Anthropic IPO targets $1.4 trillion valuation

Anthropic has filed an updated IPO prospectus offering 825 million Class A shares at $70 to $78 each, targeting a fully diluted valuation of up to $1.404 trillion. The offering could raise between $84.6 billion and $93.7 billion including a private placement of $26 billion in non-voting stock to AMD, Broadcom, Google, Micron, Microsoft, Nvidia, and TSMC. Trading on Nasdaq under ticker ANT is expected around November 19. The company reported nine-month revenue of $33.2 billion and a net loss of $104 billion, with run-rate revenue hitting $81 billion by end of October.