Anthropic has retracted details of its proposed initial public offering (IPO) after a document outlining a potential $69.3 billion share sale was circulated to banks. The artificial intelligence company said the pricing information was inaccurate and that an updated filing would follow.
According to emails reviewed by Reuters, Anthropic initially distributed a copy of a securities filing showing plans to sell approximately 866.7 million shares at a price range of $70 to $80 each. At the upper end of that range, the proposed offering would have raised approximately $69.3 billion.
However, a subsequent email from the company stated that the pricing details were inaccurate. Anthropic did not specify which information was incorrect, and Reuters said it was unable to establish what had prompted the retraction. The company also declined to comment on the matter.
Anthropic's Proposed Share Sale Included Existing Investors
The circulated document reportedly outlined a share sale involving both Anthropic and existing shareholders. Of the approximately 866.7 million Class A shares included in the document, Anthropic was expected to sell around 843.3 million, with existing shareholders accounting for a further 23.3 million shares.
The document also described a separate $26 billion private placement involving some of the world's largest technology companies.
Google, Nvidia, AMD, Broadcom, Micron, Microsoft and Taiwan Semiconductor Manufacturing Company (TSMC) were reportedly listed as participants in the placement. The proposed arrangement involved these companies purchasing Anthropic's Class N common stock at the IPO price, with the transaction expected to close immediately after the public offering.
The details formed part of the original circulated document and should not be treated as final confirmed investment commitments while the company prepares an updated filing.
Anthropic IPO Plans Move Forward Amid AI Market Uncertainty
The proposed listing comes as investors reassess the financial requirements and long-term commercial prospects of the artificial intelligence industry.
Anthropic, the developer of the Claude family of AI models, has become one of the major companies competing in the generative AI market. It has made big investments in computing infrastructure and partnerships with major technology providers as it has grown.
The reported private placement would have highlighted the increasingly interconnected financial relationships between AI developers, cloud infrastructure providers and semiconductor manufacturers.
Anthropic's IPO preparations are also taking place against a backdrop of uncertainty in the wider AI investment market. Other companies operating in the AI infrastructure and data centre sectors have faced delays or withdrawn planned listings amid market volatility, higher interest rates and concerns about the scale of spending required to support AI development.
Despite the retraction, Anthropic was expected to begin its IPO roadshow on 10 November, with pricing anticipated the following week. The company's updated filing is expected to provide further clarity on the proposed share sale and its financial terms.
The $69.3 billion figure that has been floated is at this point an unofficial indication of how big the offering could be, not the final goal of the IPO.
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