Report: Anthropic Plans to List Before Thanksgiving, Seeking to Raise Up to $100 Billion
The Financial Times, citing multiple Anthropic investors, reported that Anthropic plans to push ahead with a listing before Thanksgiving on November 26, seeking to raise up to $100 billion, with a valuation range below the $2 trillion some investors had previously hoped for but above the $965 billion of its most recent funding round. JPMorgan plans to hold an information session for potential investors on November 13; the final IPO valuation, the size of the fundraising and the listing date remain undetermined. Financial data shows that Anthropic's third-quarter revenue was about $17 billion, up nearly 50% quarter over quarter, a slower pace of growth; it previously disclosed annualized revenue of about $81 billion.
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The report lays out the time window, valuation range and revenue growth rate for Anthropic's planned listing, which can be compared with OpenAI's lowered financing valuation to gauge the current AI financing environment.
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The Financial Times, citing multiple Anthropic investors, reported that the above valuation range is lower than the $2 trillion previously hoped for by some of the most optimistic investors, but higher than the company's $965 billion valuation in its most recent funding round. This year's Thanksgiving in the United States falls on November 26.
Anthropic is the developer of the AI assistant Claude. The report noted that JPMorgan Chase plans to hold an information session for potential investors on November 13. The final valuation, fundraising size and listing timetable for the IPO remain to be determined.
As Anthropic moves toward a listing, investors are reassessing tech companies' massive AI spending and its returns. The Nasdaq 100 fell more than 6% on Thursday and, although it rebounded somewhat on Friday, still fell 4.9% for the week.
Financial data shows that Anthropic's third-quarter revenue was about $17 billion, up nearly 50% quarter-on-quarter, but the growth rate has slowed. The company previously reported annualized revenue of about $81 billion. Annualized revenue is an annualized level extrapolated from recent revenue and is not equivalent to full-year revenue already realized.
OpenAI, which is competing with Anthropic in the AI market, is also facing adjustments to its fundraising valuation. According to reports, OpenAI's latest funding round values it at $1.25 trillion, lower than the $1.4 trillion it had previously sought.