Anthropic targets $1 trillion valuation with record IPO and placement plans

Anthropic is seeking to raise up to $90.4 billion through a public share sale and a private placement, in a potential record-breaking IPO that would test investor appetite for AI stocks. At the top of its proposed price range, the Claude chatbot maker would be valued at about $1 trillion.

The company plans to offer around 801.4 million shares at $70 to $78 each, potentially raising up to $64.4 billion; existing backers would sell 23.6 million shares. Technology companies including AMD, Broadcom, Alphabet, Microsoft, Nvidia and TSMC have committed $26 billion to the private placement. The plan follows a sell-off that erased about $2.5 trillion from the Nasdaq Composite, while Anthropic reported nearly $17 billion in third-quarter revenue, up from $1.4 billion a year earlier.