Anthropic Launches Roadshow for Its Huge IPO as Claude Maker Prepares to List on Nasdaq

By Sarah Collins | November 12, 2026

Anthropic, the artificial intelligence company behind the Claude assistant, launched the roadshow for its proposed initial public offering on November 10, 2026, in what could become one of the largest technology listings in history.

The company plans to sell 825 million shares of Class A common stock at $70 to $78 each, according to an amended filing with the US Securities and Exchange Commission. That would raise up to $64.35 billion, and the shares would list on the Nasdaq Global Select Market under the ticker ANT.

At the top of the price range, the company would be valued at about $1.02 trillion. On a fully diluted basis, which counts shares that could be issued in the future, the valuation could reach about $1.4 trillion. Reports in recent weeks have discussed a range of valuations, from about $1.2 trillion to $1.5 trillion, and earlier reports had discussed figures as high as $2 trillion. The final price has not yet been set, and it can still move depending on demand from large investors.

What Anthropic has actually filed

Anthropic confidentially submitted a draft registration statement on Form S-1 to the SEC on June 1, 2026. It published its preliminary IPO prospectus on October 26, and filed an amended Form S-1/A on November 2 with its third-quarter results. The November 10 filing was the first version to carry a price range, and the roadshow was announced the same day.

A roadshow is the part of an IPO in which a company and its banks meet large investors, present the business, and measure demand before setting a final price. Goldman Sachs and Morgan Stanley are leading a group of 22 banks.

The business behind Claude

Anthropic was founded in 2021 by former OpenAI employees, including Dario Amodei and his sister Daniela Amodei. It is a Delaware public benefit corporation, which means its charter carries a stated public purpose alongside the aim of making a profit.

The company sells access to its Claude models and to the products built on them, including Claude Code for software development, Claude Cowork, and Claude Enterprise for businesses. Claude is increasingly used by companies for software development, research and everyday operations.

Revenue for the first nine months of 2026 reached $33.24 billion, against $2.55 billion a year earlier, according to figures from the amended filing. For the three months ended September 30, 2026, the company reported revenue of $17.0 billion. Its latest private valuation was about $965 billion in May 2026, so the IPO valuation under discussion would be a large increase in less than six months.

A $26 billion side deal

Seven of the biggest names in chips and cloud computing have agreed to buy another $26 billion of Anthropic stock at the IPO price in a separate private placement. The companies are Advanced Micro Devices, Broadcom, Google, Micron Technology, Microsoft, Nvidia and TSMC Partners.

That agreement is separate from the public offering, and it shows how closely Anthropic's future is tied to the suppliers it depends on for computing power.

Sources: Anthropic Form S-1/A, November 2 and November 10, 2026; Reuters via News9; Anthropic roadshow announcement, November 10, 2026. IPO date, final price and valuation are not yet confirmed and are subject to change. This article is not investment advice.