Anthropic launches IPO roadshow, sets $70-78 share price range for Nasdaq listing under 'ANT'

Artificial intelligence company Anthropic has formally started marketing its proposed initial public offering, setting an expected price range of $70 to $78 per share and confirming that it has applied to list on the Nasdaq Global Select Market under the ticker symbol ANT.

The offering in numbers

According to the company's announcement on 10 November, the offering comprises 825 million Class A shares. Of these, about 801.4 million are new shares issued by Anthropic, while roughly 23.6 million are being sold by existing shareholders, whose proceeds will not go to the company. Underwriters are expected to get a 30-day option to buy up to 123.75 million additional shares. Goldman Sachs and Morgan Stanley are named as the contacts for the preliminary prospectus.

At the top of the range, the base offering would raise about $64.4 billion. Fortune reported that the range values the company at up to $1.4 trillion on a fully diluted basis, below the roughly $2 trillion figure that had been floated in earlier reports. Citing CNBC, a Decrypt report carried by Yahoo Finance said pricing is expected on 18 November, with trading to begin the following day.

Both reports said seven strategic partners that supply computing power, including Google and Nvidia, have agreed to buy a combined $26 billion of non-voting stock at the IPO price.

Revenue growth and governance

Fortune reported that Anthropic's annualised revenue run rate reached about $81 billion at the end of October. The company's filings show a large net loss for the first nine months of 2026, driven mostly by a non-cash charge, according to the Decrypt report.

Anthropic is a public benefit corporation. Reports on the prospectus say a single special share held by an entity owned by its co-founders carries a majority of voting power on most matters, which would make it a controlled company under Nasdaq rules. The prospectus also flags safety risks from using AI to speed up AI research, Fortune noted.

The company stressed that its registration statement with the US Securities and Exchange Commission is not yet effective, so no shares can be sold until it is.

Why it matters for India

Fortune reported that the listing comes amid a sell-off in AI stocks after the US midterm elections, so its reception will be watched as a test of investor appetite for frontier AI firms. For Indian readers, the outcome matters beyond Wall Street: Indian IT services companies, start-ups and enterprises are increasingly building on models from firms such as Anthropic, and the money raised is earmarked largely for computing capacity and infrastructure, which shapes how quickly such tools reach users worldwide.