Anthropic Seeks 50.1% Voting Power Ahead of $965 Billion IPO

Anthropic’s board is being asked to adopt a new corporate structure that would give its six co‑founders a collective 50.1% of voting power, The Information reported on Thursday. The proposal mirrors Palantir’s founder‑control model, allocating a special class of shares that unlocks decisive voting rights on most corporate matters, while leaving a seven‑seat board largely intact—one seat currently vacant.

The structure hinges on a minimum shareholding threshold: the arrangement remains in force as long as at least three of the seven co‑founders keep a specified number of shares. Employees would receive a separate class of shares that act as tie‑breakers on certain board decisions, a detail insiders say mirrors early stages of Anthropic’s 2021 funding rounds.

Funding context sharpens the picture. In May, Anthropic closed a $65 billion round that set its post‑money valuation at $965 billion, a figure that dwarfs most enterprise AI peers. The raise came after a series of high‑profile investments, including from Microsoft and Google, and underscores the appetite for AI platforms ahead of a major public offering.

The IPO timetable appears tied to the U.S. midterm elections in November. According to a Reuters piece earlier this month, Anthropic may postpone its listing until after the polls, a strategy it believes will shield the valuation from short‑term political volatility. Market watchers note that a high‑valuation, founder‑controlled IPO places the company in a similar bracket to Palantir’s 2020 debut, suggesting a potential price range of $50–$70 per share if the offering proceeds.

Investors and analysts are watching the vote carefully. A 50.1% control stake could raise governance concerns for institutional buyers, but also signals a strong founder‑driven vision that has historically attracted high‑yielding capital. The company’s financials remain undisclosed, so the immediate impact on trading is limited; however, the announcement has already spurred speculation in over‑the‑counter AI equity discussions.

Forward guidance remains sparse. Anthropic has not yet set a definitive IPO date beyond the post‑November window, and no formal filing has outlined pricing or share count. The next milestone to watch will be the company’s formal prospectus, likely filed in the coming weeks, which will clarify the exact dilution, share pricing, and any lock‑up provisions that could affect secondary trading once the stock hits the market.