AI Business
1d ago
Anthropic sets IPO share price range of $70 to $78, aiming for $1.404 trillion valuation
Nov 10, 2026
AI Summary
Anthropic has announced an IPO price range of $70 to $78 per share, which could lead to a valuation of $1.404 trillion. The company plans to offer 825 million shares and has secured a deal for $26 billion in non-voting stock from major tech firms, despite a challenging market for AI investments.
- Anthropic plans to offer 825 million Class A shares at an estimated price range of $70 to $78 per share in its IPO.
- The expected proceeds from the IPO are between $57.75 billion and $64.35 billion, potentially valuing the company at $1.404 trillion if shares list at the top of the range.
- This valuation is an increase from a previous $965 billion valuation during a May fundraise but lower than the $2 trillion target set earlier.
- Anthropic has arranged a private sale of $26 billion in non-voting Class N stock to major tech companies, including Google and Nvidia, each investing $10 billion.
- The company estimates net proceeds from the IPO could reach between $84.6 billion and $93.7 billion if underwriters exercise their option to purchase additional shares.
- Underwriters, including Goldman Sachs and Morgan Stanley, can buy up to 123.75 million additional shares at the IPO price.
- As a public benefit corporation, Anthropic's founders maintain significant voting power, limiting influence from Class A shareholders.
- The company plans to begin trading on the Nasdaq under the ticker symbol “ANT” around November 19, with up to 20% of shares allocated to retail investors.
- Anthropic reported a run-rate revenue of $81 billion as of October, with third-quarter revenue of $17 billion and a nine-month revenue of $33.2 billion, alongside a net loss of $104 billion for the same period.
- The company has approximately $132 billion in cash and short-term investments, while its main competitor, OpenAI, was recently valued at $1.25 trillion after raising $11 billion.
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