According to a draft prospectus seen by Reuters on November 10, 2026, Anthropic and some of its existing shareholders plan to offer 825 million shares at an indicative price ranging between $70 and $78 per share.

The shares are expected to begin trading on the Nasdaq stock exchange on November 19 under the ticker symbol "ANT".

In addition to the public offering, Anthropic plans to raise $26 billion through a separate private placement involving major investors, including Alphabet's Google, Nvidia and Advanced Micro Devices (AMD).

Other participating investors include Broadcom, Micron Technology, Microsoft and Taiwan Semiconductor Manufacturing Company (TSMC). Combined with the public offering, the two transactions could generate up to $90.4 billion.

The proposed listing comes amid growing interest in artificial intelligence companies, which have attracted significant investment as businesses increasingly adopt AI-powered technologies.

At the upper end of its proposed share price, Anthropic would be valued at approximately $1.4 trillion on a fully diluted basis, which includes stock options and restricted shares.

Its valuation would be about $1 trillion when these securities are excluded.

However, the company has adjusted its expectations following changes in market conditions.

Earlier preliminary terms circulated to investment banks indicated that the IPO could raise as much as $69.3 billion, before the updated prospectus introduced a lower price range and reduced fundraising target.

Varun Datta, a venture capitalist and founder of Truth Ventures, cautioned that the proposed valuation already reflects considerable expectations about the company's future performance.

"At this valuation, much of that success is already reflected in the price," he said.

Despite the ambitious fundraising plans, Anthropic faces concerns over the sustainability of heavy investment in artificial intelligence, particularly the ability of companies to generate sufficient returns to justify their spending.

The company's rapid expansion has been driven by increasing demand for its Claude models.

According to its IPO filing, Anthropic's run-rate revenue reached approximately $81 billion as of October 31, 2026, representing an increase of $10 billion from September.

However, the company also has nearly $900 billion in computing commitments with partners, including Amazon and Google, highlighting the enormous infrastructure requirements supporting its growth.

Founded in 2021 and led by Chief Executive Officer Dario Amodei, Anthropic's proposed listing is among the most closely watched technology offerings, with investors also monitoring rival OpenAI's potential move towards an IPO.