Each of Anthropic's seven co-founders could hold a stake worth $27 billion to $29 billion (Rs. 2.58 lakh crore to Rs. 2.77 lakh crore) if the AI company lists at a $2 trillion (Rs. 191 lakh crore) valuation, according to estimates based on its latest regulatory filing. These are projections, not confirmed values, and the final figures will depend on the share price and the total share count after the listing.
Filing offers first detailed look at ownership
Anthropic, founded in January 2021 by seven former OpenAI employees, filed its IPO paperwork with the US Securities and Exchange Commission on Monday. The document gives investors their first detailed view of how much of the company the founders own.
Each founder holds roughly 240 million shares
According to Anthropic's beneficial ownership table, dated September 30, each co-founder holds about 240 million shares. The counts cover shares held directly or through trusts, plus 2,185,400 stock options and 639,500 restricted stock units due to vest within 60 days.
Valued at $58.90 (about Rs. 5,625) per share, the price in Anthropic's latest private funding round, individual stakes come to between $13.7 billion (Rs. 1.31 lakh crore) and $14.4 billion (Rs. 1.38 lakh crore). At a $2 trillion valuation, that rises to between $27 billion and $29 billion.
Chief compute officer Tom Brown holds the most shares, at about 244 million. At the private-round price his stake is worth $14.4 billion (Rs. 1.38 lakh crore), or an estimated $28.8 billion (Rs. 2.75 lakh crore) at the IPO valuation. Chief executive Dario Amodei holds about 240.6 million shares, worth an estimated $28.4 billion (Rs. 2.71 lakh crore). Chief architect Sam McCandlish has the smallest holding, about 231.8 million shares, valued at $13.7 billion (Rs. 1.31 lakh crore) now and an estimated $27.4 billion (Rs. 2.62 lakh crore) at the IPO valuation.
The other four co-founders fall in between, at roughly $28.5 billion to $28.7 billion at the IPO valuation. They are President and board chair Daniela Amodei, chief science officer Jared Kaplan, interpretability research lead Chris Olah, and Jack Clark, head of the Anthropic Institute.
All seven listed as selling stockholders
The filing names all seven co-founders as selling stockholders in the IPO, but the fields showing how many shares each plans to sell have been left blank.
How the $58.90 share price was derived
The figure comes from Anthropic's Series H funding round. Between May and June, the company sold 77.6 million Series H-1 preferred shares at $589.0095 (about Rs. 56,250) each, raising $45.7 billion (Rs. 4.36 lakh crore). Anthropic then split its Class A and Class N common shares 10-for-1 on September 17 and adjusted the preferred conversion rate to match, so each preferred share now converts into 10 common shares, which brings the price to $58.90.
The private-round price is only a guide, as Series H investors received preferred shares carrying rights that ordinary shareholders lack.
How the $2 trillion estimate works
The filing does not state Anthropic's total share count, but it offers enough to estimate it. The company said the 846.8 million shares moved to its new Anthropic Public Benefit Fund represented 5 percent of its fully diluted shares as of June 30, assuming Amazon's convertible notes convert in full. That implies about 16.9 billion shares. At $2 trillion, Fortune estimates the price at roughly $118 (about Rs. 11,270) per share. The $2 trillion figure does not appear in the prospectus.
Founders' donation pledge not binding
All seven co-founders have pledged to donate 80 percent of their personal Anthropic holdings to philanthropic causes. The filing makes clear that the pledges are not legally binding. Amazon and Google, two of Anthropic's biggest investors, are not included in the ownership table's disclosed share counts.
AI stocks rise on the news
AI-linked stocks gained on Monday after the filing. Nvidia, the world's most valuable company, rose nearly 3 percent, while Microsoft and Amazon each added nearly 1 percent. CoreWeave gained 5.7 percent and Nebius Group 2.3 percent, both recovering from earlier losses that followed comments by SpaceX chief executive Elon Musk. Data centre operators Applied Digital and IREN rose 1 percent and 3 percent. Micron gained 3 percent, Broadcom 3 percent and AMD 2.5 percent, while SanDisk, Western Digital and Seagate each added about 2.5 percent. Zoom Communications, an early Anthropic investor, advanced 1.5 percent, and the Philadelphia Semiconductor Index rose more than 3 percent.
Focus turns to OpenAI
Attention is now shifting to a possible OpenAI IPO. The long-term impact of such listings on AI investment remains uncertain, with investors also weighing concerns over the large sums being borrowed and spent on AI infrastructure.
