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Anthropic's bankers plan to raise IPO price to $1.5T or more

AIAnthropic's bankers plan to raise the IPO price after heavy investor demand, lifting the target valuation to $1.5T or more, according to the Financial Times. The filing set a $70-$78 share range, implying $1.26T to $1.41T, and pricing above that range would push proceeds past $100B. Three backers say Anthropic now prioritizes raising cash over maximizing valuation because it plans about $900B of compute and infrastructure spending.

AIWhy it matters.

The post places the planned IPO price increase against the filing's share range, proceeds, and the company's compute spending, which helps readers judge the deal's scale.

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FT: Anthropic’s bankers plan to raise its IPO price after heavy investor demand, lifting the target valuation back to $1.5T or more.

Tuesday’s filing set a $70-$78 share range, implying $1.26T to $1.41T once employee options and restricted shares are counted.

Pricing above that range would push proceeds past $100B, including $26B that Google, Nvidia and Microsoft will invest at the IPO price.

Three backers say Anthropic now cares more about raising cash than maximizing valuation, because it plans about $900B of compute and infrastructure spending.

Rohan Paul@rohanpaul_ai
Anthropic forges ahead with IPO roadshow They will sell up to 825M shares at $70 to $78 each, a range that values it at as much as $1.4T. At the top of that range the deal raises about $64.4B, and Anthropic itself takes roughly $62.5B from 801M new shares. Existing stockholders are selling only 23.6M shares, so almost all the cash funds the company instead of letting early investors exit. Earlier talk had pointed to as much as $2T, and the cut follows a tech selloff and midterm results showing voters souring on AI data centers. Even reduced, the price sits above the $1.25T private valuation OpenAI reached last week. Shares are expected to start trading on Nasdaq under the ticker “ANT” as soon as Thursday or Friday next week.
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Original title: FT: Anthropic’s bankers plan to raise its IPO price after heavy investor demand, lifting the target valuation back to $1.5T or more.