Anthropic Valuation Estimates Differ by $384 Billion at IPO Range High

For Anthropic, using the $78 upper end of the proposed IPO range, the outstanding-share estimate is about $1.02 trillion, while the fully diluted calculation is about $1.404 trillion. The first estimate counts about 13.087 billion outstanding economic-interest shares after the IPO and a $26 billion private placement. Multiplying that count by $78 gives about $1.02 trillion. The $78 figure is the upper end of the proposed price range, not a confirmed final IPO price. The fully diluted calculation uses roughly 18 billion shares. Applying the $78 upper end of the proposed price range to that count produces about $1.404 trillion, roughly $384 billion above the outstanding-share estimate. These are estimates based on different share counts; they do not establish Anthropic’s final IPO price or share total.

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