Anthropic’s proposed initial public offering (IPO), which could have raised nearly $70 billion, was briefly outlined in a securities filing circulated to banks before the artificial intelligence company retracted the pricing details.An Anthropic representative sent bankers a copy of a filing showing plans to offer around 867 million shares at a price range of $70 to $80 apiece. The company subsequently sent another email saying the pricing information was inaccurate and that an updated filing would follow, reported Reuters.Anthropic did not specify which details were incorrect as there has been no public confirmation around this.The original email, cited by Reuters, indicated that the proposed offering would involve 866.7 million Class A shares, including around 843.3 million shares sold by Anthropic and 23.3 million shares offered by existing shareholders. At the top of the proposed price range, the IPO could have raised $69.3 billion.The original filing also showed that Anthropic had lined up a separate private placement worth $26 billion, involving some of the world’s biggest technology companies. Alphabet’s Google, Nvidia, Advanced Micro Devices, Broadcom, Micron Technology, Microsoft and Taiwan Semiconductor Manufacturing Company (TSMC) had agreed to participate by purchasing Anthropic’s Class N common stock at the IPO price. The private placement was to close immediately after the public offering.Anthropic is expected to formally launch its IPO roadshow on Tuesday, with pricing expected the following week.The proposed listing comes as Anthropic seeks to capitalise on growing demand for generative AI and its Claude family of models. Founded in 2021 by former OpenAI executives, including chief executive Dario Amodei and his sister Daniela Amodei, the company has emerged as one of the leading players in the AI industry.In its IPO disclosures, Anthropic said it planned to list on the Nasdaq under the ticker symbol ANT. However, the number of shares to be offered and the price range had not been finalised, based on public information.Anthropic reported revenue of $16.3 billion in the first half of 2026, alongside a net loss of $80.7 billion. A substantial portion of the reported loss was linked to changes in the fair value of convertible notes, derivative liabilities and other financing instruments, rather than being a direct measure of operating cash expenditure.The company expects significant spending to continue as it invests in computing infrastructure, research, AI safety and expansion. Its disclosures also warn that it may not achieve or sustain profitability.The filing outlined risks associated with the development of advanced AI systems, including the possibility that they could pose catastrophic or existential threats to humanity without adequate safeguards and oversight. It also highlighted risks arising from misuse, autonomous capabilities and the possibility that AI research could advance faster than the ability to evaluate and secure new models.Anthropic’s IPO comes amid growing scrutiny of the enormous capital requirements of the AI industry. Several companies in the AI infrastructure and data centre sectors have delayed or withdrawn planned listings, while concerns over interest rates and the sustainability of AI spending have weighed on companies such as CoreWeave.Investors had previously discussed a valuation of as much as $2 trillion for Anthropic, although expectations have since moderated, with $1.5 trillion viewed as the upper end of the range, Reuters had reported.The company’s growth has been supported by major technology partners, particularly Google and Amazon, which are also investors, computing infrastructure providers and distribution partners. Anthropic has nearly $900 billion in computing commitments with partners including the two companies, highlighting its dependence on substantial future infrastructure capacity.
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