Anthropic targets up to $90 billion for its IPO with a price range of $70-$78

Key Takeaways

1Anthropic expects a price range of $70 to $78 per share for its IPO

2Broadcom, Google, and Nvidia have committed to purchasing $26 billion in shares

3The total amount raised could reach $90 billion, with an implied valuation of around $1 trillion

Why it matters : This deal could become the largest IPO ever, marking a significant milestone for the AI sector.

The AI startup is preparing for its IPO with an indicative price range of $70 to $78 per share and anticipated purchases from Broadcom, Google, and Nvidia. The amounts discussed could bring the total raise to around $90 billion and support an implied valuation of approximately $1 trillion, with the operation aimed for mid-November.

Significant Losses and Committed Investments

According to its S-1 filing made public last month, Anthropic reports a total net loss nearing $42 billion in 2025, with projected revenue of $4.6 billion. The company generated nearly $17 billion in revenue in the third quarter while recording an operating loss of $567 million. It also mentions planned expenditures of $895 billion for computing and infrastructure, with nearly half expected to be committed by the end of 2030.

Potential Valuation and SpaceX Benchmark

A fundraising effort of this scale could give Anthropic an implied valuation of around $1 trillion. At the highest level considered, the operation would exceed the $75 billion initially raised by SpaceX's record IPO in June. SpaceX ultimately sold over $85 billion in shares.

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Price Range and Secured Purchase Tickets

Anthropic has set an indicative range between $70 and $78 per share. Based on this estimate, the company anticipates a raise between $57 and $64 billion. An agreement has also been reached with investors, including Broadcom, Google, and Nvidia, to acquire $26 billion in shares at the IPO price, thus bringing the total potential amount to around $90 billion.

Timeline, Previous Valuations, and History

The company plans to go public in mid-November and states that it will announce the date of the operation as soon as possible. Its valuation reached $965 billion following a $65 billion funding round announced in May. It achieved a valuation of $1.2 trillion in July on the secondary market. Founded in 2021 by Dario Amodei and former members of OpenAI, Anthropic aims to raise up to $90 billion during its IPO.