Anthropic Sets IPO Price Range at $70–$78 a Share

Anthropic, the AI company behind the Claude chatbot, expects to price its initial public offering at $70 to $78 a share, according to an amended registration statement filed with the SEC on Tuesday, November 10, 2026. The company plans to list its Class A stock on the Nasdaq Global Select Market under the ticker ANT.

The filing covers 825 million Class A shares. Anthropic itself is selling 801,351,354 of them, and existing shareholders are selling the other 23,648,646. Underwriters also have the option to buy up to 123.75 million more shares from the company.

The deal at a glance

*Our calculation: 825 million shares times the low and high ends of the range, before the underwriters' option. Source for all other rows: Anthropic's Amendment No. 2 to Form S-1.

At the midpoint of $74, the public offering would raise a little over $61 billion, the Associated Press noted.

Big tech partners are buying too

Alongside the IPO, seven companies have agreed to buy a combined $26.0 billion of Anthropic's Class N stock in a private placement at the IPO price, the filing says: AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC. Class N shares generally carry no vote. Counting that placement, the total money raised could reach $90.4 billion at the top of the range, Forbes reported.

How much is it worth?

The filing itself does not state a valuation, so estimates differ by method. The AP put the value at about $1.3 trillion. Yahoo Finance reported a fully diluted range of roughly $1.3 trillion to $1.45 trillion, and ABC News said it could be worth up to $1.4 trillion. If you're unsure what these figures measure, our guide to market cap explains it.

The new filing says revenue was $17.0 billion for the three months ended September 30, 2026. The AP reported first-half 2026 revenue of more than $16 billion, about 14 times the same period a year earlier, and said the company has yet to turn a profit.

Voting control stays with insiders

The earlier S-1 lays out an unusual share structure. A single Class F share held by a founders' entity will carry 50.1% of total voting power, and a Long-Term Benefit Trust will elect the directors who make up a majority of the board. Buyers of Class A stock get one vote per share. Together, these rules leave Class A buyers with far less voting power than insiders. Anthropic says it will be a "controlled company" under Nasdaq rules.

When could it trade?

Pricing is expected on November 18, with trading on Nasdaq the next day, Fortune reported. Yahoo Finance, citing The Wall Street Journal, said the debut could come on November 19 or 20. Dates can change.

What it means for regular investors

Most individual investors can only buy an IPO stock once it starts trading, when the price can swing far from the offer price. If you plan to buy on day one, consider a limit order so you control the price you pay; our guide on how to start investing in stocks covers the basics. For more on the company, see our earlier report on Anthropic's gas generator deal.

Disclosure: Berawang News uses AI tools, including Anthropic's Claude, in its newsroom.

This article is for information only and is not investment advice.