Anthropic sets IPO price range of $70 to $78 per share

Anthropic has announced an IPO price range of $70 to $78 per share, aiming for an implied valuation of $1.404 trillion. The company plans to offer 825 million Class A shares, with potential proceeds between $57.75 billion and $64.35 billion. This valuation is lower than the previously targeted $2 trillion but higher than the $965 billion valuation from a May fundraise. Despite market uncertainties, Anthropic is moving forward with its IPO, scheduled to start trading on November 19. The company has also secured a deal to privately sell $26 billion of non-voting Class N stock to major tech firms, including Google and Nvidia, each investing $10 billion. If the IPO underwriters exercise their option to buy additional shares, net proceeds could reach between $84.6 billion and $93.7 billion.