Anthropic withdraws IPO filing right after release! $69.3 billion fundraising details unexpectedly leaked, Nvidia, Microsoft, TSMC and others collectively bet $26 billion

Anthropic encountered an information disclosure error during its IPO process. According to Reuters, the artificial intelligence company sent a document containing IPO pricing details to its underwriter banks, then followed up with a correction email stating that the disclosed pricing information was incorrect and that an updated document would be provided later.

On November 9, emails seen by Reuters show that the initial document from Anthropic revealed the company planned to issue approximately 867 million shares at a price range of $70 to $80 per share. If priced as such, this IPO would be significant in scale. At the same time, Anthropic stated that Nvidia, AMD, Broadcom, Micron, Microsoft, and TSMC—seven tech giants in total—will collectively invest $26 billion in private placements at the IPO pricing.

However, in a second email sent shortly after, Anthropic clearly stated that there were errors in the pricing details and that an updated prospectus would be provided at a later time.

Pricing details briefly revealed, then withdrawn

According to emails obtained by Reuters, Anthropic initially sent a copy of its prospectus to banking contacts, disclosing core information such as the number of shares to be issued and the pricing range.

Reports indicate that Anthropic intends to raise up to $69.3 billion in its IPO by issuing new shares, with the offering price per share ranging from $70 to $80. Anthropic plans to issue 866,666,664 Class A common shares in this IPO.

At the same time, Anthropic stated that Nvidia, AMD, Broadcom, Micron, Microsoft, and TSMC—seven tech giants in total—will collectively invest $26 billion in private placements at the IPO pricing.

This group includes nearly all the current core players in the AI industry supply chain—from cloud computing platforms and AI chip design to wafer foundries, with participants spanning the entire semiconductor and cloud service ecosystem.

Meanwhile, cornerstone investors plan to sell about 23.33 million shares in this IPO. These are existing shares being transferred, so proceeds will go to the sellers rather than the company itself. This means the IPO will include both new share issuance and the transfer of existing shares.

However, before the wider market could fully digest these figures, the company quickly sent a second email denying the previously disclosed pricing information and promising an updated version.

This information disclosure error occurred at a critical juncture in Anthropic’s highly-anticipated IPO process. The price range of $70 to $80 per share and the planned issuance of approximately 867 million shares implies a potential fundraising scale in the tens of billions of dollars, making it one of the largest tech IPOs in recent years.

However, as the company has now retracted the pricing details, the accuracy of the figures above cannot be confirmed at this time. Investors and market participants will need to wait for Anthropic to release a corrected official document.

Roadshow could start as early as Tuesday, aiming to go public next Thursday or Friday

The timeline for Anthropic’s IPO has now entered a critical phase.

Wallstreet Insights article wrote that, according to Bloomberg, under relevant regulations Anthropic may begin official IPO marketing as soon as November 10 after publicly filing its prospectus on October 26. If things proceed smoothly, the company could complete pricing during the week of November 16 and debut on Nasdaq with ticker "ANT" before Thanksgiving on November 26.

However, intense market volatility has made valuation the focus of all parties’ negotiations. Months ago, a valuation around $2 trillion was discussed, but Anthropic now will almost certainly have to accept a much lower valuation. According to Bloomberg on the 6th, citing a person familiar with the matter, some potential investors are now discussing valuations as low as $1.2 to $1.3 trillion, and some are even considering $1.1 trillion.

Reports state that Anthropic has already scheduled meetings with key investors this week, with the goal of getting its stock to start trading as soon as next Thursday or Friday. The company could still postpone its valuation target and wait for more favorable market conditions, but this could trigger market panic.