Reported News
Anthropic sets IPO range at $70 to $78 a share for 825 million shares and launches its roadshow
Anthropic, PBC filed Amendment No. 2 to its Form S-1 on November 10, 2026 and launched its IPO roadshow the same day; the filing says "It is currently estimated that the initial public offering price per share will be between $70.00 and $78.00" for 825,000,000 Class A shares to be listed on Nasdaq as ANT.
- Changes reported
- 6
- listed below, each from a source we read
- We tested
- Not tested yet
- reported from sources; we did not run it ourselves
- Gaps we flag
- 5
- things we could not verify
- Sources
- 3
- 3 primary, linked below
What changed
| # | What the source says | Status |
|---|---|---|
| 01 | Anthropic, PBC filed Amendment No. 2 to its Form S-1 on November 10, 2026 (accession 0001628280-26-072484), and its newsroom says it launched the roadshow for the proposed IPO the same day. The registration statement is still not effective. | Reported |
| 02 | The estimated price range is $70.00 to $78.00 per Class A share, blank in both earlier filings; the amendment uses $74.00 as the assumed midpoint for its pro forma figures. | Reported |
| 03 | The offering is 825,000,000 Class A shares: 801,351,354 sold by Anthropic and 23,648,646 by selling stockholders, plus an underwriters' option for up to 123,750,000 more shares from Anthropic. | Reported |
| 04 | A new concurrent private placement: Google, NVIDIA, AMD, Broadcom, Micron, Microsoft and TSMC Partners agreed to buy an aggregate of $26.0 billion of Class N common stock at the IPO price; at the midpoint, Google and NVIDIA would each buy 135,135,135 shares for about $10.0 billion. | Reported |
| 05 | Estimated net proceeds from the IPO and placement are about $84.6 billion at the midpoint ($93.7 billion with the option). Shares outstanding afterward total 13,086,672,593; at $74.00 that is roughly $968 billion, our arithmetic, not a valuation in the filing. | Reported |
| 06 | Run-Rate Revenue, blank in Amendment No. 1, is now approximately $81 billion as of October 31, 2026, up $10 billion from September 30, 2026. That is Anthropic's own annualized metric, not GAAP revenue. | Reported |
reported by the sourcemeasured or run by usnot verified
Primary source: Anthropic, PBC Form S-1/A, Amendment No. 2 (SEC EDGAR). We are the fast, independent index; the vendor’s own page is the source of record for this release.
In the source’s words
“It is currently estimated that the initial public offering price per share will be between $70.00 and $78.00”
“our Run-Rate Revenue was approximately $81 billion as of October 31, 2026, up $10 billion from September 30, 2026”
“Today Anthropic, PBC launched the roadshow for its proposed initial public offering of its Class A common stock.”
What we have not verified
- This is still a preliminary prospectus: the final offering price, underwriting discount, prospectus date and delivery date are blank, and the final price can fall outside the estimated range.
- The pricing date and first trading day are not stated in the filing or the announcement; any specific date in press coverage is reported, not confirmed.
- The roughly $968 billion figure is simple multiplication of the filing's post-offering share count by the $74.00 midpoint. It is not a market value and ignores options, RSUs and other dilution the filing describes separately.
- Run-Rate Revenue and other operating metrics are Anthropic's own and, as the filing says, have not been independently verified. We read the cover, The Offering, Business and Shares Eligible for Future Sale sections, not every page.
- Nothing here is investment advice.
This brief is Reported: written from the sources below, not from running the release ourselves.
Sources
- Anthropic, PBC Form S-1/A, Amendment No. 2 (SEC EDGAR)primary source · fetched 2026-11-10
- Anthropic: launches roadshow for proposed initial public offeringprimary source · fetched 2026-11-10
- SEC EDGAR filing list for Anthropic, PBC (CIK 2130357)primary source · fetched 2026-11-10
Related
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