Anthropic’s underwriters, led by Goldman Sachs and Morgan Stanley, are preparing to raise its IPO price above the $70 to $78 a share range after heavy investor demand, the Financial Times reported. Pricing above that band would lift the Claude developer’s fully diluted valuation to $1.5 trillion or more and push total proceeds past $100 billion when including a $26 billion private placement and the underwriters’ option to purchase an additional 123.75 million shares.
The potential price increase comes less than a day after Anthropic launched its roadshow seeking up to $64.35 billion across 825 million Class A shares, a range that implied a fully diluted valuation of $1.26 trillion to $1.41 trillion and was already covered by institutional orders on the first day. Three backers told the Financial Times the company is prioritizing raising cash over maximizing valuation as it faces $900.9 billion in compute and infrastructure commitments.
Alongside the public offering, which reserves up to 20% of the shares for retail investors, seven strategic partners—Google, Nvidia, AMD, Broadcom, Micron, Microsoft and TSMC—agreed to buy $26 billion of non-voting stock at the IPO price. Anthropic’s shares are scheduled to price Nov 18 and begin trading Nov 19 on Nasdaq under the ticker ANT.
