Anthropic Seeks IPO Valuation of Up to $1.4 Trillion

Anthropic launched its roadshow ahead of its initial public offering (IPO) on November 10. It plans to sell 825 million shares at $70 to $78 each, raising up to $64.4 billion. Its shares are expected to begin trading on the Nasdaq exchange in the United States on November 19 under the ticker ANT. The company also plans to raise $26 billion in a private offering to major investors, including Google, Nvidia and AMD.

The IPO would value Anthropic at up to $1.4 trillion. In October 2026, media reports said the company was seeking a valuation as high as $2 trillion; in May 2026, it was valued at $965 billion. Anthropic submitted an updated prospectus to the U.S. Securities and Exchange Commission on November 10, lowering its proposed price range and fundraising target. Preliminary terms had previously indicated it could raise as much as $69.3 billion.

According to its IPO filing, Anthropic’s annualized revenue based on its revenue level as of October 31, 2026, was approximately $81 billion, up $10 billion from a month earlier. This figure assumes that revenue continues at that level for 12 months; it is not revenue already earned over a full year.

The login screen for Anthropic’s Claude chatbot.（VietVance）

Despite its business growth, the company continues to face substantial losses. Reuters previously cited its prospectus as saying Anthropic’s 2025 revenue rose to $4.6 billion, about 12 times the previous year’s figure, while its operating loss exceeded $8 billion and its net loss reached $42 billion. The company also plans to spend $518 billion on cloud computing and other infrastructure over the next several years. Investors have recently focused on whether heavy spending on artificial intelligence can translate into revenue relatively quickly.

Source: VietVance