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Anthropic plans to sell 825 million Class A common shares in its initial public offering, with an estimated price range of $70 to $78 per share, according to an SEC filing. At the midpoint of that range, the offering would raise roughly $61 billion, implying a valuation of about $1.1 trillion on the shares sold. The filing marks a major step toward a public listing for one of the largest AI model developers, giving equity investors direct exposure to the sector. The wide price band suggests the company and its underwriters are still gauging demand ahead of the roadshow. What to watch next: the final offer price, the exact listing date and exchange, and whether the deal prices at the top or bottom of the range.

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Anthropic, SEC