Anthropic’s $1.4T IPO is Finally Here Mitchell Duran Tue, November 10, 2026 at 3:59 PM EST 3 min read ANTH.PVT NVDA -5.17% GS +0.44% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
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At a time when distrust and fear in the AI sector seem to be growing, Anthropic, the company behind Claude, launched its roadshow for its proposed IPO Tuesday morning. Shares under the ticker "ANT" are set to begin trading on November 19.
The company is currently valued at around $1.4 trillion and plans to offer 825 million Class A shares priced at $70–$78.
Morgan Stanley is the syndicate trading manager, Goldman Sachs is the settlement agent and 20 other banks are on the cover. A list this long is clearly aimed at distribution, as a deal this big needs as many buyers as possible.
About 97% (801.35 million shares) are being offered to the public by Anthropic, while the remaining 3% (23.65 million shares) are being sold by existing stockholders.
The striking feature of Anthropic's offering is its size: at the proposed range, it implies gross proceeds of $57.75 billion to $64.35 billion. For comparison, Meta (then Facebook) offered 421.23 million shares at $38 each in its 2012 IPO, for a total offering of about $16 billion. The company ultimately raised about $6.84 billion, or roughly 43% of that amount, before fees.
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Anthropic is set to receive 97% of the proceeds, or $56.1 billion to $62.5 billion gross. The remaining 3%, roughly $1.7 billion to $1.8 billion, will go to existing stockholders.
If underwriters fully exercise their 123.75 million-share over-allotment option, Anthropic's proceeds could reach about $72.2 billion at the top of the range.That's a lot of cash for a company that, according to Goldman Sachs, isn't expected to turn free cash flow positive until 2030.
To make it even more obvious that Goldman will say whatever it needs to get this deal across the line, it also projected that Anthropic will make more than $600 billion in revenue by 2030. That's more than seven times its latest ARR of $81 billion as of October 31, 2026, while Amazon is on track for about $830 billion in sales this year and Nvidia's 2027 consensus is about $700 billion. Goldman seems to be betting that token usage will continue to outrun deflation and Anthropic's frontier models will pay a premium. If both those things don't happen, well, Goldman's projections are just that. And let's not forget that Anthropic has committed to spend about $900 billion on computing capacity over the coming years, according to its own filings.
November 19 is right around the corner. And, to be honest, if Anthropic's IPO doesn't catch a massive bid, with a reported 15% to 20% of its IPO shares going to individual investors, how is that going to look for the rest of the AI trade? OpenAI isn't set to IPO until 2027, so this is really it.
If it crashes and burns like SpaceX eventually did, on top of everything going on with Nvidia and with rate hikes likely on the way, caution, at this point, is certainly warranted. Anthropic's $1.4T IPO is Finally Here
