Seven Suppliers to Buy $26 Billion of Anthropic Stock After Its IPO
Anthropic's updated IPO prospectus says seven suppliers including Nvidia and Google will buy $26 billion of its stock in a private placement after the offering.
Anthropic launched the roadshow for its initial public offering on Tuesday, seeking to raise as much as $64.4 billion at the top of its expected price range, according to Yahoo Finance citing the company's amended prospectus filed with the Securities and Exchange Commission.
The company plans to offer 825 million shares at $70 to $78 apiece. Google, Nvidia, Advanced Micro Devices, Broadcom, Micron Technology, Microsoft and TSMC Partners have agreed to buy $26 billion of Anthropic stock through a private placement alongside the IPO, bringing the combined total to about $90.4 billion. The filing did not say how much each company will buy.
The offering is contingent on the IPO being completed and other conditions being satisfied. Anthropic reported third-quarter revenue of about $17 billion and an operating loss of $567 million.
The company disclosed about $895 billion in purchase and lease obligations, largely tied to computing capacity and data centers. The prospectus does not state a valuation, but based on roughly 16.9 billion fully diluted shares, the proposed price range would value Anthropic at about $1.2 trillion to $1.3 trillion, below the $1.5 trillion to $2 trillion range discussed in recent weeks.
The private placement has drawn attention to potential circular financing, since the investors are also Anthropic's chip suppliers and cloud providers.
In delayed trading, Nvidia shares were down 6.69%, Alphabet down 0.43%, Micron down 4.31%, AMD down 0.05%, Broadcom up 1.41% and Microsoft down 0.44%.
Sources said the company plans to start trading Thursday or Friday next week.