Anthropic will set aside up to 20% of its initial public offering—as many as 165 million shares worth up to $12.9 billion at the top of its $70 to $78 price range—for individual investors, compared with a typical IPO retail allocation of 5% to 10%. US retail buyers can participate through Charles Schwab, Fidelity, Robinhood, SoFi and E*Trade, with JPMorgan leading the domestic retail effort, while Citigroup is handling retail orders in markets including Japan, Britain and Canada alongside a separate European retail offering.
The retail tranche is part of an 825 million share offering that launched its investor roadshow Tuesday seeking to raise up to $64.35 billion ahead of a planned Nov 18 pricing and Nov 19 debut on Nasdaq under the ticker ANT. Anthropic is offering 801.35 million Class A shares and existing holders are selling 23.65 million, including $1.75 billion of stock across its seven co-founders, or about $250 million each at the midpoint. Institutional orders already cover the full offering within the marketed range, and seven strategic investors—Google and Nvidia at $10 billion each, AMD at $2.5 billion, Broadcom, Micron and Microsoft at $1 billion each, and TSMC at $500 million—will buy another $26 billion of non-voting stock in a private placement at the IPO price.