Anthropic retracts IPO details worth nearly $70 billion — Cyprus Mail
Artificial intelligence systems developer Anthropic has retracted the terms of its initial public offering that had previously been circulated among banks. The documents referred to the sale of about 867 million shares at a price of $70 to $80 per share, which at the top end of the range could have raised $69.3 billion.
As Cyprus Mail reports, citing letters seen by Reuters, an Anthropic representative initially sent banks a copy of a document containing these terms. The company later said the pricing data were inaccurate and promised to update the document. The letter did not specify exactly which information contained an error. Anthropic declined to comment.
Retracted terms
The original document referred to the sale of 866.7 million Class A shares, including through a secondary offering. Anthropic itself was to sell about 843.3 million shares, while existing shareholders were to sell another 23.3 million. Reuters was unable to establish which specific data in the retracted terms were incorrect.
More current news is available on the UA.News Telegram channel Telegram.
The original filing also stated that Anthropic planned to raise $26 billion in private investment alongside the IPO. According to these data, Alphabet, Nvidia, Advanced Micro Devices, Broadcom, Micron Technology, Microsoft and TSMC agreed to participate in a private placement of Class N shares at the IPO price. It was planned to be completed immediately after the IPO.
Financial indicators
Anthropic was expected to officially begin presentations for potential investors on Tuesday, while the share price was forecast to be set next week. Investors had previously discussed a company valuation of up to $2 trillion, but later the upper limit of expectations was put at $1.5 trillion.
The company was founded in 2021 by former OpenAI executives and develops the Claude family of models. In its corrected filing, Anthropic reported nearly $17 billion in revenue for the three months ended September 30, while its quarterly growth rate slowed significantly. The company also had about $900 billion in commitments for computing capacity with partners, including Amazon and Google.
