Anthropic is targeting an initial public offering that could rival or exceed the record set by SpaceX (NASDAQ:SPCX), highlighting just how much investor enthusiasm has built around the artificial intelligence industry.
SpaceX targeted $75 billion for its IPO and ultimately raised about $86.2 billion once the overallotment option was exercised. Anthropic, which could publicly file its IPO paperwork as soon as the end of this month, is looking to match or exceed that record, Bloomberg reported, citing sources familiar with the matter.
Morgan Stanley, Goldman Sachs and JPMorgan are reportedly working on Anthropic’s IPO and other banks may be added to the roster. The company has also been holding discussions with investors in recent weeks as it gears up to go public. Details surrounding the IPO, including the size, are subject to change, Bloomberg noted.
Anthropic’s rapid expansion has been driven largely by growing demand from businesses using Claude for coding, research, automation and other enterprise applications. The company’s annualized revenue run rate reportedly surged to $65 billion by the end of July, putting it ahead of rival OpenAI, whose annualized revenue reached about $40 billion.
In May, Anthropic overtook OpenAI as the world’s most valuable startup after raising $65 billion in Series H, valuing the company at $965 billion. Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital led the funding round.
It has also previously been reported that CEO Dario Amodei could receive super-voting shares ahead of the AI company’s IPO, giving him and other co-founders greater control even as their ownership stakes remain relatively small.
Ahead of the public filing, Anthropic is set to finalize a revolving credit facility that will come in above its roughly $10 billion target, Bloomberg reported, expanding on the financing it pursued in July.
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