Anthropic's massive IPO is said to be multiple times oversubscribed.

People familiar with the matter said demand for Anthropic's IPO is red-hot, with orders already several times the number of shares on offer. The IPO is expected to be the largest ever, with market demand continuing to heat up. The people said demand is mainly coming from indications of interest from cornerstone investors. The Claude chatbot developer and its co-founders plan to raise up to $90.4 billion in total through the IPO plus a private placement. Combined, the two fundraisings would exceed SpaceX's IPO and could make it the largest listing financing in history. The people said the terms of the IPO could still change. Representatives for Anthropic did not immediately respond to a request for comment. Another person familiar with the matter said Anthropic is holding a series of pitch events for potential investors to boost IPO subscription interest, including an online livestream this Friday at which CEO Dario Amodei will appear alongside JPMorgan CEO Jamie Dimon.