Updated S-1: Anthropic's seven co-founders will sell $1.75B of stock in next week's IPO, each offering shares worth ~$250M at the midpoint of its IPO range (Dylan Sloan/Bloomberg)

Anthropic PBC has released an updated prospectus for its upcoming initial public offering on the Nasdaq stock exchange. The company plans to offer 825 million shares with a price band of $70 to $78 per share, which could value the firm between $1.1 trillion and $1.41 trillion. This target is lower than the $2 trillion valuation previously reported.

According to Techmeme, the company's seven co-founders will sell a combined $1.75 billion of stock during the offering, with each offering approximately $250 million in shares at the midpoint of the IPO range.

The company aims to raise up to $64.4 billion through the IPO and expects to raise an additional $26 billion via a private placement of Class N common stock. YourStory reports that the company has raised a total of $130 billion in funding and was last valued at $965 billion. The private placement involves several technology companies, including Alphabet, Nvidia, Microsoft, AMD, Broadcom, Micron Technology, and TSMC Partners, according to Fast Company and YourStory.

While Anthropic's revenue grew to $16.2 billion for the six months ending in June according to KahawaTungu, the company reported significant losses. YourStory stated that Anthropic reported revenue of $1.16 billion and losses of $12.96 billion in the first half of 2025, while KahawaTungu reported a pre-tax loss of $80.7 billion for the same period. Trading is expected to begin as soon as next week, with YourStory noting that shares could be priced on November 18 and begin trading on November 19.

Brief written by urgent.news from Techmeme, Guardian Technology, KahawaTungu, YourStory, Fast Company — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.