Source : The Verge
SAN FRANCISCO, California, November 10, 2026 – Anthropic, the maker of the Claude AI assistant, has set an expected price range of $70 to $78 per share for its initial public offering, a step that could value the company at up to about $1.4 trillion. The company announced the terms on Tuesday as it launched the roadshow for the offering, and the news was reported by The Verge, TechCrunch and CNBC.
According to Anthropic, the proposed offering consists of 825 million shares of Class A common stock. Of these, 801,351,354 shares are being sold by the company and 23,648,646 by certain existing stockholders; Anthropic will not receive proceeds from the shares sold by those stockholders. The underwriters have a 30-day option to buy up to 123,750,000 more shares. Anthropic has applied to list on the Nasdaq Global Select Market under the symbol “ANT”.
TechCrunch reported that the sale is expected to raise between $57.75 billion and $64.35 billion, and that the company could be worth about $1.404 trillion on a fully diluted basis if its shares list at the top of the range. That would be a significant jump from the $965 billion valuation Anthropic reached in a May fundraising round, but it is below the roughly $2 trillion the company was reportedly aiming for a couple of months ago, as Reuters has noted. The Verge added that rival OpenAI was valued at $1.25 trillion as of last week.
On timing, CNBC reported, citing people familiar with the plans, that Anthropic intends to price the offering on November 18 and begin trading on November 19, 2026. The Verge, citing The Wall Street Journal, said the company is aiming for shares to start trading on Thursday or Friday of next week. CNBC also reported that around 20 percent of the offering is targeted at retail investors, a much higher share than the 5 to 10 percent typical of an IPO, and that the order book was already covered at the range on an allocable basis. Those details come from unnamed sources and have not been confirmed by the company.
TechCrunch said Anthropic is pushing ahead despite shakier markets and a broader pullback from AI investing. The Verge linked the lower expectations to months of debate about AI safety and to midterm election results that showed souring public opinion toward AI companies and the data centre projects they are investing in. Goldman Sachs and Morgan Stanley are among the underwriters, according to TechCrunch.
Because Anthropic is a public benefit corporation, TechCrunch noted, its founders hold a Class F share carrying 50.1 percent of the voting power, and a Long-Term Benefit Trust will elect a majority of the board, so buyers of Class A shares will have limited influence over the company.
CNBC noted that a November listing would come about five months after SpaceX’s record IPO, which raised $85.7 billion. Anthropic’s own announcement carries the usual caution: a registration statement has been filed with the US Securities and Exchange Commission but has not yet become effective, and the securities cannot be sold or offers to buy accepted until it does. The price range is an estimate, and the final price will be set through negotiation between the company, the selling stockholders and the underwriters.
This report is for information only and is not investment advice.
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