Anthropic plans insider sales in record IPO

Investing.com - Anthropic is targeting a valuation of $1.5 trillion to $2 trillion in what is expected to be the largest IPO on record, raising more than $86 billion, a figure cited by The Information.

The Claude developer is designing an unusual share-sale structure that lets existing shareholders sell some stock directly in its IPO, The Information reported. This structured secondary tranche allows early investors to realize gains while helping the company steer its IPO allocation toward preferred long-term investors.

To offset potential concerns about insider selling, Anthropic is simultaneously considering a lockup period longer than the standard 180 days for at least some shareholders to pre-empt supply-overhang risks in the open market, according to The Information’s sources.

The unprecedented capital raise is driven by the scale of Anthropic’s compute ambitions. The company, which projects 2028 revenue of roughly $190 billion to $200 billion, recently signed a $45 billion, six-year deal to rent AI computing power from Nscale’s West Virginia data center campus.

Anthropic plans to publicly unveil its IPO prospectus after Labor Day and host an investor day in mid-September. The IPO itself is targeted for late September or early October, The Information reported.

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