Anthropic launched the roadshow for its initial public offering on Tuesday, setting a price range of $70 to $78 per share for 825 million Class A shares. At the top of the range the listing would value the Claude maker at roughly $1.4 trillion on a fully diluted basis, below the $2 trillion that was floated just weeks ago before a sharp selloff in AI-related stocks. The offering, one of the largest technology listings on record, would still raise about $57.8 billion at the low end of the range.
The company plans to list on the Nasdaq under the ticker ANT. At $78 a share the offering would raise about $64.4 billion. Seven strategic partners, among them Google, Nvidia and Microsoft, have separately agreed to buy $26 billion of non-voting stock at the IPO price, taking the total size of the deal close to $90 billion.
Reports from CNBC and the Wall Street Journal point to pricing on Nov. 18 with trading starting Nov. 19, though some outlets say the debut could slip to the following week. For founders the listing is a valuation benchmark for the whole sector. Investors now have to decide whether a roughly $1.4 trillion tag still holds after the selloff, and Anthropic's seven co-founders plan to sell about $1.75 billion of stock in the offering.