Anthropic has put a price on its stock market debut: the Claude maker plans to sell roughly 867 million new shares at $70 to $80 each, raising as much as $69.3 billion in what would rank among the largest initial public offerings on record, according to a filing seen by Reuters. Why it matters: after weeks of guessing about Anthropic’s valuation, the market now has real terms to judge — and the final price will be the clearest test yet of investor appetite for AI after last week’s selloff.
November 9, 2026 — Tested Intelligence News Desk
What happened
Reuters reported late Monday that Anthropic is aiming to raise up to $69.3 billion through its IPO, based on a copy of a filing the news agency saw on Monday. The company plans to issue about 867 million new Class A shares at a price range of $70 to $80 per share. At the top of that range, the offering alone would fall just short of the roughly $75 billion record SpaceX set with its own debut in June.
Alongside the public offering, seven of the biggest names in technology — Google, Nvidia, AMD, Broadcom, Micron, Microsoft and TSMC — will invest a combined $26 billion through a private placement priced at the IPO price. Counting both pieces, the total raise would land between roughly $87 billion and $95 billion, which would exceed SpaceX’s record. Shares are expected to trade on the Nasdaq under the ticker ANT, possibly as soon as Thursday or Friday of next week, according to the Wall Street Journal. Goldman Sachs and Morgan Stanley are leading the deal.
The details worth noticing
The anchor investor list is the unusual part. Every company in the $26 billion placement sells chips, memory or cloud capacity to AI developers — which makes them Anthropic’s suppliers as well as its shareholders. That structure locks in demand before the roadshow finishes and makes a weak debut less likely, but it also feeds the ongoing debate about circular financing in AI, where the companies funding the boom are the same ones being paid to build it.
One number is still missing: the implied valuation. The filing Reuters saw did not disclose the total share count after the offering, so the company’s market value at pricing cannot be calculated from it yet. Bloomberg has reported that potential investors were discussing a valuation range of $1.1 trillion to $1.3 trillion, and the Journal reported that some large investors had pushed for a valuation below the roughly $1.5 trillion figure previously expected.
Why it matters
This pricing lands a week after a sharp AI selloff in which the Nasdaq Composite shed about $2.5 trillion in value following the US midterm elections. Anthropic filed its public prospectus on October 26, disclosing $16.3 billion in revenue for the first half of 2026 — growth almost no company its size has ever posted — and it set these terms on the same day it launched Claude Fable 5.2 and Mythos 5.2, its newest frontier models. For anyone who uses Claude or builds on it, a successful raise of this size funds the compute build-out those models depend on. For everyone else, the final price — top of the range or bottom — will set the benchmark every other AI company is measured against.
Frequently asked questions
How much is Anthropic trying to raise in its IPO?
Up to $69.3 billion from the public offering of about 867 million new shares at $70 to $80 each, plus a further $26 billion private placement from seven technology companies at the same price — roughly $87 billion to $95 billion combined.
When will Anthropic stock start trading, and under what ticker?
The shares are expected to list on the Nasdaq under the ticker ANT, possibly as soon as Thursday or Friday of next week, according to the Wall Street Journal. The final price has not yet been set.
What is Anthropic’s valuation in the IPO?
It has not been disclosed. The filing seen by Reuters did not include the post-offering share count needed to calculate it; Bloomberg reported investors discussing a range of $1.1 trillion to $1.3 trillion.
Sources: Reuters, Bloomberg News, The Wall Street Journal (via Investing.com / InvestingLive reporting on the filing).