Anthropic plans to raise up to $64.35 billion in its upcoming initial public offering, setting a price range of $70 to $78 per share.
The artificial intelligence lab intends to list on the Nasdaq under the ticker “ANT” following a potential pricing date of November 18, 2026.
The company’s valuation targets have shifted as market conditions fluctuate. While earlier discussions pointed toward a $2 trillion valuation, current estimates place the company between $1.26 trillion and $1.405 trillion on a fully diluted basis, according to data from MLQ.
Ipek Ozkardeskaya of Swissquote Bank noted the broader market context during this period: What we are seeing is essentially a reassessment of Anthropic’s value in a more challenging AI environment
. Sources familiar with the offering told CNBC that even $1.5 trillion is now in doubt, with one investor calling that number a “stretch.”
Anthropic is offering 825 million shares in its upcoming IPO, of which 801,351,354 are being sold by Anthropic and 23,648,646 by existing stockholders, from whom the company receives nothing. The company’s prospectus addressed potential shareholders with the following message: Everyone who owns our stock, whether an institution or an individual, becomes part of that effort. We hope you will share our ambition to see it though.
Hope we get past 24/7 Jensen today.. It's obscuring Anthropic which is the most consequential deal of our time…
— Post by @jimcramer on X
Goldman Sachs and Morgan Stanley lead a 22-bank syndicate managing the offering. Goldman Sachs secured the lead-left bookrunner seat, while Morgan Stanley serves as stabilizing bid agent.
Advanced Micro Devices, Broadcom, Google, Micron Technology, Microsoft, NVIDIA, and TSMC Partners agreed, severally and not jointly, to buy an aggregate $26 billion of Class N stock at the IPO price in a private placement. This move serves to anchor demand at the offer price, according to 24/7 Wall St.
🇺🇲 #Anthropic’s nearly $70 billion IPO plan briefly circulated to banks, then retracted – Reutershttps://t.co/1oywbM1TdY
— Post by @C_Barraud on X
The company’s financial disclosures show rapid revenue growth, with $33.24 billion generated in the nine months ended September 30, 2026, up roughly 1,200% from the same period last year. However, Anthropic continues to manage high infrastructure costs.
As noted by Morningstar, the S-1 filing showed Anthropic spent $1.04 for every $1.00 of revenue it booked in the first half of 2026, resulting in an approximately $650 million operating loss on $16.3 billion of revenue. Anthropic’s purchase commitments and lease agreements total approximately $900.9 billion, substantially all related to compute and infrastructure.
The company plans to price on Nov. 18 and trade on Nov. 19 on the Nasdaq Global Select Market under the “ANT” ticker symbol.
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Anthropic has launched the roadshow for its proposed initial public offering: https://t.co/oE6TA0vt3E Legal disclaimer: A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may…
— Post by @AnthropicAI on X
Earlier coverage: Anthropic Files S-1 for Nasdaq IPO with $17B Revenue
Anthropic eyes $1.4 trillion IPO valuation in test of Wall Street's AI fervor https://t.co/1hx8nFgmM8
— Post by @pstAsiatech on X
More on Goldman Sachs
The AI rout has prompted a rethink of Anthropic's expected valuation https://t.co/WlSEPmEHUw
— Post by @pstAsiatech on X