Anthropic plans IPO with unique four-class share structure

Anthropic / Wikimedia Commons (Public domain) Anthropic, the AI lab known for its Claude model family, announced plans to go public with a unique structure of four separate share classes. This structure includes Class F shares held by the seven co-founders, granting them 50.1% of voting power, and Class T shares, which will be held by the Long-Term Benefit Trust and will elect a majority of the board. The public, employees, and other investors will hold Class A shares, which are capped at 49.9% voting power. Class N shares will be reserved for strategic partners and Anthropic’s public benefit fund, with no voting rights. The market appears to view this structured approach as supportive of Anthropic’s governance and investor confidence. Market activity reflects heightened interest in Anthropic’s IPO, with a current 94.5% probability priced for the company to list by December 31, 2026. Anthropic’s valuation in the private market was last recorded at $965 billion, with projections for the IPO ranging between $1.5 trillion and $2 trillion. The introduction of multiple share classes suggests a focus on maintaining control while accommodating various investor interests, potentially boost...