Insider reports indicate that demand for Anthropic's initial public offering is already multiple times oversubscribed, and the planned deal could become the largest IPO ever. The company behind the Claude chatbot and its founders could raise up to $90.4 billion through a public sale combined with a private placement, potentially surpassing the previous record set by SpaceX.
The strong interest is being driven mainly by large orders from institutional investors. Anthropic is also running an investor roadshow to build additional demand; for example, it is hosting a live-streamed discussion on Friday featuring Anthropic CEO Dario Amodei and Jamie Dimon, CEO of JPMorgan Chase.
For the offering the company is targeting a fully diluted valuation of about $1,400 billion (approximately $1.4 trillion). That figure is slightly below some earlier investor expectations; companies approaching public markets often set conservative initial price ranges early in the sale process, hoping that strong demand will push the final pricing higher and generate active trading on day one.
A prospectus filed on Tuesday underscores the market case for AI investments by highlighting Anthropic's rapid revenue growth. According to the most recent figures, annualized revenue reached $81 billion at the end of October — an increase of roughly $10 billion in a single month compared with September — while at the end of July the same metric stood at $65 billion.
Positive financials and recent corrections helped improve sentiment across the AI sector, a trend reinforced by upbeat guidance from CoreWeave. Market calm is reflected in the VIX index, which has fallen from above the mid-20s to below 20 points.
Some investors are already flipping parts of their allocated share packages to other buyers to earn extra fees and reduce the risks associated with the start of trading, and prior holders are selling stakes via special purpose vehicles (SPVs).
Goldman Sachs and Morgan Stanley are serving as lead underwriters, with about twenty other banks participating. The shares are expected to trade on the Nasdaq under the ticker ANT.
This article does not constitute investment advice or an investment recommendation. An AI assistant contributed to preparing this story; the final content was edited and verified by our journalist.
