Anthropic sets price range of $70 to $78 in upcoming IPO as AI lab marches towards Nasdaq
watch now
Anthropic said it plans to sell 825 million shares in its upcoming initial public offering (IPO) for between $70 and $78 per share. The company announced this in an updated filing on Tuesday. This brings the five-year-old artificial intelligence company one step closer to what could be a historic listing on the Nasdaq stock exchange.
At the highest price of $78 per share, Anthropic could raise up to $64.35 billion from the IPO. The company could be worth as much as $1.405 trillion if all possible shares are counted. That is higher than the $965 billion value it announced during a funding round in May.
As Anthropic's leaders prepare to present the IPO to investors, they must deal with a difficult political situation. Last week's midterm elections resulted in Democrats winning control across Congress. Voters also approved several statewide ballot measures that could slow the building of AI infrastructure. At the same time, investors in public markets have become more doubtful about AI companies. They worry that rising interest rates will make borrowing too expensive for companies that need loans to pay for costly infrastructure.
CNBC reported last week that some Anthropic investors expected the company to be valued lower than people had once thought. Until recently, Anthropic had been aiming for a value of $2 trillion. But shareholders told CNBC that even reaching $1.5 trillion might be difficult. One investor called that value a “stretch.”
If Anthropic joins the Nasdaq this month as planned, it will trade under the symbol “ANT.” Its stock market debut would happen about five months after SpaceX went public in a record-breaking IPO that raised $85.7 billion. Elon Musk's company makes reusable rockets and develops AI. It has a stock market value of just under $2 trillion, close to the value it had when it went public.
Anthropic CEO Dario Amodei started the company in 2021 with a small group of researchers who left OpenAI, which is now its main competitor. Anthropic is best known for its Claude family of AI models. It mainly sells its products and services to businesses.
On Monday, Anthropic announced two new AI models: Claude Fable 5.2 and Claude Mythos 5.2. These are the first advanced AI models, known as “frontier” models, that the company has released since Amodei called for a slower pace of AI development in September. Anthropic said both models went through careful safety tests and checks to make sure they behaved as intended. The company also created new testing methods and tools to monitor the models after their release.
For the nine months ending September 30, Anthropic reported revenue of $33.24 billion. This was about 1,200% higher than its revenue during the same period last year. The company also reported a net loss of $104 billion during those nine months. However, most of this loss came from changes in the estimated value of convertible notes and financial contracts called derivative liabilities. The filing said Anthropic lost $25.1 billion during the same nine-month period in 2025.
“Our aim is to help humankind chart a safe course through this technological evolution, open new frontiers of discovery, and bring forth an age of miracles,” Anthropic's co-founders wrote in the prospectus. “Everyone who owns our stock, whether an institution or an individual, becomes part of that effort. We hope you will share our ambition to see it though.”
watch now