Anthropic (ANTH.PVT) is seeking a valuation of approximately $1.4 trillion in its highly anticipated IPO, setting the stage for one of the biggest public market debuts during the AI boom. The AI developer said in a filing updated Tuesday that it plans to sell 825 million shares at $70 to $78 each. At the top of that range, the IPO would generate up to $64.35 billion in proceeds. On a fully diluted basis, which includes employee stock options and other securities, the frontier AI lab could be valued between about $1.3 trillion and $1.45 trillion. That would mark a substantial increase from the $965 billion valuation Anthropic announced in a funding round in May, but would be well below recent Wall Street estimates, which hit $2 trillion in early October. Read more: Everything you need to know before Anthropic’s IPO In addition to the public offering, Anthropic is securing an additional $26 billion from the biggest tech heavyweights, including Nvidia (NVDA), Microsoft (MSFT), Google (GOOGL), TSMC (TSM), Broadcom (AVGO), AMD (AMD), and Micron (MU). Those companies are purchasing non-voting Class N shares at the same price that public investors will pay. Because this is a private deal, those tech giants won’t face the standard six-month lockup period that typically prevents insiders from selling immediately after debut. Anthropic plans to list on the Nasdaq under the symbol “ANT.” The stock is expected to begin trading on Thursday, November 19 or Friday, November 20 of next week, according to The Wall Street Journal. The IPO comes at a time when investors have become more cautious about the huge valuations associated with artificial intelligence companies. Anthropic will also debut against a backdrop of growing political resistance to building data centers and other infrastructure needed to support AI. The company’s public debut would come after SpaceX’s (SPCX) record-breaking IPO earlier this year. SpaceX raised $85.7 billion in its offering and the company now has a market capitalization of $1.9 trillion. Anthropic CEO Dario Amodei founded the company in 2021 along with a group of former OpenAI researchers. The startup has since become a cutting-edge AI lab and competitor to OpenAI. Anthropic recently revealed that revenue grew $1,206% to $33.2 billion during the first nine months of the year. The company also noted a staggering total committed spend of $895.4 billion, which it says is primarily related to IT and infrastructure. But the AI growth story was put to the test last week as investors weighed a Democratic victory in Congress against the impact of AI data center construction. The market turmoil led potential buyers to discuss lowering Anthropic’s valuation to a range of $1.2 trillion to $1.3 trillion, with some considering as low as $1.1 trillion, according to Bloomberg. Anthropic co-founder and CEO Dario Amodei speaks at the Dreamforce 2026 summit in San Francisco, California, U.S., September 15, 2026. REUTERS/Carlos Barria · Reuters / REUTERS
