Anthropic IPO Filing Showing Up to $69.3 Billion Raise Sent to Banks, Then Pulled
Key Takeaways
- •Anthropic retracted an IPO filing sent to banks within hours after stating that the $70-$80 share price range it contained was incorrect, and an updated filing with corrected figures is expected to follow.
- •The withdrawn filing planned the sale of about 866.7 million Class A shares, which at the top of the price range would have generated up to $69.3 billion in proceeds and ranked among the largest stock market debuts in history.
- •Seven technology and chip companies, including Google, Nvidia, Microsoft and TSMC, committed $26 billion to purchase Class N stock in a private placement scheduled to close immediately after the offering.
- •Valuation expectations have slipped from earlier discussions of as much as $2 trillion to around $1.5 trillion, with some major investors pushing for a lower figure after a steep selloff in AI stocks.
- •Anthropic, founded in 2021 by former OpenAI executives and the maker of the Claude models, reported nearly $17 billion in quarterly revenue through September 30 while disclosing that its quarterly growth rate has fallen sharply.
Details of Anthropic's planned stock market debut reached banks late on Monday — and were pulled back within hours. A company representative emailed bankers a securities filing showing a share price range of $70 to $80, then sent a follow-up message stating that the pricing details contained in it were wrong. The exchange was first reported by Reuters, which reviewed the emails.
Anthropic informs bankers that incorrect figures were included in its IPO filing and says updated numbers will follow, Rtrs says. — First Squawk (@FirstSquawk) November 10, 2026
According to the initial filing, Anthropic aimed to sell roughly 867 million shares at $70 to $80 each. At the top of that range, the offering would generate up to $69.3 billion in proceeds, including shares sold by existing holders alongside the company's own. Had those figures held, the raise would have ranked among the largest stock market debuts ever completed. The company said an updated filing with corrected numbers would follow.
What the Retracted Filing Showed
The follow-up email did not specify which figures were incorrect, and Reuters was unable to determine the nature of the error. Anthropic declined to comment on the matter.
The filing listed 866.7 million Class A shares for sale in total. Anthropic itself would sell approximately 843.3 million of them, while existing shareholders would sell the remaining 23.3 million in a secondary offering.
The document also disclosed $26 billion in investments lined up alongside the IPO. Seven technology and chip companies — Alphabet's Google, Nvidia, Advanced Micro Devices, Broadcom, Micron Technology, Microsoft and TSMC — agreed to take part. They would purchase Class N common stock at the IPO price in a private placement scheduled to close immediately after the offering. Concurrent placements of this kind are a routine mechanism in large listings, tying part of the deal to institutional demand committed before trading begins.
Anthropic plans to list its Class A shares on the Nasdaq Global Select Market under the ticker symbol ANT. Per the filing, the company is expected to launch its roadshow on Tuesday, with pricing anticipated the following week.
Valuation Talk and Market Backdrop
As recently as a week ago, investors expected Anthropic to target a valuation near $1.5 trillion. After a steep selloff in AI companies on Thursday, however, some major investors are now pushing for a lower figure. Discussions had earlier centered on a value as high as $2 trillion, though Reuters reported that expectations had since come down.
Anthropic is expected to lay out its target valuation range in a filing early this week, which will show how much the company hopes to be worth.
The episode comes amid broader turbulence for AI listings. Other AI infrastructure and data center companies have delayed or pulled planned offerings, and rising interest rates have helped drive a selloff in the shares and bonds of AI operators such as CoreWeave. Questions about the sustainability of AI spending have also grown.
Founders, Backers and Compute Commitments
Anthropic was founded in 2021 by former OpenAI executives, including Dario Amodei and his sister Daniela Amodei, who now serves as the company's president. The firm builds the Claude family of AI models.
Google and Amazon have helped fuel its growth, serving as investors, suppliers of computing power and distribution partners — while simultaneously competing with Anthropic in AI. The company carries nearly $900 billion in computing commitments with partners including Amazon and Google, though some of that capacity depends on financing outside the company's control.
An amended filing earlier this month showed revenue of almost $17 billion for the three months ended September 30, and the company disclosed that its quarterly growth rate has fallen sharply.
Retail Access to the Offering
For retail investors, shares will be sold through participating brokers and selling agents. Anthropic has arranged proposed retail offerings in parts of the European Economic Area, the UK, Switzerland, Canada, Australia and Japan. Once listed, shares can be purchased on Nasdaq through a regular brokerage account.
Based on reporting by Reuters; source: CoinCentral.
