Anthropic, the artificial‑intelligence company behind the Claude model, started its initial public offering roadshow on Nov. 10. The company plans to list Class A common stock on the Nasdaq Global Select Market under the symbol “ANT.”
Offering details
The proposed sale includes 825 million shares, of which 801,351,354 would be offered by Anthropic and 23,648,646 by existing shareholders. The IPO price range is set at $70.00 to $78.00 per share, implying gross proceeds of $57.75 billion to $64.35 billion before underwriting discounts and other expenses. At the midpoint price of $74, the transaction would generate approximately $61.05 billion in total gross proceeds, with about $59.3 billion attributable to Anthropic itself.
Underwriters have a 30‑day option to purchase up to 123.75 million additional shares, which could raise the total share count to 948.75 million and increase gross proceeds to roughly $74 billion if fully exercised at the top of the price range.
Private placement and funding use
Alongside the IPO, Anthropic filed an amended registration statement outlining a conditional $26 billion private placement. The investors include major technology firms such as Google, Nvidia, AMD, Broadcom, Micron, Microsoft and TSMC. Proceeds from both the IPO and the private placement are earmarked for operations, computing infrastructure, hiring, and potential acquisitions or investments.
Financial snapshot and shareholder structure
For the first nine months of 2026, Anthropic reported $33.2 billion in revenue and a $1.3 billion operating loss. The company disclosed purchase and lease commitments of about $900.9 billion, primarily for computing infrastructure, with $70.7 billion due within the next 12 months.
Founders hold special Class F shares that grant 50.1% of voting power on general shareholder matters, and a Long‑Term Benefit Trust holds rights to elect a majority of directors, limiting the influence of ordinary shareholders.
