Anthropic IPO Draws Orders for Six Times the Shares on Offer

Anthropic's planned IPO has drawn orders for about six times the shares available, while the company and its co-founders seek up to $90.4 billion in a combined deal that would exceed SpaceX's IPO.

The public offering is set to raise as much as $64.4 billion. A separate $26 billion private placement is planned alongside it, taking the maximum combined amount to $90.4 billion. The sixfold demand applies to shares available in the IPO; the private placement is a separate part of the transaction.

Bankers have told prospective buyers that Anthropic plans to give existing backers priority in allocations. Some other interested buyers may receive smaller allocations than they expected, even with demand well above the amount being offered. The number of shares requested may still change as the offering proceeds.

Anthropic develops Claude, an artificial intelligence model. The record-size comparison depends on counting the private placement alongside the public IPO; the IPO portion alone is capped at $64.4 billion.