Anthropic Targets Nasdaq IPO With Expected Valuation Up to $1.75 Trillion

Anthropic is targeting a Nasdaq debut on Nov. 19 or 20, with an expected IPO valuation of up to $1.75 trillion for the company behind the Claude AI model.

The anticipated valuation range is about $1.1 trillion to $1.75 trillion. The offering could raise $80 billion to $100 billion or more, and the proposed Class A shares would trade under the ticker ANT.

Anthropic filed a registration statement with the Securities and Exchange Commission on Oct. 26 and amended it Nov. 2 to add third-quarter results. The roadshow was expected to begin during the week of Nov. 9, with the listing planned for the week of Nov. 16-20.

Revenue totaled $16.3 billion in the first half of 2026 and about $17 billion in the third quarter, bringing the first nine-month total to roughly $33.2 billion. Anthropic posted an $80.7 billion net loss, primarily tied to noncash adjustments, and had operating-cost commitments nearing $895 billion.

The expected IPO range would top Anthropic’s $965 billion private valuation from May 2026.