Anthropic unveils $350 billion valuation tender offer, eyes $20 billion funding

According to a person familiar with the situation, Anthropic is working on a plan to allow certain employees to sell firm shares at a valuation of at least $350 billion. This strategy is coming together concurrently with a funding round that might generate more than $20 billion.

Employees of Anthropic would be able to cash out some stock in one of the most valuable artificial intelligence businesses in the world through the tender offer. According to the source, the $350 billion valuation is pre-money, which excludes funds being raised, and it is the same one being discussed in the company's ongoing fundraising.

Anthropic refused to comment on the endeavour.

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The person, who requested to remain anonymous due to the private nature of the situation, stated that the specifics of the tender offer have not yet been finalised. The final transaction value will depend on how much stock eligible current and former workers choose to sell, they said. The financing for the secondary deal is being lined up from investors.

Depending on Anthropic's current fundraising round and the company's worth, the tender offer's valuation may also alter.

As more large firms decide to remain private longer, secondary share sales are becoming a more common option for startups to provide employees with a way to obtain liquidity in a competitive AI hiring landscape.

SpaceX and Stripe Inc. have made several similar agreements. The largest competitor of Anthropic, OpenAI, has also regularly sold shares; in October, it completed a $6.6 billion secondary at a $500 billion value. Both SpaceX and OpenAI have recently moved closer to IPOs.