Anthropic targets valuation of up to $1.4tn in IPO - FT中文网
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IPO

Anthropic targets valuation of up to $1.4tn in IPO

The Claude maker says it and some of its investors plan to sell shares for as much as $78 each
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{"text":[[{"start":7.92,"text":"Anthropic is targeting a valuation of up to $1.4tn in its initial public offering, as the AI company and its backers plan to raise as much as $64bn in one of the biggest Wall Street debuts of all time."}],[{"start":21.44,"text":"The Claude maker said it and some of its existing investors planned to sell 825mn shares at a price range of $70-$78, according to an updated filing with regulators as it begins its roadshow on Tuesday."}],[{"start":35.08,"text":"The target valuation marks a jump from $965bn in its last private financing in May but falls short of the record set by SpaceX’s IPO this summer and some investors’ earlier expectations that it could be worth closer to $2tn."}],[{"start":50.24,"text":"The group’s landmark listing comes as Wall Street grapples with the repercussions of the US midterm elections on the AI boom, with the Democrats vowing to slow the expansion of data centres."}],[{"start":61.8,"text":"Anthropic also said that it planned to raise a total of $26bn in a private placement, at the same pricing as the IPO, from chip suppliers including Nvidia, AMD, Micron, Broadcom and Taiwan Semiconductor Manufacturing Company, as well as cloud computing providers Google and Microsoft."}],[{"start":80,"text":"If the IPO goes well, Anthropic could raise a further $9.7bn through the underwriters’ over-allotment option or “greenshoe”. That, combined with the private placement, would push the total raised by Anthropic and its investors to around $100bn, if the shares were sold at the top end of its current range."}],[{"start":99.84,"text":"Tuesday’s filing implies a valuation range of between $1.26-1.41tn, calculated on a fully diluted basis that also accounts for employee stock options and other restricted shares."}],[{"start":null,"text":""}],[{"start":112.84,"text":"Anthropic will set pricing after meeting with investors this week, putting it on track to complete the listing as soon as next week."}],[{"start":119.4,"text":"All seven of Anthropic’s co-founders are selling the same number of shares, worth $250mn each at the midpoint of the current price range, as part of the offering. After the IPO, each co-founder would then hold shares worth around $18bn, depending on the final pricing."}],[{"start":135.3,"text":"The filing also revealed that Anthropic’s annualised revenue run rate, a sales projection that has been closely watched by investors, hit $81bn in October, up $10bn from the previous month."}],[{"start":148.88,"text":"Investor concerns over whether the increasingly debt-fuelled spending boom will pay off have also triggered a tech sell-off in recent weeks."}],[{"start":156.34,"text":"But Anthropic’s existing investors are hopeful that its IPO will be propelled by so-called forced buyers, including index funds and large asset managers, which do not currently own any of the stock but will, in effect, be obliged to do so shortly after the company is public."}],[{"start":173.06,"text":"The largest-ever listing was Elon Musk’s SpaceX, which went public at a $1.78tn valuation in June, raising $86bn."}],[{"start":188.29,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1794353349_9887.mp3"}

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