Artificial intelligence company Anthropic is seeking a valuation of up to $1.4 trillion in one of the largest anticipated initial public offerings in history, with plans to begin trading on the Nasdaq later this month under the ticker symbol ANT.
According to an updated filing with the U.S. Securities and Exchange Commission dated November 10, the company plans to offer 825 million shares at a price ranging from $70 to $78 each. The proposed pricing would value Anthropic at approximately $1.26 trillion to $1.41 trillion on a fully diluted basis, reflecting growing investor interest in artificial intelligence despite recent volatility in technology stocks.
At the upper end of the proposed range, the public offering would raise approximately $64.35 billion. Anthropic is also pursuing a $26 billion private placement involving major technology companies, alongside an underwriter over-allotment option worth approximately $9.7 billion. Combined, these transactions could generate nearly $100 billion in proceeds.
Seven major technology and semiconductor companies, including Google, Nvidia, Microsoft, AMD, Broadcom, Micron and TSMC, have reportedly agreed to participate in the private placement by purchasing nonvoting Class N shares at the IPO price. Their involvement highlights the extensive financial relationships developing between leading artificial intelligence companies and the technology firms supplying their computing infrastructure.
Anthropic also intends to reserve approximately 20% of its public offering shares for retail investors through brokerage platforms including Robinhood, Charles Schwab and SoFi. The offering is expected to be priced on November 18, with trading potentially beginning on November 19 or 20.
The proposed valuation represents a substantial increase from Anthropic’s reported $965 billion private valuation in May 2026. However, it remains below earlier expectations that placed the company’s potential market value between $1.5 trillion and $2 trillion. The reduced target follows a broader technology sector sell-off and growing investor concerns about infrastructure costs and possible regulatory changes affecting data centres.
Anthropic’s financial disclosures illustrate both the rapid expansion and substantial expenses associated with developing advanced artificial intelligence systems. Revenue reportedly increased by 1,206% to $33.2 billion during the first nine months of 2026, driven by demand for its Claude AI models and enterprise services.
Despite the revenue surge, the company reported an operating loss of $1.3 billion and a net loss of approximately $104 billion over the same period, reflecting significant financial pressures associated with computing infrastructure, model development and other expenditures.
If completed as planned, Anthropic’s market debut would make it the first major standalone frontier artificial intelligence laboratory to enter the public markets. Its proposed valuation would also rank among the largest IPO valuations in history, following SpaceX’s reported public listing in June 2026.
The offering is expected to serve as a major test of investor confidence in the commercial prospects of generative artificial intelligence, particularly as companies face increasing pressure to demonstrate that rapid revenue growth can translate into sustainable profitability.
