Anthropic says it has filed for a proposed initial public offering of 825,000,000 Class A shares and applied to list them on Nasdaq as ANT. The expected price is $70.00 to $78.00 a share. Subject to regulatory clearance, the price is expected November 18, Eastern time, and trading is expected November 19.
Anthropic says it has filed a registration statement with the Securities and Exchange Commission for an initial public offering. The company says it has launched the roadshow for a proposed offering of Class A common stock and applied to list the shares on the Nasdaq Global Select Market under the symbol ANT.
The proposed offering is 825,000,000 Class A shares. Anthropic says 801,351,354 of those shares are offered by the company and 23,648,646 by existing stockholders. It says it will not receive proceeds from the stockholders' shares. It expects to grant the underwriters a 30-day option to buy up to 123,750,000 more shares. The expected price is $70.00 to $78.00 a share.
The price and the first trading day are expected dates. Subject to regulatory clearance, Anthropic says the final IPO share price is expected to be set on November 18, Eastern time, and that shares are expected to begin publicly trading on November 19, Eastern time. The company's IPO page says the roadshow starts on November 10, Eastern time. It says the final price is expected to be set from regulatory clearance, investor demand, and market conditions. Anthropic has not stated an offering valuation.
The page names five places to request shares. It lists Charles Schwab, E*TRADE, Fidelity, Robinhood, and SoFi. It says a request goes through a participating brokerage, and that there is no guarantee an investor will receive all or any of the shares requested. Shares bought in the offering would be at the offering price. Shares bought after trading starts would be at the market price then.
Third-quarter revenue was $17.0 billion. Anthropic says third-quarter 2026 revenue was $17.0 billion, more than 12 times revenue a year earlier. The figures are on the company's initial public offering page.
The quarter also shows a $23.3 billion net loss. Anthropic says the net loss includes a $21.9 billion non-cash charge tied to a change in the fair value of convertible notes, derivative liabilities, and SAFEs, after an increase in the company's valuation. Operating margin was negative 3 percent. Adjusted operating margin was 15 percent. The page says the adjusted figure is reconciled to operating margin in the prospectus.
More than 11,900 customers spent at least $100,000. Anthropic says that count, on a trailing-twelve-month basis, was as of September 30, 2026. It was more than 12 times the year-earlier figure.
Compute efficiency is more than four times the first-quarter 2025 level. The company says the measure is third-quarter 2026 revenue divided by compute and infrastructure expenses, compared with the same ratio in the first quarter of 2025.
The registration statement is not yet effective. Anthropic's newsroom says the filing is a registration statement that has not yet become effective. It says the shares may not be sold, and that offers to buy may not be accepted, until that statement becomes effective.
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Three investors told The Wall Street Journal Anthropic's IPO valuation will likely need to come down, with one saying closer to $1 trillion, the Journal reported, per AFP. The company had been aiming for about $1.5 trillion and a week-of-Nov. 16 debut, and has not confirmed a date.
CNBC: Sources indicate Anthropic will hand third-quarter results to institutional investors during a Wednesday session while preparing for a possible record IPO that could value the firm at $2 trillion.
Anthropic's IPO prospectus warns its AI work could raise catastrophic risks to humanity while reporting a $42 billion net loss on $4.6 billion revenue. The filing also details plans for a founder-controlled LLC to retain 50.1 percent voting power post-IPO.
Claude Meetings is rolling out in a beta on Team and Enterprise plans. It joins a Google Meet call as a visible participant, takes notes, and can build docs and whiteboards during the call.
Anthropic says self-hosted Claude Managed Agents is in private beta. The harness, sandboxes, credentials, and session history can run in a customer's own cloud or on-premise. Model requests can go to Anthropic, a cloud provider, or the customer's own gateway.
