The company behind Claude wants up to $64 billion from Wall Street — in what could be one of the biggest IPOs ever.
825 million shares. $70 to $78 each. Ticker: ANT. Trading could start around November 19.
Anthropic, the artificial intelligence company that makes the Claude chatbot, launched the roadshow for its stock market debut on Tuesday, November 10, 2026. In an updated filing, it set a price range of $70 to $78 per share for 825 million Class A shares.
At the top of that range, the IPO would raise up to about $64.35 billion. The shares are set to trade on the Nasdaq under the ticker ANT, and CNBC reports that sources expect trading to begin around November 19.
- 📈 Ticker: ANT on the Nasdaq Global Select Market.
- 💵 Price range: $70 – $78 per share.
- 🧮 Shares: 825 million (plus up to 123.75 million extra for the banks).
- 💰 Money raised: about $57.75 billion to $64.35 billion.
- 📅 First trade: expected around Nov. 19, according to CNBC's sources.
The numbers, made simple
| Item | Figure |
|---|---|
| Shares sold by Anthropic | 801,351,354 |
| Shares sold by existing owners | 23,648,646 (Anthropic gets none of this money) |
| Extra option for underwriters | Up to 123.75 million shares, for 30 days |
| Private deal with big tech partners | $26 billion of non-voting Class N stock |
| Run-rate revenue (end of October) | About $81 billion |
| Revenue, first 9 months of 2026 | $33.24 billion (up about 1,200% on a year earlier) |
| Last private valuation (May) | $965 billion |
So how much is Anthropic worth?
That depends on how you count, and the big outlets give three different numbers. TechCrunch says the top of the range means about $1.404 trillion on a fully diluted basis. The Wall Street Journal puts it at about $1.3 trillion. Reuters, counting only the shares already outstanding, gets up to about $1.02 trillion.
Either way, it is lower than the talk from a few months ago, when a figure near $2 trillion was being discussed. Quartz reports that several large backers pushed for a lower number after AI stocks sold off.
Google, Nvidia and Microsoft are buying in too
Next to the public sale, Anthropic struck a deal to privately sell $26 billion of stock at the IPO price to seven tech giants: AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC. According to TechCrunch, Google and Nvidia are putting in $10 billion each.
Counting everything, Anthropic estimates its net proceeds at between $84.6 billion and $93.7 billion. The higher number assumes the banks buy all the extra shares.
Who gets rich — and who stays in control
The filing shows that each of Anthropic's seven co-founders — including CEO Dario Amodei and President Daniela Amodei — plans to sell nearly 3.4 million shares. At the $74 midpoint, TechCrunch says that is about $250 million each.
But regular buyers will not get much power. Anthropic is a public benefit corporation. The founders hold Class F shares with 50.1% of the voting power, and a body called the Long-Term Benefit Trust elects most of the board. Up to 20% of the offering is expected to go to retail investors.
The risks investors will ask about
Revenue is exploding, the order book is reportedly already covered at the full range, and some of the biggest names in tech are buying $26 billion of stock.
Anthropic posted a $104 billion net loss over nine months, mostly from accounting changes, and an operating loss of $567 million in Q3. Markets are shaky after a tech sell-off.
Anthropic says the Q3 operating loss came mostly from $5 billion of expensive short-term computing power. It is also fighting hard for market share against rival OpenAI. On the same day, Bloomberg reported that Anthropic unveiled new workplace apps, including a spreadsheet tool called Claude Sheets.
FAQ
When does Anthropic stock start trading?
CNBC reports that sources expect trading to begin around November 19, 2026. The date is not officially confirmed.
What is Anthropic's stock ticker?
ANT, on the Nasdaq Global Select Market.
What is the Anthropic IPO price?
The expected range is $70 to $78 per share. The final price will be set after the roadshow.
How much money is Anthropic raising?
Up to about $64.35 billion in the IPO, plus a separate $26 billion private sale to tech partners.
Can regular people buy Anthropic shares?
Anthropic expects up to 20% of the offering to go to retail investors, through the banks and brokers that take part.
