Anthropic's $64B IPO order book is six times covered before pricing

Anthropic is offering 825 million shares in its listing, with a price range of $70 to $78 per share set in its IPO filing. At the top of that range the sale would total about $64.35 billion, in line with the roughly $64 billion offering size Reuters has described. Per Reuters via CTech, orders covered about twice the available shares by the end of the first roadshow day and reached six times that by Thursday. Pricing is expected Wednesday, November 18.

The listing follows a $26 billion private placement announced November 10, in which chip and cloud suppliers bought shares alongside the company. It comes days after Jensen Huang stepped down as Nvidia chief executive, a change that has investors asking how the largest AI suppliers will keep funding startups.

For founders, the final price will set the first public mark for a frontier lab, against which private AI companies will be compared. Watch the final price, long-only demand, and first-day trading on November 19.