# Anthropic sets IPO range at $70 to $78 a share for 825 million shares and launches its roadshow

Canonical: https://theagenticweekly.com/news/anthropic-ipo-price-range-70-78-roadshow · Evidence: Reported · First seen: 2026-11-10 11:42 UTC · Source published: 2026-11-10 11:29 UTC · Brief published: 2026-11-10 12:03 UTC · Updated: 2026-11-10 12:03 UTC · Author: Agentic Weekly

> 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.

## What changed

- 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.
- 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.
- 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.
- 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.
- 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.
- 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.

## 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"
> (Anthropic, PBC, Form S-1/A Amendment No. 2, cover page, https://www.sec.gov/Archives/edgar/data/2130357/000162828026072484/anthropicpbc-sx1ax2.htm)

> "our Run-Rate Revenue was approximately $81 billion as of October 31, 2026, up $10 billion from September 30, 2026"
> (Anthropic, PBC, Form S-1/A Amendment No. 2, Business, https://www.sec.gov/Archives/edgar/data/2130357/000162828026072484/anthropicpbc-sx1ax2.htm)

> "Today Anthropic, PBC launched the roadshow for its proposed initial public offering of its Class A common stock."
> (Anthropic announcement, November 10, 2026, https://www.anthropic.com/news/roadshow-launch)

## 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.

## Timeline

- Source published: 2026-11-10 11:29 UTC
- First seen by our watcher: 2026-11-10 11:42 UTC (via SEC EDGAR filing check for Anthropic, PBC (CIK 2130357) and Anthropic's newsroom; primary sources are the S-1/A on EDGAR and Anthropic's announcement)
- Brief published: 2026-11-10 12:03 UTC

## Sources

- [Anthropic, PBC Form S-1/A, Amendment No. 2 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/2130357/000162828026072484/anthropicpbc-sx1ax2.htm) (primary source) (fetched 2026-11-10)
- [Anthropic: launches roadshow for proposed initial public offering](https://www.anthropic.com/news/roadshow-launch) (primary source) (fetched 2026-11-10)
- [SEC EDGAR filing list for Anthropic, PBC (CIK 2130357)](https://data.sec.gov/submissions/CIK0002130357.json) (primary source) (fetched 2026-11-10)

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## How to cite

Agentic Weekly, "Anthropic sets IPO range at $70 to $78 a share for 825 million shares and launches its roadshow", published 2026-11-10 12:03 UTC, https://theagenticweekly.com/news/anthropic-ipo-price-range-70-78-roadshow