Anthropic retracts $69bn IPO plans after sending inaccurate figures to banks

Anthropic has withdrawn the pricing details for its planned stock market debut after sending banks figures it later said were inaccurate. The reversal comes as the Claude developer prepares to market its shares and investors weigh the prospects and costs of the AI sector amid recent technology market volatility.

The withdrawn filing proposed selling about 867 million shares for $70 to $80 each, which could have raised up to $69.3bn; it also listed $26bn in investment commitments from technology companies. Anthropic did not say which figures were wrong. The company had been expected to seek a valuation of about $1.5tn, while Morningstar’s estimate ranges from $500bn to $3tn; Anthropic reported nearly $17bn in September-quarter revenue and almost $900bn in future computing commitments.