Anthropic starts IPO roadshow with offering of up to $64.3bn

Key points

• Anthropic is offering 825 million Class A shares at $70 to $78 each, raising $57.8bn to $64.3bn before fees.
• Seven technology partners, including Google, Nvidia and Microsoft, committed to a conditional $26bn private placement after the IPO.
• The company reported $33.2bn in revenue and a $1.3bn operating loss for the first nine months of 2026.

Anthropic began its IPO roadshow on 10 Nov, marketing a proposed sale of 825 million Class A shares that could raise up to $64.3bn before underwriting fees and expenses, Bitcoin.com News reports. The Claude developer expects the shares to price at $70 to $78 each and has applied to list on the Nasdaq Global Select Market under the symbol ANT.

Anthropic would sell 801,351,354 of the shares and existing stockholders 23,648,646. At the $74 midpoint the sale would raise $61bn, of which about $59.3bn would go to the company; the announcement said Anthropic would receive nothing from the selling stockholders' shares. Underwriters hold a 30-day option on up to 123.75 million more shares, which at $78 would lift combined gross proceeds to roughly $74bn.

The company filed a confidential draft with the SEC on 1 June and a public registration statement on 26 Oct. Proceeds are intended for operations, computing infrastructure, hiring and possible acquisitions.

Purchase and lease commitments total about $901bn, mostly for computing and infrastructure, with $70.7bn due within 12 months.

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