Anthropic IPO Six Times Oversubscribed at $1.4 Trillion Valuation Target
Anthropic's IPO is roughly six times oversubscribed, with the company and co-founders seeking up to $64.4 billion plus a $26 billion concurrent private placement, for up to $90.4 billion combined at a target fully diluted valuation of about $1.4 trillion. Nvidia plans to subscribe roughly $10 billion in the private placement, and underwriters say existing investors will be prioritized. Filings show a revenue run rate of $81 billion as of October 31, up $10 billion from late September.
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IT之家 November 13 news, according to a Bloomberg report today, demand for Anthropic's planned initial public offering (IPO) continues to grow, with investors having submitted subscription orders for approximately 6 times the number of shares available.
According to the filing submitted by Anthropic, the company and its co-founders plan to raise up to $64.4 billion through the IPO (approximately 430.519 billion yuan at current exchange rates), while also raising $26 billion through a concurrent private placement, bringing the total of the two financings to as much as $90.4 billion.
Anthropic's current target fully diluted valuation is approximately $1.4 trillion (IT之家 note: approximately 9.36 trillion yuan at current exchange rates). This valuation is lower than what some investors had previously expected.
As subscription demand exceeds the number of shares available, some potential investors may not receive the allocation they expected. People familiar with the matter said that underwriting banks have informed some investors that Anthropic will prioritize existing investors, and some new investors may ultimately receive fewer shares than expected.
According to the filing, Nvidia plans to subscribe to approximately $10 billion (approximately 66.851 billion yuan at current exchange rates) of Anthropic stock in the $26 billion private placement. The company is also an important strategic partner of Anthropic.
In addition, Anthropic is raising IPO awareness through events for potential investors. The company's CEO Dario Amodei and JPMorgan CEO Jamie Dimon plan to participate in a livestreamed event on November 13.
Anthropic disclosed in a filing on November 10 that, as of October 31, the company's revenue run rate had reached $81 billion, an increase of $10 billion from the end of September. However, this metric, calculated according to the company's disclosed methodology by annualizing recent consumer service fees and subscription revenue, is not equivalent to full-year revenue already realized.