Anthropic to Raise $64bn in Major Nasdaq IPO on Nov. 19
Anthropic, maker of the Claude chatbot, plans to sell 825 million shares at $70 to $78 each in a Nasdaq listing starting November 19. The offering would be the first by a fully AI-focused company, and it arrives as AI stocks come under pressure.
Anthropic, the company behind the Claude chatbot, plans to raise up to $64bn when it lists on New York's Nasdaq exchange on November 19, 2026, according to updated filings made on Tuesday. It would be the first fully AI-focused company to go public.
The listing comes at a nervous moment for technology stocks. Investors are watching whether the money pouring into AI will pay off.
Price range and valuation
Anthropic will offer 825 million shares of Class A common stock at $70 to $78 each. At the top of that range the sale would bring in $64.35bn. The company plans to price the offering on November 18 and trade under the symbol ANT.
On a fully diluted basis, which counts restricted shares and employee options, the company would be worth up to $1.405tn. That is well above the $965bn valuation set in a funding round in May. It is below the $2tn some backers had predicted in summer.
Anthropic also plans to sell $26bn of Class N stock in a private placement. Buyers include Nvidia, Google, Advanced Micro Devices, Broadcom, Micron, Microsoft and Taiwan Semiconductor Manufacturing, all of which already hold stakes or partnerships with the company.
Revenue and losses
Anthropic's revenue for the six months to the end of June jumped to $16.2bn from $1.1bn a year earlier. Its pre-tax loss rose to $80.7bn from $12.9bn.
Revenue was about $17bn in the three months to September, according to the latest filings. Goldman Sachs bankers have told investors they expect about $52bn in sales for all of 2026.
Market backdrop
The Nasdaq fell sharply after last week's US midterm elections on concerns that a Democrat-led Congress could slow AI development and the buildout of data centers. Stocks in data center developers dropped, and a rout last week wiped $3tn from US markets.
Fiona Cincotta, a senior market analyst at City Index, called the $64bn target "fairly bullish" given the AI volatility of recent days. "It's showing that they are still sort of upbeat about the outlook as far as AI is concerned," she said.
Jim Cramer said a strong debut matters for the wider market. "We really needed something positive. We needed something good," he said.
Anthropic was co-founded in 2021 by Dario and Daniela Amodei and five others, all formerly of OpenAI. OpenAI is expected to list early next year.
The company has warned investors that advanced AI systems could pose "catastrophic or existential risks to humanity" without proper safeguards. It has also said any failure to develop the most advanced models "could adversely affect our business".
