Anthropic sets IPO price range of $70 to $78 per share to reach an implied valuation of $1.404 trillion

Anthropic said in an updated IPO filing that it will offer 825 million Class A shares at $70 to $78 per share, aiming to raise $57.75 billion to $64.35 billion and reach an implied valuation of $1.404 trillion at the top of the range on a fully diluted basis. The company also agreed to privately sell $26 billion of non-voting Class N stock at the IPO price to AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC, with Google and Nvidia investing $10 billion each, and expects to begin trading on the Nasdaq around November 19 under the ticker "ANT". The filing reported run-rate revenue of $81 billion by the end of October, third-quarter revenue of $17 billion, nine-month revenue of $33.2 billion and a nine-month net loss of $104 billion.