Anthropic is setting up for a historic IPO. From $787M to $11.5B+ in quarterly revenue in one year. Go long or short with Tradr's 2X leveraged and inverse ETFs ANTT & ANTZ, expected to launch one business day post-IPO. Learn More: Leveraged ETFs involve significant risk. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. See the pre-effective prospectus at @TradrETFs

Anthropic’s IPO offering drew multiple times the orders for the shares available, we’ve learned, putting the Claude chatbot maker on track for for potentially the biggest first-time share sale ever: Evening Briefing Europe

Anthropic’s IPO is said to be multiple times oversubscribed. The Claude maker aims to raise up to $90.4 billion through its IPO and a private placement, which could make it the largest public listing in history. It’s targeting a fully diluted valuation of up to $1.4 trillion, with Goldman Sachs and Morgan Stanley leading the deal.

Anthropic is projected to generate ~$19.3B in Q4 revenue, according to an analyst note circulating online. That's up ~14% from Q3 and roughly 9.5x from a year ago. Still, it implies a ~$77B annualized pace, below its $81B October run rate. Anthropic's IPO filing said usage typically slows during the winter holidays. Its latest model, Opus 5.5, also reduced the cost per task by ~40%, while price cuts already reduced Q3 revenue by ~$600M.

Anthropic jumps ~6% on Entropy on news that its IPO is already several times oversubscribed, with the company and its selling shareholders seeking up to $90.4 billion across the public offering and a private placement, per Bloomberg.

ANTHROPIC TARGETS $1.4 TRILLION VALUATION IN RECORD AI IPO Yorkville's Dan Ives expects strong institutional demand for Anthropic ($ANT), which is seeking to raise up to $90.4 billion. The company is marketing 825M shares at $70–$78, targeting a $1.25T–$1.4T valuation and up to $64.35B in IPO proceeds. A separate $26B private placement brings in Google, Nvidia, AMD, Broadcom, Micron, Microsoft and TSMC. Anthropic reported nearly $17B in Q3 revenue, up from $1.4B a year earlier, but swung to a $567M operating loss amid soaring compute costs. The company also disclosed $895B in commitments, mostly for computing infrastructure. Ives sees the IPO as a major test of AI valuations, with pricing expected during the week of November 16.