On 10 November Anthropic, the company behind Claude, launched the Roadshow A series of presentations a company gives to big investors before its shares start trading, to drum up demand. for its stock market listing. It is offering 825 million shares at US$70 to US$78 each and has applied to list on Nasdaq under the symbol 'ANT'. At the top of the range it would be worth about US$1.4 trillion on a Fully diluted valuation A company's value counting every share that could exist, including options and convertible shares, not just shares already issued., TechCrunch and CNBC report.
Key points
- The share sale could raise US$57.75 billion to US$64.35 billion (about RM234 billion to RM261 billion). Separately, AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC agreed to buy US$26 billion of non-voting shares at the IPO An initial public offering: the first time a private company sells its shares to anyone on a stock market. price in a Private placement Selling shares directly to a few chosen investors instead of on the open market.; Google and Nvidia are putting in US$10 billion each.
- CNBC's sources say pricing is planned for 18 November and trading for 19 November, with about 20% of shares for retail investors. The Valuation How much investors think a whole company is worth. is below the US$2 trillion talked about earlier, but above the US$965 billion of Anthropic's May funding round.
- The updated filing says Run-rate revenue A company's recent revenue, often one month, multiplied out to a full year. It shows pace, not money already earned. reached US$81 billion by the end of October, about US$10 billion more than a month earlier; that is the company's own figure. The founders keep control through special shares that carry 50.1% of the votes.
- In the roadshow video, transcribed by developer Simon Willison, co-founder Tom Brown says Claude is trained and served on four chip families: AWS Trainium, Google TPUs, Nvidia GPU A powerful computer chip, originally for graphics, that is now the main hardware used to train and run AI. and AMD GPUs. Anthropic claims its Mythos model got Claude running on AMD chips in three days with almost no human help.
Why it matters: Nothing changes in Claude for users today. But this listing is a big test of how much investors still believe in AI, and the result could affect how easily AI companies raise money next year.
Sources (4)
- Anthropic launches roadshow for proposed initial public offering · Anthropic
- Anthropic sets IPO price range of $70 to $78 per share to reach an implied valuation of $1.404 trillion · TechCrunch
- Anthropic sets price range of $70 to $78 in upcoming IPO · CNBC
- Anthropic's IPO roadshow video · Simon Willison's Weblog
