Anthropic launches IPO roadshow: $70-$78 per share, ticker ANT
Anthropic launched the roadshow for its proposed initial public offering on November 10, 2026, and for the first time published the terms: 825,000,000 shares of Class A common stock at an expected price of $70.00 to $78.00 per share. The company has applied to list on the Nasdaq Global Select Market under the symbol “ANT”. This replaces the press reports we covered earlier with figures from Anthropic’s own announcement.
What’s new
Everything below is from Anthropic’s announcement unless stated otherwise.
- Shares offered: 825,000,000 Class A shares in total. Of these, 801,351,354 are offered by Anthropic and 23,648,646 by certain existing stockholders.
- Price range: expected between $70.00 and $78.00 per share.
- Listing: Anthropic has applied to list on the Nasdaq Global Select Market as “ANT”.
- Underwriter option: underwriters get a 30-day option to buy up to an additional 123,750,000 Class A shares.
- Proceeds: Anthropic will not receive any proceeds from the shares sold by the selling stockholders.
- Status: a registration statement has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. The shares cannot be sold, and offers to buy cannot be accepted, until it does.
- Prospectus: the preliminary prospectus is available from Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC, which are named in the announcement.
The announcement does not state a company valuation, an expected pricing date or a first trading day. Anything on those points is still press reporting, not Anthropic’s word.
What the numbers add up to
These are our own arithmetic on the figures above, not numbers Anthropic published. At the range’s ends, 825 million shares come to roughly $57.8 billion at $70 and $64.4 billion at $78 before any underwriter option and before fees. Only the 801,351,354 shares sold by Anthropic bring money to the company, so its share of that is smaller. The 123,750,000-share option equals 15% of the base offering.
What it means for developers
An IPO does not change the Claude API, its models or its pricing today. The announcement says nothing about products. The practical points are about the vendor you build on:
- Disclosure: once Anthropic is listed, it would publish regular financial reports. The preliminary prospectus is the first place to look for how the business describes its costs and risks.
- Timing: nothing is tradable until the registration statement is effective. Do not read the price range as a final price.
- Vendor planning: if you ship products on Claude, keep your model calls behind a thin abstraction so you can switch models if terms change. Our post on Claude Fable 5.2 and Mythos 5.2 covers the latest models available now.
How it compares
Before this announcement, the reporting was about a valuation target and timing. Our earlier post on Anthropic’s reported IPO plans covers the Wall Street Journal’s account, relayed by TechCrunch, that the range would be set this week. Today’s release is the first official set of terms. For another data point in the same market, see OpenAI’s reported $1.25 trillion valuation, a private-market figure and not directly comparable to a public offering price.