Key takeaways

  • Anthropic's latest draft prospectus indicates that the company and some of its existing investors plan to sell 825 million shares at a range of $70 to $78 per share.
  • Based on about 16.9 billion fully diluted shares implied by Anthropic's amended filing, the range works out to roughly $1.19 trillion to $1.32 trillion.
  • Anthropic also swung back to a $567 million operating loss in the third quarter, after reporting its first operating profit in the second quarter.

Anthropic plans to sell 825 million shares at $70 to $78 each, raising as much as $64.4 billion. The range implies a valuation of roughly $1.2 trillion to $1.4 trillion, well below the $2 trillion figure floated earlier this fall.

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