On November 10, Anthropic filed its second amended registration statement (S-1/A) with the U.S. Securities and Exchange Commission (SEC), revealing an IPO price range for the first time: $70 to $78 per share. The company has applied to list on the Nasdaq Global Select Market under the ticker symbol “ANT.”
The offering comprises 825 million shares of Class A common stock, including 801 million shares issued by the company and approximately 23.65 million shares sold by existing shareholders. Underwriters also have an option to purchase an additional 124 million shares. At the high end of the range, $78 per share, the offering is valued at approximately $64.4 billion.
Seven tech companies simultaneously invest $26 billion in a private placement; TSMC subscribes for $500 million
The updated prospectus also disclosed that, after the IPO, Google, Nvidia, AMD, Broadcom, Micron, Microsoft, and TSMC Partners, an affiliate of TSMC, will subscribe for a total of $26 billion in Class N common stock at the IPO price. Google's subscription will fulfill part of its previously committed investment obligations.
Based on the midpoint of the range, or $74 per share, Google and Nvidia will each subscribe for approximately $10 billion, AMD for approximately $2.5 billion, Broadcom, Micron, and Microsoft for approximately $1 billion each, and TSMC for approximately $500 million. The private placement shares are not subject to underwriting fees or the underwriters' lock-up period, but they are restricted securities and may be resold only after registration or in compliance with an exemption.
Anthropic estimates that, based on the midpoint, net proceeds from the IPO and private placements will total approximately $84.6 billion, or approximately $93.7 billion if the over-allotment option is exercised in full. Some directors and related entities have also expressed nonbinding interest in subscribing for up to $303 million at the IPO price.
New investors get 6.3%; founders' LLC holds 50.1% of the voting power
According to the prospectus, the 825 million shares in the IPO will account for approximately 6.3% of the Class A and Class N shares outstanding after the offering, while existing shareholders will hold approximately 91%.
Voting power, however, is concentrated in the hands of the founders. Before the IPO, Anthropic will issue one share of Class F common stock to Founder LLC, established by the co-founders. Its members are CEO Dario Amodei, President Daniela Amodei, and five other co-founders. This single share carries a fixed 50.1% of the voting power of all outstanding shares and can determine the election of directors other than Class T directors, but it carries no economic rights.
Employees (excluding the co-founders) will receive Class E common stock, which carries voting rights on only a limited number of matters and no economic rights.
Revenue of $33.2 billion in the first three quarters; compute commitments exceed $900 billion
As for its financials, the prospectus shows that Anthropic generated $33.2 billion in revenue in the first three quarters of 2026, compared with just $2.5 billion in the same period the previous year. Price cuts in the third quarter reduced revenue by approximately $600 million (related report).
Including contracts signed as of and after September 30, Anthropic's purchase and lease commitments total approximately $900.9 billion, almost all of which are for compute and infrastructure. Approximately $70.7 billion is due in the next 12 months (related report).
This article is reprinted with permission from: (Chain News)
Original title: (Anthropic Prices Shares at $70–$78; TSMC and Nvidia Also Take Stakes)
Original author: Elponcrab
The article “Anthropic IPO priced at $70–$78! Nvidia subscribes for $10 billion, and TSMC also invests $500 million” was first published on “Crypto City”