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Anthropic Sets IPO Price Range of $70 to $78 a Share, Valuing the Company at Up to $1.4 Trillion

Anthropic said Tuesday it will sell 825 million shares at $70 to $78 each in an offering that could raise up to $64.35 billion, with chip and cloud suppliers agreeing to buy $26 billion of stock alongside the listing.

By admin Nov. 10, 2026 · 11:45 AM ET 2 min read

Rows of server racks with blinking lights in a data center corridor

Anthropic said Tuesday it will offer 825 million Class A shares at $70 to $78 each in its initial public offering, a price range that would raise $57.75 billion to $64.35 billion and value the maker of the Claude chatbot at up to $1.404 trillion on a fully diluted basis, according to an amended filing with the Securities and Exchange Commission and reporting by TechCrunch.

The filing also disclosed a separate private sale of $26 billion in non-voting Class N stock to AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC. Google and Nvidia are investing $10 billion each, TechCrunch reported. With the IPO and the private sale combined, Anthropic estimates net proceeds of $84.6 billion to $93.7 billion, with the higher figure applying if underwriters use their option to buy up to 123.75 million more shares.

Traders at desks facing large wall screens showing stock charts

A lower number than investors expected

The top of the range is above the $965 billion valuation Anthropic reached in a funding round in May, but below the $2 trillion figure the company was reported to be targeting a couple of months ago. The range is also below the $1.5 trillion figure that drew pushback from investors, as US News America previously reported.

Trading is expected to begin on the Nasdaq close to Nov. 19 under the ticker symbol “ANT”, CNBC reported, and up to 20 percent of the offering is expected to go to retail investors.

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Revenue and losses in the filing

The filing put third-quarter revenue at $17 billion and revenue for the first nine months of the year at $33.2 billion. Run-rate revenue reached $81 billion by the end of October, about $10 billion more than at the end of September. The company reported a nine-month net loss of $104 billion, with compute and infrastructure commitments of $900.9 billion, and said it held nearly $132 billion in cash and short-term investments.

The filing also listed share sales by the company’s co-founders. Chief executive Dario Amodei, president Daniela Amodei and five other senior leaders are each selling nearly 3.4 million shares, worth about $250 million each at the $74 midpoint of the range.

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OpenAI, Anthropic’s largest rival, was valued at $1.25 trillion last week after it raised $11 billion, TechCrunch reported.

Reporting based on coverage by TechCrunch and CNBC.

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