Anthropic sets IPO price range for a valuation of $1.404 trillion

On November 10, 2026, techCrunch reports that Anthropic moved forward with its public offering by setting an IPO price range of $70 to $78 per share for 825 million Class A shares. The Claude-maker aims to reach an implied valuation of $1.404 trillion on a fully diluted basis.

Key takeaways

• Anthropic plans to offer 825 million Class A shares to raise between $57.75 billion and $64.35 billion.
• The company struck private deals to sell $26 billion of non-voting Class N stock to major tech partners.
• Trading on the Nasdaq is expected to begin close to November 19 under the ticker symbol "ANT".
• Run-rate revenue reached $81 billion by the end of October.

What is the Anthropic IPO pricing strategy?

TechCrunch reports that the company intends to push ahead with its public listing despite shakier markets and a broader pullback from AI investing. The upcoming share sale is expected to bring in tens of billions of dollars. Underwriters like Goldman Sachs and Morgan Stanley also hold an option to buy up to 123.75 million additional shares.

Alongside the public share offering, Anthropic agreed to privately sell $26 billion of non-voting Class N stock at the IPO price. Major firms taking part in this private sale include AMD, Broadcom, Google, Micron, Microsoft, Nvidia, and TSMC. Google and Nvidia committed $10 billion apiece to these private shares.

What do the financials and Anthropic valuation figures show?

If shares list at the top of the price range, the Anthropic valuation hits $1.404 trillion. That figure marks an increase from the $965 billion valuation reached in a May fundraise. Meanwhile, the company reported third-quarter revenue of $17 billion and a nine-month net loss of $104 billion. Compute and infrastructure commitments reached $900.9 billion, while cash and short-term investments sat at nearly $132 billion.

In the updated filing, the business also shared details regarding its leadership team. Seven top executives, including CEO Dario Amodei and president Daniela Amodei, plan to sell nearly 3.4 million shares each. At the $74 midpoint of the IPO price range, that sale nets about $250 million for each of them.

What happens next?

Trading on the Nasdaq is expected to kick off close to November 19 under the ticker symbol "ANT". Up to 20% of the offering is set aside for retail investors. Because the business operates as a public benefit corporation, founders retain a Class F share with 50.1% of the voting power, and the Long-Term Benefit Trust will elect a board majority. This governance structure means public buyers of Class A shares will hold limited influence over corporate decisions.