According to people familiar with the matter, the IPO of Anthropic, the developer of Claude, has attracted orders for about six times the shares available for subscription, as investor enthusiasm keeps rising for what could be the largest stock offering ever. The prospectus shows that the company and its co-founders plan to raise up to $64.4 billion through the IPO, plus a further $26 billion private placement, a two-pronged effort to stock up ammunition for its public-market debut. Amid debate over whether the AI investment boom is cooling, real-money subscriptions have cast the bluntest vote.
Add the two together, and it leapfrogs SpaceX to take the top spot Combining the IPO and private placement, the size could reach up to $90.4 billion, surpassing SpaceX's listing deal in one fell swoop and claiming the title of the largest listing in history. This sky-high offering is also seen as a milestone for AI companies entering the capital markets. However, the people cautioned that offering details, including demand, could still change; the information is not yet public, the sources requested anonymity, and Anthropic has not yet commented.
Existing backers get first dibs, new buyers may get squeezed The allocation is already skewed: bankers told potential investors that Anthropic will prioritize existing backers, and some new buyers may end up with fewer shares than expected. With the deal six times oversubscribed, it will not be easy for latecomers to get a slice; old friends have already taken most of the seats at the capital feast, leaving new faces to pick up leftovers.
