Anthropic, PBC began marketing its initial public offering Tuesday with a proposed $70-to-$78 share price, setting terms for a base sale that could raise $64.35 billion before fees.
The base offering covers 825 million Class A shares. Anthropic is selling 801,351,354 shares, while existing stockholders are offering 23,648,646. At $78 a share, the full base sale would total $64.35 billion before fees, including stockholder shares; Anthropic says it will receive no proceeds from that portion. Underwriters may purchase up to 123,750,000 additional shares through an option that runs for 30 days.
The SEC filing outlines a separate, conditional $26 billion private placement to seven purchasers, available after completion of the IPO. The filing also says Anthropic expects retail investors in the United States and other countries to receive up to 20% of the public offering’s shares, with the final allocation dependent on demand. The placement is separate from the public share sale.
Anthropic has applied to list its Class A shares on the Nasdaq Global Select Market under ticker ANT. Its Nov. 10 announcement and SEC filing do not set a price or first-trading date. Bloomberg News has reported a debut is expected before the U.S. Thanksgiving holiday, but Anthropic has not confirmed that timing.
Anthropic plans to use IPO proceeds for operating expenses, compute infrastructure and hiring as it seeks greater financial flexibility. For the nine months ended Sept. 30, 2026, the company reported revenue of $33.242 billion and compute and infrastructure expenses of $18.808 billion.
Separately, Bloomberg News reported that Anthropic co-founder and CEO Dario Amodei and JPMorgan Chase & Co. CEO Jamie Dimon are expected to discuss the IPO in a livestream Nov. 13, around lunchtime ET in New York. Bloomberg attributed the plan to a person familiar with the arrangements. Neither company has confirmed the event in public materials; EconoTimes previously summarized the report in its coverage of Anthropic’s IPO filing.
