11 November 2026 — Anthropic has put a price on its blockbuster stock-market debut. The Claude maker said in an updated filing on Tuesday, 10 November, that it will offer 825 million Class A shares at $70 to $78 each, a range that could raise $57.75 billion to $64.35 billion.
At the top of the range, Anthropic would be worth about $1.404 trillion on a fully diluted basis, according to TechCrunch — a sharp jump from the $965 billion valuation it reached in a May fundraise, but below the $2 trillion figure reportedly targeted a couple of months ago.
The numbers behind the offering
- Shares: 825 million Class A shares — 801.4 million new shares from the company and 23.6 million from existing shareholders.
- Valuation: About $1.02 trillion on shares outstanding at $78, and up to about $1.4 trillion fully diluted, counting options and other stock awards.
- Private placement: A separate $26 billion private placement, with Google and Nvidia each reportedly buying $10 billion of shares.
- Listing: Nasdaq, under the ticker “ANT”. CNBC reports pricing is expected on 18 November and trading is expected to begin on 19 November.
- Revenue: $33.2 billion in the first nine months of 2026, up from $2.5 billion a year earlier. Run-rate revenue reached $81 billion by the end of October, about $10 billion more than at the end of September.
Goldman Sachs and Morgan Stanley are among the underwriters, with an option to buy up to 123.75 million more shares at the IPO price.
Why it matters
The IPO is a test of Wall Street’s faith in the AI boom. Anthropic launched its roadshow on 10 November, the day after it released Claude Fable 5.2 and Mythos 5.2 — its fastest models yet. Reuters described the listing as a key test of whether investors still believe the enormous sums pouring into AI can generate adequate returns, after a recent pullback in AI shares.
Its biggest rival, OpenAI, was reportedly valued at $1.25 trillion last week after raising $11 billion, putting the two AI labs in the same trillion-dollar league before Anthropic even lists.
What’s next
- Watch for the final pricing on 18 November and the first day of trading on 19 November.
- The $70–$78 range is not final — strong or weak demand on the roadshow could still move it.
- Anthropic’s filing also disclosed about $900.9 billion in total purchase and lease commitments, a reminder of how expensive building AI infrastructure has become.
Related on fetlife.news: Anthropic Launches Claude Fable 5.2 and Mythos 5.2
References
- TechCrunch, 10 November 2026: https://techcrunch.com/2026/11/10/anthropic-sets-ipo-price-range-of-70-to-78-per-share-to-reach-an-implied-valuation-of-1-404-trillion/
- Reuters via SRN News, 10 November 2026: https://srnnews.com/exclusive-anthropic-ipo-to-raise-as-much-as-64-4-billion-latest-draft-prospectus-shows/
- Decrypt, 10 November 2026: https://decrypt.co/382939/anthropic-sets-ipo-price-range-at-70-to-78-valuing-company-at-up-to-1-4-trillion?amp=1