Anthropic Plans Record-Breaking IPO to Raise Over $90 Billion
Anthropic plans to list on the Nasdaq on November 19, seeking a valuation of up to $1.4 trillion through a massive public offering and private placement.
AI developer Anthropic is preparing for a potentially record-breaking initial public offering on the Nasdaq under the ticker ANT, with trading expected to begin November 19. The company plans to sell 825 million Class A shares priced between $70 and $78, which could raise $64.4 billion. Combined with a $26 billion private placement involving tech giants such as Nvidia, Google, and Microsoft, the total capital raise could exceed $90 billion, surpassing the previous record set by SpaceX in June.
Despite reporting a revenue run rate of $81 billion as of October and a 1,200% year-over-year revenue increase, Anthropic faces severe financial pressure. The company reported a net loss of $104 billion in the first nine months of 2026, driven by non-cash charges and nearly $900 billion in future computing infrastructure commitments. To mitigate this dependency, CEO Dario Amodei is using the investor roadshow to pitch plans for developing proprietary chips and data centers.
The listing occurs amid significant AI sector volatility. While Anthropic's offering is reportedly oversubscribed six times, the broader market has been shaken by a post-election sell-off and a leadership crisis at Nvidia, where CEO Jensen Huang resigned following admissions of an affair with a suspected Chinese spy. Anthropic is following a specific listing playbook that includes allocating 20% of shares to retail investors and seeking rapid inclusion in major indexes like the Nasdaq 100 to trigger passive fund demand.
