Anthropic plans to price its shares on Nov. 18 and begin trading the following day, according to updated IPO paperwork filed Tuesday. The company intends to offer 825 million shares at $70 to $78 apiece. At the high end of that range, the offering would raise $64.35 billion and value the Claude developer at up to $1.405 trillion on a fully diluted basis.
Jim Cramer expressed uncertainty regarding the long-term investment case for the artificial intelligence startup despite its explosive growth and improving profitability. Cramer identified three primary areas of concern, including the impact of recent price cuts on revenue and whether the company can sustain growth to cover roughly $900 billion in future computing commitments.
While Claude Code has driven significant growth among enterprise customers, Cramer questioned if that single product could meet the company's massive financial obligations. Potential growth opportunities mentioned include Claude Cowork, cybersecurity, life sciences, and robotics.
Another point of contention involves the company's commitment to AI safety. While CEO Dario Amodei has warned about the dangers of powerful models, Cramer noted that this safety-first approach could either constrain revenue by slowing model releases or provide a competitive advantage as businesses become more cautious.
