32 mins ago - Business

Anthropic seeks to be valued at $1.02 trillion

Dan Primack

Illustration: Aïda Amer/Axios. Stock: Getty Images

Anthropic said on Tuesday that it will seek to raise up to $62.5 billion in its IPO at a market cap that could reach $1.02 trillion.

Why it matters: This would be one of the largest IPOs ever, but smaller than some had expected.

By the numbers: Anthropic will seek to sell 801 million shares at between $70 and $78 a share.

Zoom in: The top headline valuation is market value (i.e., value of outstanding shares) versus the fully diluted value (i.e., value of all shares that could become outstanding).

On the latter, the high end for Anthropic would be around $1.37 trillion. There had been early speculation that it could seek a $2 trillion fully diluted valuation.

Look ahead: Anthropic shares are likely to begin trading sometime next week, amidst wild volatility in the AI trade.

Go deeper: Anthropic's spending commitments surge to nearly $900 billion

This story has been updated with additional details.

Add Axios on Google

Anthropic seeks to be valued at $1.02 trillion

What to read next