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Wall Street Makes Its Pitch for Anthropic’s I.P.O.
The New York Times • • business
Key Points:
- Jamie Dimon, CEO of JPMorgan, recently interviewed Dario Amodei, CEO of Anthropic, ahead of the company's highly anticipated initial public offering (IPO).
- Anthropic plans to raise up to $100 billion with a valuation of up to $1.4 trillion, a decrease from earlier estimates of $2 trillion due to recent market volatility.
- The company has engaged 22 banks, led by Goldman Sachs and Morgan Stanley, to conduct a roadshow targeting institutional investors.
- JPMorgan and Citi are managing sales to individual investors, expected to constitute about 20% of the offering, while major tech firms like Broadcom, Nvidia, and Microsoft have committed $26 billion post-listing.
- Despite market uncertainties, both Anthropic and JPMorgan project confidence and flexibility regarding the timing of the IPO.
