Anthropic Seeks $1.3 Trillion Valuation in Blockbuster IPO as Claude Maker Heads to Nasdaq

Image: The Anthropic logo via Wikimedia Commons (public domain).

Anthropic, the artificial intelligence company behind the Claude chatbot, is seeking a valuation of about $1.3 trillion in its initial public offering, in what would be one of the largest stock market debuts in history.

Key facts

• Anthropic said in a filing on Tuesday that it plans to sell 825 million shares at $70 to $78 each, according to the Wall Street Journal and CNN.
• At the midpoint of that range, the offering would raise more than $61 billion and value the company at about $1.33 trillion. At the top of the range, it would raise $64.4 billion and be valued at $1.4 trillion.
• The company also plans to raise an additional $26 billion from big investors including Alphabet's Google and Advanced Micro Devices.
• Shares are expected to begin trading on the Nasdaq under the ticker "ANT" next week.
• The targeted valuation is far below the roughly $2 trillion figure that had been discussed months ago.

Background

Anthropic was founded in 2021 by former OpenAI employees, including chief executive Dario Amodei, and its flagship product is Claude, a series of large language models. The company's revenue has grown rapidly: it reported $16.2 billion in revenue for the first half of 2026, up from $1.1 billion in the same period a year earlier, and its run-rate revenue was about $81 billion at the end of October. But losses have also widened sharply, reaching $80.7 billion in the first half of 2026, up from $13 billion a year earlier.

The IPO is seen as a test of investor appetite for artificial intelligence after a sharp sell-off in AI shares. The Nasdaq Composite fell 5.5% on 5 November, entering correction territory, and investors have been repricing AI companies after months of soaring valuations.

Even at the lower valuation, Anthropic's debut would still be among the biggest IPOs ever, though it would fall short of the record $86 billion raised by SpaceX when it floated in June. It would also put Anthropic ahead of rival OpenAI in the race to go public, in another market-moving technology story.

Anthropic is meeting prospective investors this week. The company declined to comment on the exact timing of the listing, and two sources told CNN the date could still move.