Summary:
- Bloomberg Says Anthropic IPO "Multiple Times" Oversubscribed
- Managing partner in Peter Thiel's family office Warns Anthropic IPO underperformance Could Pop AI
- Anthropic Bankers Push For Higher IPO Valuation
Anthropic IPO Oversubscribed But What Happens Next?
Anthropic's IPO roadshow is underway, and reports that the lead bankers on the deal want to boost its valuation before trading starts next Thursday hit the headlines earlier today.
Adding to those developments, Bloomberg cites sources saying Anthropic's IPO has "drawn multiple times the orders for the shares available," signaling strong demand.
The Claude chatbot maker revealed in a Tuesday S-1 filing that it's seeking to raise as much as $90.4 billion through the IPO and a private placement. But bankers on the deal say the offering of 825 million shares, currently marketed at $70 to $78 each under the ticker ANT, could price above that range, pushing its fully diluted valuation beyond the roughly $1.4 trillion currently targeted.
In fact, bankers are pushing for total fundraising well above $100 billion, likely reflecting strong demand. But a review of past IPOs, follow-on offerings and debt deals shows that oversubscription doesn't necessarily translate into higher prices down the road.
For instance, Klarna and StubHub had heavily oversubscribed IPOs, yet both traded below their offering prices.
More recently, Cerebras, SpaceX and Jersey Mike's IPOs were roughly 20 times, four times and 10 times subscribed, respectively. Follow-on offerings from Alphabet, Intel, Meta and Strive also attracted strong demand, yet most of these stocks now trade bel
