Anthropic, the artificial intelligence company behind the Claude chatbot, has set a price range of $70 to $78 a share for its stock market debut, in what could become one of the largest initial public offerings (IPOs) in history.

The San Francisco-based company plans to offer 825 million Class A shares, according to an amended filing with the US Securities and Exchange Commission (SEC) on Tuesday, 10 November. At the top of the price range, the offering would raise about $64.35 billion.

01. What the filing shows

Anthropic is offering 801.4 million shares, while existing shareholders are selling 23.6 million shares. At the top of the range, the company would be valued at up to $1.4 trillion on a fully diluted basis, according to CNBC, or about $1 trillion based on shares outstanding.

The shares are set to trade on the Nasdaq Global Select Market under the ticker symbol “ANT”. CNBC reported, citing people familiar with the plans, that Anthropic expects to price the offering on 18 November and begin trading on 19 November. Those dates are reported, not stated in the filing.

02. Big Tech backs the listing

Alongside the IPO, Anthropic has agreed to privately sell $26 billion of a separate class of stock at the IPO price to AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC, with Google and Nvidia each investing $10 billion.

Goldman Sachs and Morgan Stanley are leading the offering alongside 20 other banks as underwriters.

03. Rapid growth, steep costs

The filing also shows the scale of Anthropic’s business. Its revenue exceeded $16 billion in the first six months of 2026, a fourteenfold increase on the same period last year, driven by heavy spending from Big Tech on AI.

Anthropic first filed its IPO papers publicly on 26 October. If completed at the top of the range, the listing would come close to the record $86 billion raised by SpaceX in its IPO in June.

04. Key facts

  • Price range: $70 to $78 per share
  • Shares on offer: 825 million Class A shares
  • Amount to be raised: Up to $64.35 billion
  • Listing: Nasdaq Global Select Market, ticker “ANT”
  • Reported dates: Pricing 18 November, trading from 19 November
  • Private placement: $26 billion from AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC

Sources: SEC filing (S-1/A), CNBC, News18, The Japan Times.