Institutional investors placed enough orders on the first day of Anthropic’s IPO roadshow Tuesday to cover the entire 825 million share offering within its $70 to $78 price range, Bloomberg and CNBC reported. Institutional demand on an allocable basis is tracking ahead of SpaceX’s offering at the same stage, and about 20% of the shares are expected to go to retail investors, according to CNBC. Following the launch, Anthropic’s pre-IPO perpetual futures on Liquid traded higher at an implied valuation of about $1.7 trillion.
The offering seeks to raise up to $64.35 billion, with Anthropic selling 801.35 million Class A shares and existing stockholders offering 23.65 million ahead of a planned Nov 18 pricing and a Nov 19 debut on Nasdaq under the ticker ANT. Underwriters led by Goldman Sachs and Morgan Stanley have an option to buy an additional 123.75 million shares. Alongside the public offering, seven strategic investors will buy $26 billion of non-voting stock in a private placement at the IPO price, led by $10 billion each from Google and Nvidia, $2.5 billion from AMD, $1 billion each from Broadcom, Micron and Microsoft, and $500 million from TSMC, bringing combined gross proceeds to as much as $90.4 billion.
