Anthropic sets a price range for its blockbuster IPO

Anthropic has set a price range for its upcoming initial public offering. According to a regulatory filing on Tuesday, Business Insider reports the AI startup intends to price shares between $70 and $78, which would raise between $57 billion and $64 billion.

The Times of India reports that a securities filing briefly outlined to banks suggested a different range of $70 to $80 per share for approximately 867 million shares. That filing indicated the offering could have raised as much as $69.3 billion. However, Anthropic subsequently retracted those details, notifying bankers that the information was inaccurate and that an updated filing would follow.

The original filing cited by the Times of India noted the offering would consist of 866.7 million Class A shares, with 843.3 million sold by Anthropic and 23.3 million offered by existing shareholders. The document also indicated a separate $26 billion private placement involving companies including Alphabet's Google, Nvidia, Advanced Micro Devices, Broadcom, Micron Technology, Microsoft, and Taiwan Semiconductor Manufacturing Company.

Brief written by urgent.news from Business Insider, Times of India — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.