Anthropic has begun marketing its Nasdaq IPO at $70 to $78 per share, valuing the company at up to $1.4 trillion on a fully diluted basis. The company is selling 825 million shares and could raise as much as $64.4 billion, while seven strategic partners, including Google and Nvidia, have agreed to buy $26 billion of non-voting stock. Its annualized revenue run rate reached about $81 billion at the end of October, up from roughly $71 billion in late September. The offering comes after the Nasdaq fell 5.5% and erased nearly $2.5 trillion in market value in one session amid regulatory concerns and uncertainty surrounding Nvidia. Anthropic also warned that its models may soon meet the threshold in its Responsible Scaling Policy for dramatically accelerated AI progress, although no current model has reached it.
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