Anthropic has withdrawn preliminary pricing details of its planned initial public offering (IPO) after a filing circulated to investment banks suggested the artificial intelligence company could raise as much as $69.3 billion from its stock market debut.
The withdrawn document indicated that the company planned to offer approximately 866.7 million shares at between $70 and $80 each. However, Anthropic subsequently informed bankers that the pricing information was inaccurate and that an updated filing would be provided.
The proposed offering included approximately 843.3 million newly issued shares from Anthropic and 23.3 million shares held by existing investors. At the upper end of the proposed price range, the transaction could have generated about $69.3 billion.
The preliminary filing also outlined a separate $26 billion private investment involving major technology companies, including Google, Nvidia, Microsoft, AMD, Broadcom, Micron and Taiwan Semiconductor Manufacturing Company.
The withdrawal leaves uncertainty over the final share price, offering size and fundraising target ahead of the company’s anticipated investor roadshow.
The development comes as investors reassess valuations across the artificial intelligence industry amid concerns about enormous infrastructure spending, rising computing costs and the ability of AI companies to generate sustainable profits.
Anthropic, the developer of the Claude artificial intelligence models, is preparing for what could become one of the largest technology stock market listings.
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