News about Eric Schmidt

Former Google CEO Eric Schmidt reportedly holds about 1% of Anthropic PBC through an early investment, which could make him one of the largest individual winners from the AI company’s upcoming public listing. According to Bloomberg, he put “tens of millions of dollars” into Anthropic’s Series A round in 2021, when the company was valued at $461 million, and it is unclear whether he has sold any of his stake. Investors indicated a fair valuation of $1.8 trillion to $2 trillion; at $2 trillion, Schmidt’s net worth could rise by about one-third to nearly $80 billion. Alphabet owns about 14% of Anthropic, and the company told investors that third-quarter revenue rose 45% from the previous quarter to $16.8 billion and that it was profitable on an adjusted basis. Anthropic has not formally announced an IPO date, though an early investor expects a listing in “weeks, not months.”

Former Google CEO Eric Schmidt holds about 1% of Anthropic after investing tens of millions of dollars in its Series A round, and is poised to reap one of the largest individual windfalls from the AI startup's upcoming IPO. According to PitchBook data cited by Bloomberg, Anthropic was valued at $461 million when Schmidt invested in 2021, while prospective public valuations of $1.8 trillion to $2 trillion would be more than 4,300 times that Series A baseline. At the upper end of that range, his stake could lift his net worth by roughly one-third to nearly $80 billion. Anthropic is expected to begin formal marketing for its IPO as early as the week of Nov. 9, and aims to match or surpass SpaceX's record $1.77 trillion IPO completed in June.