Updated 11 November 2026, 06:45 GMT. Anthropic’s amended registration statement, filed with the SEC on 10 November, sets a price range of $70 to $78 per share for 825 million Class A shares, to be listed on the Nasdaq Global Select Market as ANT. CNBC, citing people familiar with the plans, reported that the company expects to price the offering on 18 November and start trading on 19 November. Verdict: the range is on file, but the dates are reported, not filed. The prospectus still leaves the delivery date blank.
Key facts
- Price range: $70.00 to $78.00 per share, according to the cover page of the S-1/A dated 10 November 2026.
- Shares offered: 825,000,000 Class A shares. Anthropic sells 801,351,354 and selling stockholders sell 23,648,646. Anthropic receives nothing from the selling stockholders’ shares (S-1/A).
- Underwriters’ option: up to 123,750,000 additional shares from Anthropic (S-1/A).
- Ticker and exchange: ANT on the Nasdaq Global Select Market (S-1/A).
- Lead banks: Goldman Sachs and Morgan Stanley head a syndicate of 22 banks listed on the filing.
- Reported timetable: pricing 18 November, first trade 19 November (CNBC, citing people familiar with the plans). Not stated in the filing.
- Concurrent private placement: $26.0 billion of non-voting Class N shares to seven strategic buyers at the IPO price (S-1/A).
When is the Anthropic IPO date?
The only firm date in the record is the filing itself: the second amendment to Anthropic’s S-1 was dated 10 November 2026. The company first filed publicly on 26 October and amended the document on 2 November, according to SEC EDGAR. The amended cover now carries a price range, which is normally the step that opens the marketing roadshow.
CNBC reported that Anthropic expects to price the deal on 18 November and begin trading the next day. That timetable comes from unnamed people familiar with the plans. The prospectus says only that the underwriters expect to deliver the shares “on or about” a date that is still blank, and the registration statement cannot become effective until the SEC declares it so. Any slip in the roadshow or in market conditions could move the dates.
Our 9 November page covered the roadshow week before the range was filed, and the desk’s report on the retracted bank document explains why earlier figures circulating on 9 November differ from the filed terms.
How much is Anthropic raising?
At the bottom of the range, the 825 million shares would raise about $57.8 billion in gross proceeds. At the top, about $64.4 billion. Anthropic’s own primary portion of 801.35 million shares comes to about $62.5 billion at $78. These figures are our arithmetic from the share counts on the cover page.
The private placement adds to that. The S-1/A says Google and NVIDIA would each buy about $10.0 billion of Class N stock, AMD about $2.5 billion, Broadcom, Micron and Microsoft about $1.0 billion each, and TSMC about $500 million, all at the IPO price. At the $74 midpoint, the filing puts net proceeds from the IPO and the placement together at about $84.6 billion, or about $93.7 billion if the underwriters’ option is exercised in full.
What valuation does the range imply?
That depends on which share count is used, which is why different outlets quote different numbers for the same filing. The S-1/A shows 7,427,991,791 Class A shares and 5,658,680,800 Class N shares outstanding after the offering and the private placement. Multiplied by the range, that basic count gives about $916 billion at $70 and about $1.02 trillion at $78.
Reports that count options, restricted stock units and other dilutive securities come out higher. Forbes reported a valuation of about $1.3 trillion, and Reuters-based reports put the top of the range at about $1.4 trillion on a fully diluted basis. The filing itself does not state a valuation.
Where the IPO could price
| Scenario | Price per share | Basic market value | Gross IPO proceeds |
|---|---|---|---|
| Bottom of range | $70 | About $916 billion | About $57.8 billion |
| Midpoint | $74 | About $968 billion | About $61.1 billion |
| Top of range | $78 | About $1.02 trillion | About $64.4 billion |
Market values use the 13.09 billion Class A and Class N shares the S-1/A shows outstanding after the offering and the private placement, before the underwriters’ option. They are our calculations, not company figures. A deal can also price below or above the range, and the first trade can differ sharply from the IPO price.
What the filing says about the business
The S-1/A puts Anthropic’s run-rate revenue at about $81 billion as of 31 October 2026, up $10 billion from 30 September. Customers paying $100,000 or more on a trailing twelve-month basis rose from more than 950 a year earlier to more than 11,900 as of 30 September 2026. Revenue from those customers was $24.5 billion in the first nine months of 2026, about 74 percent of the total, according to the filing.
Governance is unusual. Anthropic is a Delaware public benefit corporation, and its Long-Term Benefit Trust holds a single Class T share that lets it elect a majority of the board. Class A shares carry one vote each, Class N shares have no general voting rights, and the company expects to be a “controlled company” under Nasdaq rules. Most existing holders are locked up for up to 180 days, and the co-founders and some larger holders for up to 365 days, subject to early-release provisions described in the filing.
The deal has drawn read-through to suppliers. Our NVIDIA page from 27 October covered the chip rally tied to the IPO, and NVIDIA is now one of the two $10 billion buyers in the private placement.
What to watch before 19 November
- Any further S-1 amendment: a change to the range or share count would show up on SEC EDGAR first.
- Pricing: CNBC’s reported date is 18 November, after the US close.
- First trade: reported for 19 November on Nasdaq under ANT.
- Underwriters’ option: 123.75 million extra shares if demand allows.
- Broker access: retail allocations depend on each broker’s IPO programme; most investors can only buy once the shares trade.
Quick take: Anthropic has filed a $70 to $78 range for 825 million shares under the ticker ANT. CNBC reports pricing on 18 November and trading on 19 November, but the filing itself sets no date. On the basic share count the range values the company at about $916 billion to $1.02 trillion; fully diluted estimates run to about $1.4 trillion.
FAQ
What is the Anthropic IPO date?
CNBC reported that Anthropic plans to price its IPO on 18 November 2026 and begin trading on Nasdaq on 19 November, citing people familiar with the plans. The SEC filing does not yet state a date.
What is the Anthropic IPO price range?
$70 to $78 per share, according to the S-1/A filed on 10 November 2026.
How many shares is Anthropic selling?
825 million Class A shares: 801,351,354 from the company and 23,648,646 from existing stockholders. Underwriters have an option on another 123.75 million shares.
What is the Anthropic stock ticker?
Anthropic has applied to list its Class A shares on the Nasdaq Global Select Market under the symbol ANT.
What valuation does the range imply?
On the basic share count in the filing, about $916 billion at $70 and about $1.02 trillion at $78. Fully diluted estimates reported by Forbes and Reuters are about $1.3 trillion to $1.4 trillion.
Who is leading the Anthropic IPO?
Goldman Sachs and Morgan Stanley lead the syndicate, with J.P. Morgan, Citigroup, Barclays, Wells Fargo and other banks also named in the filing.
Can retail investors buy Anthropic shares at the IPO price?
Only through brokers that receive an allocation and offer it to clients. Most retail investors will be able to buy once the shares start trading on Nasdaq.
Sources: Anthropic, PBC Form S-1/A (Amendment No. 2), dated 10 November 2026, SEC EDGAR CIK 2130357 (price range, share counts, underwriters’ option, private placement, shares outstanding, run-rate revenue, governance, lock-ups); CNBC, 10 November 2026 (reported pricing and trading dates); Forbes and Reuters-based reports, 10 November 2026 (fully diluted valuation estimates). Proceeds and market values are FinanceFeeds calculations from the filing’s share counts.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. IPO shares can be highly volatile, and the final price, timing and terms may change. Do your own research and consult a licensed financial adviser before making investment decisions.
