Fully Diluted Valuation

Anthropic updated its IPO filing to offer 825 million shares at $70-78 each, raising up to $64.35 billion and implying a fully diluted valuation of up to $1.405 trillion, well above its $965 billion mark in May. Seven giants including AMD, Nvidia, Microsoft, Google and TSMC will concurrently purchase $26 billion of Class N shares at the IPO price. Revenue hit $33.24 billion in the first nine months, up roughly 1200% year over year, while net loss reached $104 billion amid growing investor caution on AI valuations.