Anthropic Targets Pre-Thanksgiving IPO at $2 Trillion Valuat…
Anthropic aims to start the formal marketing for its initial public offering as soon as the week of Nov. 9 and begin trading before the Thanksgiving holiday, Nov. 26, Bloomberg reported Thursday (Oct. 1), citing unnamed sources.
The company is still considering its plans for the IPO, and the timing could change, the report said.
Prospective investors believe Anthropic could be valued at between $1.8 trillion and $2 trillion in the IPO, per the report.
Anthropic did not immediately reply to PYMNTS’ request for comment.
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Anthropic announced June 1 that it confidentially filed for an IPO and that the timing would depend on market conditions and other factors.
The Wall Street Journal reported Sept. 18, citing unnamed sources, that Anthropic was planning to launch its IPO in November. The report said that was later than the October debut many investors had expected.
WSJ said the November date may have been chosen to allow Anthropic to share its third-quarter financials, which were expected to show strong results. The date as chosen before the recent debate about whether artificial intelligence is developing too quickly, according to the report.
Reuters reported Monday (Sept. 28) that it had gotten a look at Anthropic’s IPO plans and that the prospectus showed that the company reported a $42 billion net loss last year and projected $518 billion in spending on cloud, computing and infrastructure needs in the years ahead.
The prospectus also showed sharp growth for Anthropic in the past year, along with wider losses. The company’s revenue came to nearly $4.6 billion, a 12-fold increase, while it lost more than $8 billion on an operating basis, not counting write-downs of various liabilities mostly related to past fundraising, the Reuters report said.
Reuters also reported Monday that Anthropic’s IPO filing shows that the company is creating a Founder LLC vehicle that will be composed of the company’s seven co-founders and will focus on stewarding the firm’s mission even when it conflicts with market forces.
A single share of Class F stock will amount to 50.1% of total voting power over corporate matters such as the election of some board members and other matters submitted to investors, and that share will be directed by a majority vote of the seven co-founders, the report said.
