According to documents seen by Reuters and subsequently withdrawn, Anthropic planned to issue approximately 866.7 million shares at a price of $70 to $80, with a maximum fundraising target of approximately $69.3 billion. The 866.7 million shares only represent the portion intended for sale. The company itself will sell approximately 843.3 million shares, and existing shareholders will sell approximately 23.3 million shares. Seven other companies, including Google and Nvidia, plan to privately subscribe for approximately $26 billion at the offering price, separate from the $69.3 billion. The company will raise approximately $93.5 billion. This fundraising amount is unprecedented, exceeding the total amount raised by SpaceX's IPO. It serves as an anchor for market capitalization. Its post-Series H valuation in May was $965 billion. Before the IPO, a valuation of approximately $2 trillion was discussed, but after the October investor day, it fell to approximately $1.5 trillion. Following the collapse of AI computing power, it is now considered by some to be too high. Compared to SpaceX: SpaceX raised $75 billion in its June IPO, valuing the company at $1.77 trillion, and its market capitalization was approximately $1.93 trillion on November 9th. $69.3 billion won't break SpaceX's $75 billion IPO record; even at a valuation of $1.5 trillion, it's still smaller than SpaceX's current size. The reason for the downward revision is clear. Third-quarter revenue was approximately $17 billion, a decrease from 144% to approximately 47% quarter-over-quarter; operating profit turned from a profit of $974 million to a loss of $567 million, with approximately $5 billion more expensive short-term computing power added during the quarter. There are also approximately $895 billion in computing power-related commitments on the books, with approximately $69.8 billion maturing in the next 12 months. Add to that the AI asset sell-off over the past month, with buyers demanding discounts.