Anthropic withdrew the terms of its initial public offering late Monday after sending banks a filing that showed a raise of nearly $70 billion, Reuters reported.
The filing listed about 867 million Class A shares for sale at $70 to $80 each, including a secondary offering. At the top of that range, the offering would raise $69.3 billion. A follow-up email told banks the pricing details were inaccurate and promised an updated filing. The email did not specify the errors. Anthropic declined to comment.
The filing also showed $26 billion in investments from major tech companies alongside the IPO. Alphabet (Nasdaq: GOOGL), Nvidia (Nasdaq: NVDA), Advanced Micro Devices (Nasdaq: AMD), Broadcom (Nasdaq: AVGO), Micron Technology (Nasdaq: MU), Microsoft (Nasdaq: MSFT) and Taiwan Semiconductor Manufacturing had agreed to buy Class N common stock in a private placement at the IPO price, closing right after the offering.
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Previously: A Leaked Anthropic Prospectus Shows Explosive Growth, A Widening Loss, and Its Own AI Risk Warnings
Anthropic’s outside counsel in Canada sent the document and later told banks some details were wrong, people familiar with the matter said.
AI stocks are still recovering from a sharp selloff after the Democrats’ sweeping midterm wins. The Nasdaq 100 dropped 6.3% on November 5, and Nvidia fell 9.2% in its worst day since April 2025. Investors fear a crackdown from Democrats in Congress and in state governments, and numerous winning Democrats, from governors to members of Congress, have promised to slow or stop AI data center projects.
Broader markets have shown little reaction to the Anthropic mix-up so far. An amended filing put Anthropic’s revenue for the July-through-September quarter at almost $17 billion, though growth has slowed sharply.
Anthropic plans to start its investor roadshow Tuesday and price shares the following week.
