Anthropic, the artificial intelligence company behind the Claude chatbot, on Tuesday set a price range for what is shaping up to be one of the largest stock market debuts ever. An updated filing puts the shares at $70 to $78 each, which could value the San Francisco company at up to about $1.4 trillion on a fully diluted basis, according to TechCrunch and Decrypt.
The shares are expected to trade on the Nasdaq under the ticker “ANT.” CNBC reported, as cited by Decrypt, that the final price is expected to be set Nov. 18, with trading starting the next day, Nov. 19. Anthropic itself has not publicly confirmed that date, the San Francisco Standard noted.
The numbers behind the offering
According to the filing details reported by TechCrunch and Decrypt, the deal breaks down this way:
- Shares offered: 825 million Class A shares, most of them newly issued, with about 23.6 million coming from existing shareholders.
- Money raised in the IPO: roughly $57.75 billion to $64.35 billion, depending on where the price lands.
- Private sale to chip and cloud partners: $26 billion of non-voting stock sold at the IPO price to Google, Nvidia, Microsoft, AMD, Broadcom, Micron and TSMC. Google and Nvidia are each putting in about $10 billion.
- Everyday investors: up to 20% of the offering is set aside for retail buyers, which CNBC described as well above the norm for an IPO.
- Banks: Goldman Sachs and Morgan Stanley are among the underwriters.
Taken together, the IPO and the private sale could bring in close to $90 billion, the San Francisco Standard reported, which would top the roughly $86 billion SpaceX raised in June. Decrypt, citing CNBC, reported that the order book was already covered at the proposed range.
Fast growth, heavy spending
The filing gives the public its clearest look yet at Anthropic’s finances. The company reported $33.2 billion in revenue for the first nine months of 2026, up from $2.5 billion a year earlier, including $17 billion in the third quarter alone, according to TechCrunch and Decrypt. TechCrunch reported that the company’s annualized revenue pace reached $81 billion by the end of October.
The costs are just as striking. Anthropic posted a $104 billion net loss over those nine months. Decrypt reported that most of that, about $94.3 billion, came from a non-cash accounting charge tied to convertible notes and similar instruments, and that the operating loss was about $1.26 billion. The company has also committed to roughly $900.9 billion in future spending, mostly on computing power and data centers, with about $70.7 billion due within the next 12 months. It held about $132 billion in cash and short-term investments, TechCrunch said.
That spending is part of a larger AI building boom that has made some voters and investors uneasy. In last week’s election, voters rejected data centers in nearly every local ballot measure, and chip stocks have swung sharply in recent days, as seen when the Dow jumped 1,100 points Monday as chips rebounded.
A lower price tag than once floated
The top-end valuation is higher than the $965 billion Anthropic was valued at in a private funding round in May. But it falls short of the roughly $2 trillion the company reportedly eyed in September and the $1.5 trillion figure investors discussed in October, according to TechCrunch, Decrypt and the San Francisco Standard. Decrypt noted the Wall Street Journal reported some investors expected the number could slide closer to $1 trillion.
The listing also comes as rival OpenAI was reportedly valued at $1.25 trillion last week after raising $11 billion, about half of what it first sought, TechCrunch reported.
Who will be in control
Anthropic is organized as a public benefit corporation, meaning it is legally set up to weigh a stated public mission alongside profits. Buyers of the public shares will have limited say. A single Class F share held by the founders carries 50.1% of the voting power on most matters, and a body called the Long-Term Benefit Trust elects a majority of the board, according to the filing as reported by TechCrunch and Decrypt.
TechCrunch reported that seven co-founders, including CEO Dario Amodei and President Daniela Amodei, each expect to sell nearly 3.4 million shares, worth about $250 million apiece at the midpoint price. Many employees will have to wait about six months before fully selling their stock, the San Francisco Standard reported, with executives facing lock-up periods of six months to a year.
Why it matters for families
Most families will never buy a share of this offering, but the deal still matters. AI tools like Claude and ChatGPT are showing up in schoolwork, jobs and everyday apps, and the money raised here will largely go toward building more computing power. This article is for general information only and is not investment advice; anyone thinking about a newly public stock may want to talk with a licensed financial professional first.
What to watch next
The key dates are the expected pricing on Nov. 18 and the first day of trading on Nov. 19. Watch whether the final price lands inside, above or below the range, and how the debut affects other AI and chip stocks. Upstormed News will follow the listing as it unfolds.
Read more: Nvidia Falls 5% as Board Probes Reports CEO Jensen Huang Was Spy Target
Do you use AI tools at home, school or work, and does a trillion-dollar AI company surprise you?
Sources: TechCrunch, “Anthropic sets IPO price range of $70 to $78 per share to reach an implied valuation of $1.404 trillion” (November 10, 2026); Decrypt via Yahoo Finance, “Anthropic Sets IPO Price Range at $70 to $78, Valuing Company at Up to $1.4 Trillion” (November 10, 2026); San Francisco Standard, “Anthropic sets IPO price range, revealing scale of Bay Area windfall” (November 10, 2026)
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