TLDR
- Anthropic plans to sell 825 million shares at $70 to $78 each.
- Up to 20% of the offering could go to retail investors.
- Pricing is expected November 18, with trading on November 19.
- Revenue hit $33.2 billion in nine months, with a $104 billion net loss.
- Fidelity customers face an expected November 17 deadline to request shares.
Anthropic plans to sell 825 million shares at $70 to $78 each in its initial public offering. Trading could begin as early as November 19, 2026.
WHO'S BUYING THE $26B OF ANTHROPIC STOCK IN THE PRIVATE PLACEMENT
• Google: $10.0B
• Nvidia: $10.0B
• AMD: $2.5B
• Broadcom: $1.0B
• Micron: $1.0B
• Microsoft: $1.0B
• TSMC: $500MAll at the IPO price, per Anthropic's updated SEC filing. pic.twitter.com/Cfqi3dTsDB
— Wall St Engine (@wallstengine) November 10, 2026
At the top of that range, the sale would raise about $64.35 billion. The company would have a fully diluted value of about $1.4 trillion.
Reuters reported that the offering will test investor confidence in artificial intelligence. Worries about technology valuations and infrastructure spending have grown in recent months.
How Retail Investors Can Take Part
Anthropic’s SEC filing says up to 20% of the offering could be allocated to retail investors. The rest would go to other buyers.
Fidelity, Robinhood, Charles Schwab, SoFi and E*TRADE are among the brokerages taking part. Eligible customers can request shares through them.
Fidelity customers must submit an indication of interest before an expected November 17 deadline. A request does not guarantee an allocation if demand is higher than supply.
Investors who miss the offering can buy once trading starts. They would search for the symbol ANT at a brokerage that offers Nasdaq-listed shares.
The opening price could land above or below the $70 to $78 range. Access to IPO allocations also varies by country, so international investors should check with their brokerage.
The offering includes about 801 million new shares and 23.6 million shares sold by existing investors. Anthropic launched its roadshow on November 10.
What the Filing Shows
Anthropic makes Claude, an AI assistant used for coding, research and business automation. Its prospectus says revenue reached $33.2 billion in the first nine months of 2026.
That is growth of about 1,206% from the same period a year earlier. Thousands of enterprise customers generate recurring business for the company.
The company also reported a net loss of about $104 billion over the same nine months. It linked the loss to expansion costs and accounting adjustments.
Anthropic lists large future computing commitments and regulatory uncertainty as risks. It also names competition from OpenAI, Google and other AI developers.
The Motley Fool found that eight of the ten largest IPOs from 1999 to 2023 fell in their first three months of trading. Cerebras and SpaceX also declined after their recent listings.
The $64.35 billion figure does not include a separate $26 billion private investment. That deal involves companies including Google, Nvidia and AMD.
CNBC reported that Anthropic expects to price the offering on November 18. Fidelity’s expected request deadline of November 17 comes first, and all dates remain subject to change.
