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AI company Anthropic prices its IPO at $70 to $78 a share, worth up to $1.4 trillion

Anthropic's updated IPO filing offers 825 million Class A shares at $70 to $78 each, raising $57.75 billion to $64.35 billion. At the top of the range the company would be worth $1.404 trillion. That is up from $965 billion in May, but below the $2 trillion it was reportedly aiming for. It will also privately sell $26 billion of non-voting shares to AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC. Google and Nvidia are putting in $10 billion each. Crunchbase News says the total could reach $88.5 billion, possibly the largest fundraise ever tied to a stock market debut. CNBC reports that trading on the Nasdaq under the ticker ANT should start around November 19. The filing shows third-quarter revenue of $17 billion, a nine-month net loss of $104 billion and run-rate revenue of $81 billion by the end of October. Each of the seven co-founders plans to sell about $250 million of shares, and the founders keep majority voting control.

Why it matters: This would be one of the biggest stock listings ever, and a test of whether investors still want AI shares after recent sell-offs. Buyers of the public shares will have little say over how the company is run.
In filingTechCrunch