Anthropic said it has launched the roadshow for its proposed initial public offering of 825,000,000 Class A shares, priced at an expected $70.00 to $78.00 each. Anthropic is selling 801,351,354 of the shares and existing stockholders are selling 23,648,646, with no proceeds from those going to the company. It expects to give underwriters a 30-day option on up to 123,750,000 more shares, and has applied to list on the Nasdaq Global Select Market under the symbol ANT. Goldman Sachs and Morgan Stanley are named for prospectus requests, and the registration statement filed with the SEC is not yet effective.
The Verge's headline says Anthropic targets a $1.4 trillion IPO. The outlet wrote that the offering could be one of the biggest ever while falling short of earlier expectations: Reuters had reported it was previously expected to be valued at as much as $2 trillion. The Verge noted that rival OpenAI was valued at $1.25 trillion as of last week.
According to Wall Street Journal sources cited by The Verge, Anthropic is aiming for its shares to start trading Thursday or Friday next week.