CompaniesUnited States

Anthropic IPO draws Wall Street banks and everyday investors

Demand for Anthropic's public offering is about six times the shares on offer, while Wall Street banks pitch and everyday investors prepare to join. Bitcoin fell below $69,000 amid worries that holders might cash out to pay for the deal.

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Anthropic, the maker of the Claude AI model, is seeking to raise $64.4 billion in a public listing and a further $26 billion in a private placement, a sale of shares to chosen buyers outside the open market. Together, the company and its co-founders could take in up to $90.4 billion. That would make the deal bigger than SpaceX's offering.

Unlike SpaceX, major investors are expected to hold more sway over the first share price, at a time when the AI trade is in flux. The listing would also be the largest IPO of all time, joining a year of deals far larger than any seen in the past decade.

Bitcoin$63,916down −22.13%over 1 month
$84,082$63,97616 Oct15 Nov

Prices by CoinGecko. Past moves say nothing about future ones.

Institutional buyers based in mainland China and Hong Kong have been shut out of placing orders, in a field both Washington and Beijing treat as strategic. Meanwhile, Wall Street banks have made their pitch, and smaller investors are getting ready to buy in, with Interactive Brokers giving European clients access to the offering.

not super fussed

Amodei, Anthropic's chief

Jack Hidary, CEO of SandboxAQ, has called the listing a key bellwether, a signal of how investors view the wider market. Amodei has played down market turmoil ahead of the offering and has told Jamie Dimon he hopes it will beat expectations.

Anthropic offering amounts

  • Public listing64.4 billion $
  • Private placement26 billion $
  • Up to, combined90.4 billion $

Figures on the offering as stated in the material.

What comes next

Pricing is set for Nov. 18, with trading on the Nasdaq expected around midday on Nov. 19.

$1,000 in Bitcoin

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Background

Before this, the record for the largest share sale belonged to SpaceX, the company led by Elon Musk. The IPO would join about half a dozen other jumbo equity deals already made this year.

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