AI Giant Anthropic Files to Go Public on Nasdaq as 'ANT,' Targeting a Valuation Near $1.4 Trillion
The company behind the Claude chatbot is aiming for one of the biggest tech listings ever, with a debut penciled in for the week of November 19.
Anthropic, the artificial intelligence company behind the Claude chatbot, has filed to go public on the Nasdaq Global Select Market under the ticker ANT, setting up what could be one of the largest technology stock offerings in history.
The company filed its S-1 registration on October 26, and an amended filing set an indicative price range of $70 to $78 per share for 825 million shares, according to CNBC's live coverage of the filing. At the top of that range, the sale would raise roughly $64.4 billion and imply a fully diluted valuation near $1.4 trillion. Twenty-two underwriters are working the deal, led by Goldman Sachs and Morgan Stanley.
Not every estimate lines up. Yahoo Finance reported that some analyses put Anthropic's valuation closer to $917 billion to $1.02 trillion when counting shares differently, while other estimates have ranged as high as $1.75 trillion — a reminder that even sophisticated investors are still arguing over what an AI lab with no public comparable is actually worth.
Demand Has Cooled, But Only Slightly
The pricing marks a comedown from earlier chatter that pegged Anthropic's IPO as high as a $2 trillion valuation. Still, reported demand for the offering has run at roughly six times the shares available, and the number represents a sharp jump from Anthropic's last private fundraising round — a $65 billion raise in May 2026 that valued the company at $965 billion post-money.
EVEN AT THE DISCOUNTED RANGE, ANTHROPIC WOULD DEBUT AS ONE OF THE MOST VALUABLE COMPANIES EVER TO GO PUBLIC.
The offering arrives as Wall Street's appetite for AI-adjacent bets has gotten choppier. The listing is widely expected to price and begin trading around November 19 or 20, though neither the exact date nor the final share price had been locked in as of this filing. Anthropic has not publicly commented beyond its regulatory filings.
A successful debut near the top of the range would make Anthropic's IPO a bellwether for whether investors are still willing to pay historic multiples for AI labs, even as financing concerns swirl around the broader sector following a volatile stretch for chip and AI-infrastructure stocks this month.