Anthropic PBC's initial public offering has drawn multiple times the orders for the shares available, according to people familiar with the matter, as demand accelerates for potentially the biggest first-time share sale ever.
The demand was driven by so-called anchor-size indications of interest, the people said, asking not to be identified as the information isn't public.
The Claude chatbot maker and its co-founders are seeking to raise as much as $90.4 billion in the IPO and a private placement, its filings show. Taken together, the offerings would be bigger than SpaceX's IPO, making it the biggest listing of all time.
Details of the IPO could change, said the people. A representative for Anthropic didn't immediately respond to a request for comment. Anthropic is looking to bolster demand for the IPO with a campaign of events for prospective investors including a live-streamed event with its Chief Executive Officer Dario Amodei and JPMorgan Chase & Co. CEO Jamie Dimon on Friday, a person familiar with the matter has said.
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The company is targeting a fully diluted valuation of about $1.4 trillion, below where some investors expected the company to settle, Bloomberg News reported. Some companies set terms conservatively when they begin formally marketing their IPO, in the expectation that strong demand will push up the final figure and set them up for robust trading in their debuts.
Some investors are offering a portion of their Anthropic IPO allocation to other prospective backers, letting them collect additional fees and reduce their risk when trading begins, while others with pre-IPO stakes are marketing them to buyers via special purpose vehicles.
Goldman Sachs Group Inc. and Morgan Stanley are leading Anthropic's IPO, with participation from 20 other banks, the filing shows. The stock is expected to trade on the Nasdaq Global Select Market under the symbol ANT.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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