Odaily: AI company Anthropic has set its IPO price range at $70 to $78 per share, planning to issue 825 million shares, with approximately 20% of the offering reserved for retail investors. The order book is reportedly only fully subscribed, not oversubscribed.
Anthropic will also privately place $26 billion of non-voting Class N shares to seven compute suppliers at the IPO price, with Google and Nvidia each subscribing approximately $10 billion, AMD subscribing $2.5 billion, Broadcom, Micron, and Microsoft each subscribing approximately $1 billion, and TSMC subscribing $500 million; these shares have no lock-up period.
The IPO and private placement are expected to raise a combined total of approximately $84.6 billion for Anthropic, with the proceeds primarily intended for compute. Anthropic disclosed that over the past nine months it generated $33.2 billion in revenue, a $1.26 billion operating loss, and a $104 billion net loss, the latter almost entirely from non-cash charges related to convertible notes.
Anthropic's committed expenditures stand at $900.9 billion, of which $70.7 billion will come due within the next 12 months. ANT trading on Hyperliquid corresponds to a valuation of approximately $1.8 trillion, with daily trading volume of about $100 million and open interest of about $200 million. (Decrypt)
