Micron Technology, Microsoft, Nvidia, and TSMC.
If successful, the combined $88.5 billion would be the largest fundraise tied to a public market debut. Anthropic's IPO valuation sits below earlier investor projections of around $2 trillion. The company is expected to debut on Nasdaq under ticker ANT later this month.
Anthropic's financial disclosures through September show $33.2 billion in revenue for the first nine months of the year, up from $2.5 billion in the same period last year. The company posted an operating loss of $1.3 billion for the nine-month period, down from $5.2 billion a year earlier, though its net loss widened to $104 billion from $25.1 billion.