Investors could be bound by escrow periods and the bank may want to retain its near $3 billion exposure as part of the AI giant’s hyped Nasdaq debut.
Commonwealth Bank is unlikely to offload its near-$3 billion stake in Anthropic and rake in huge gains as the frontier artificial intelligence giant plots a mega-Nasdaq listing tipped to value it at as much as $US2 trillion ($2.8 trillion).
That is the view of bank analysts, some of whom expect notable Anthropic investors to be bound by escrow periods or that CBA will want to retain its exposure to the AI behemoth.
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The AI company behind the Claude chatbot will offer its shares at between $70 and $78.
Anthropic will sell 825M shares at $70 to $78, trading on Nasdaq from November 19, with Google, Nvidia, and TSMC among cornerstone investors.
Anthropic's IPO is expected to come roughly five months after Elon Musk took SpaceX public in a record offering.
It’s expecting to set its final IPO share price the day before that. Earlier this week, Anthropic said that price would likely be between $70 to $78 per share, putting its valuation as high as $1.4 trillion. [Link: Anthropic’s Initial Public Offering | https://ipo.anthropic.com/us/ | Anthropic]
The corporate regulator has started legal proceedings against the nation’s biggest bank, alleging that it misled 42,000 business customers and overcharged them about $8.5 million in fees.
Latest example of the AI boom’s circular financing comes as AI trade wobbles.
