Anthropic has begun pitching its stock to institutional investors, opening the roadshow for a Nasdaq listing on 10 November. The offering is 825 million shares at $70 to $78 apiece, which would raise up to $64.35 billion if the shares price at the top of that range.
All seven co-founders are selling alongside the company. Each is putting up 3,378,378 shares, worth roughly $236 million to $264 million depending on the final price, and about 23 million shares in total. Afterwards each keeps around 3.2% of the Class A stock, about 22% together, while one supervoting Class F share apiece gives the group 51.1% of the votes. Board member Reed Hastings has asked to buy $300 million of shares through his donor-advised fund.
Portrait of Jared Kaplan, Anthropic co-founder and chief science officer, one of seven founders selling shares
Image: TechCrunch
Seven suppliers, Nvidia, AMD, Broadcom, Google, Micron, Microsoft and TSMC, are buying $26 billion of stock in a private placement. The updated filing shows $17 billion of revenue last quarter against a $536 million operating loss, and revenue for the first nine months of the year is about seven times the whole of 2025. Goldman Sachs is reported to expect about $52 billion this year.
About Anthropic
Anthropic was founded in 2021 by seven former OpenAI staff, among them siblings Dario and Daniela Amodei, after disagreements over how AI should be built.
It filed confidentially for an IPO on 1 June 2026 and publicly in late October, when Renaissance Capital estimated a raise of about $75 billion. In May 2026 it had raised $65 billion at a $965 billion valuation, passing the $852 billion OpenAI was valued at in March. Its finances have moved fast: it posted a net loss of nearly $42 billion in 2025, up from $8.3 billion the year before, while second-quarter sales in 2026 passed $11.5 billion against $787 million a year earlier.
2021
Founded
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Models on AIPopDB
Pricing is expected on 18 November, with trading under the ticker ANT. At the top of the range the listing could value the company near $1.4 trillion. The range is unusually wide, and hot offerings often price above their range. Underwriters have 30 days to buy extra shares.
Sources · 2