Anthropic IPO Draws About Sixfold Demand for Available Shares

Orders for Anthropic PBC’s planned initial public offering total about six times the shares available, signaling strong investor interest in a potential listing that could rank among the largest ever. That ratio means investors have sought roughly six shares for every share currently available for purchase.

Anthropic PBC and its co-founders plan to raise as much as $64.4 billion through the IPO. They also plan to raise $26 billion through a separate private placement. Together, the two fundraising plans would surpass SpaceX’s IPO, creating what would be the largest listing transaction on record.

Bankers have told potential investors Anthropic will prioritize existing backers in the allocation process. Some buyers have been told they may receive fewer shares than they expected, even as demand stands well above the shares available. The offering’s details and demand may shift as the IPO develops.