Anthropic IPO draws orders for about six times shares available
For the chief procurement officer at a regional bank
Anthropic's initial public offering has drawn about six times the orders for the shares available, according to people familiar with the matter cited by Bloomberg in a report published by The Business Times on Nov. 13.1
The company and its co-founders are seeking to raise as much as US$64.4 billion in the IPO and US$26 billion in a private placement, its filings show.1 The sources, who asked not to be identified, said details including demand could change, and Anthropic did not immediately respond to a request for comment.1
Anthropic is targeting a fully diluted valuation of about US$1.4 trillion, below where some investors expected it to settle, Bloomberg News reported.1
Anthropic's filing on Tuesday showed a revenue run rate of US$81 billion as of Oct 31, up US$10 billion from the end of September; Bloomberg News reported a US$65 billion run rate at the end of July.1
Anthropic defines the metric as annualising consumption-based fees for a trailing 28-day period and subscription-based fees for a single month.1
Nvidia has agreed to buy about US$10 billion of shares in the private placement, the filings show, and Anthropic has committed tens of billions of dollars to deals securing access to Nvidia's most advanced chips.1
Banks and fintechs that buy Anthropic's services are part of the consumption and subscription fees behind the run rate that investors are pricing. The metric annualises a short window, so it can overstate yearly revenue if usage falls, which matters for anyone relying on Anthropic's financial strength in vendor risk reviews.
The stock is expected to trade on the Nasdaq Global Select Market under the symbol ANT, but the source did not give a pricing or listing date.1
Our take. Your Claude contracts were signed with a private lab. Soon the counterparty answers to shareholders who paid for a $1.4 trillion valuation and expect revenue to keep climbing. Redo the concentration assessment before the listing, not after.
Action. Third-party risk: Add Anthropic and its Nvidia chip dependency to concentration reviews, and check price-change notice terms in Claude contracts.
From our records
- Claude (Anthropic)vendor · banks using it (24) Goldman, JPMorgan, BankUnited · alternatives Microsoft Copilot, ChatGPT Enterprise, Gemini Enterprise
- NVIDIAvendor · banks using it (6) BNY, Amex, Capital One · alternatives SambaNova