AI giant IPO set to make early backers billions

Households and investment firms that backed Anthropic early are poised for significant financial gains as the artificial intelligence lab prepares for a public offering. The company is expected to list on the stock market within the current year, with a projected valuation reaching as high as $2 trillion. Even before the official listing, the stakes held by various venture capitalists and early supporters have already accumulated to billions of dollars based on the most recent private market pricing.

The current private valuation for Anthropic stands at $965 billion. At this price point, the financial positions of several prominent backers are substantial. Bloomberg data provides a breakdown of what these specific stakes are worth under the latest valuation metrics.

Eric Schmidt, the former chief executive of Google, invested in the company's Series A funding round in 2021. At that time, PitchBook data indicates the startup was valued at $461 million. Schmidt currently holds approximately 1% of the company. Even without the IPO premium, his stake is valued at nearly $10 billion under the current private valuation.

Iconiq, an investment firm, provided a $6 billion injection of capital last year. This investment occurred when Anthropic was already valued at $183 billion. That late-stage bet is now worth $17 billion. Analysts suggest this value has the potential to double once the company completes its public offering.

Menlo Ventures led the Series D funding round for the AI lab. The firm has invested more than $1 billion in Anthropic over time. This cumulative stake is currently worth $14 billion. The firm's early leadership in a major funding round has resulted in a significant return on investment relative to its initial outlay.

Sequoia, a well-known venture capital firm, first backed Anthropic earlier this year. The company was already valued at $380 billion at the time of this investment. Sequoia invested $3 billion, which secured it about 1% ownership. This position has already more than doubled its initial investment based on current valuations.

Sound Ventures, launched by Guy Oseary and actor Ashton Kutcher, invested $35 million in the 2023 Series C round. The firm subsequently funneled an additional $400 million into the company. This combined position is now worth billions. It is noted that Kutcher left Sound Ventures earlier this year to launch a new venture capital firm.

Spark Capital, the only VC firm known to hold a board seat at Anthropic, invested $75 million in the same 2023 Series C round. At that time, the company was valued at $5 billion. That position has since ballooned more than ninetyfold to reach a value of $7 billion.