Artificial intelligence company Anthropic has withdrawn documents outlining a proposed initial public offering that could have raised approximately $69.3bn after informing banks that the financial details were inaccurate.
The company, which developed the Claude AI chatbot, had circulated a securities filing containing information about the number of shares it intended to sell and the expected price range.
According to Reuters, the figures were subsequently retracted after an Anthropic representative notified recipients that corrections would be made.
Anthropic’s filing details emerge
The withdrawn document indicated that Anthropic planned to offer approximately 866.7 million Class A shares at prices ranging from $70 to $80 each.
Of that number, the company reportedly intended to sell about 843.3 million shares, while existing shareholders would offer another 23.3 million.
The proposed sale would have been valued at approximately $69.3bn at the upper end of the indicated price range.
However, the company later informed financial institutions that the figures contained inaccuracies.
Company declines further clarification
An Anthropic representative reportedly sent an email explaining that the information was incorrect and would be updated.
Reuters said it could not independently establish which details were inaccurate.
Anthropic also declined to provide additional comments on the withdrawn figures.
Consequently, the proposed $69.3bn fundraising amount cannot be treated as the company’s confirmed final target.
Major technology firms linked to investment
The withdrawn filing also indicated that seven major technology companies had agreed to participate in a $26bn private placement connected to the proposed IPO.
The companies named were Google, Nvidia, Advanced Micro Devices, Broadcom, Micron Technology, Microsoft and Taiwan Semiconductor Manufacturing Company.
According to the document, the investment arrangement involved Anthropic’s Class N common stock.
The proposed placement was expected to close shortly after the IPO.
AI company prepares for stock market debut
Anthropic is reportedly preparing to begin its investor roadshow on Tuesday, November 10, with pricing anticipated the following week.
The company had previously moved its proposed listing from October to November to accommodate the release of its third-quarter financial results.
The withdrawn filing highlights uncertainty surrounding the final details of one of the technology industry’s most closely watched proposed public offerings.
Anthropic has not announced a confirmed replacement price range for the shares.
