Anthropic Discloses $70 to $78 IPO Price Range Targeting Up to $1.4 Trillion Valuation

Artificial intelligence research firm Anthropic, the developer of the Claude model family, has established its initial public offering price band between $70 and $78 per share for an intended listing on the Nasdaq stock exchange. The public offering of 825 million shares could generate up to $64.35 billion in gross capital, establishing a fully diluted equity valuation of up to $1.405 trillion. The company plans to allocate approximately 20% of the offering to retail participants, substantially above traditional allocation thresholds.

Alongside the public float, Anthropic arranged a $26 billion private placement agreement covering Class N common shares with key technology partners, including Microsoft, Alphabet's Google, Nvidia, Advanced Micro Devices, Broadcom, Micron, and Taiwan Semiconductor Manufacturing Company. Financial disclosures indicate that while Anthropic's top-line revenue expanded to $16.2 billion for the first half of the year, extensive computing infrastructure expenses contributed to a pre-tax deficit of $80.7 billion over the same period, highlighting the significant capital intensity across generative model developers.