Anthropic's IPO draws several times the orders for the shares on offer, Bloomberg reports, a week before its planned November 18 pricing

Anthropic's IPO has drawn orders for several times the shares on offer, Bloomberg reported on November 11, citing people familiar with the matter. Bloomberg gave no multiple. Anthropic has not commented, and its latest SEC filing still shows the range it set on November 10: 825 million Class A shares at $70 to $78.

WHAT IS REPORTED

• Bloomberg, November 11: anchor-size indications of interest drove the demand, and the people said the IPO's details could still change.
• Bloomberg, same report: Anthropic is targeting a fully diluted valuation of about $1.4 trillion, below where some investors expected it to settle. A person familiar said investor events include a livestream with CEO Dario Amodei and JPMorgan Chase CEO Jamie Dimon on Friday, November 13.
• Bloomberg, November 10: orders already covered all the shares when the deal launched, per Investing.com's account of that report.
• CNBC, November 10 (Ashley Capoot and Leslie Picker), citing people familiar: Anthropic plans to price on November 18 and start trading on November 19, and is targeting a retail allocation of about 20%. CNBC put the fully diluted value at up to $1.405 trillion at the top of the range.

WHAT THE FILINGS AND BROKERS SAY

• At 14:50 UTC on November 11, the newest filing on SEC EDGAR is still the amended S-1 of November 10. No new price range has been filed.
• The $90.4 billion figure in the reports is the IPO and the private placement together at the $78 top: $64.35 billion from the 825 million shares plus the $26.0 billion placement with Google, NVIDIA, AMD, Broadcom, Micron, Microsoft and TSMC.
• Fidelity's Anthropic IPO page says the offer period is expected to close at 4:00 PM ET on Tuesday, November 17, with the registration declared effective and the offering priced on the evening of Wednesday, November 18.

WHAT WE DO NOT KNOW

How many times the book is covered, and whether Anthropic will raise the range or price above it. Indications of interest in an IPO are not binding until the deal prices. We also do not know the final price, or whether the November 18 and 19 dates hold. The next amended S-1 on EDGAR would show any change to the range, and we will update this story when one appears.