AI Firm Anthropic Launches IPO Roadshow, Offering Shares at $70-$78 with Target Valuation of $1.02 Trillion
Anthropic has officially launched its Nasdaq IPO roadshow, proposing a share price of $70 to $78. The company aims to raise up to $90.4 billion through a combination of public offering and private placement, targeting a $1.02 trillion valuation amidst growing investor skepticism toward AI spending.
US-based artificial intelligence company Anthropic officially launched its Nasdaq IPO roadshow on November 10, 2026. According to the latest disclosed plans, the company intends to offer 825 million Class A common shares at a price between $70 and $78 per share, under the ticker symbol "ANT." The public offering is expected to raise up to $64.4 billion. Combined with a separate $26 billion private placement anchored by major tech firms including Google, Nvidia, and Microsoft, the total share placement volume reaches as much as $90.4 billion. Based on this issuance, Anthropic targets a valuation of approximately $1.02 trillion.
This valuation represents a reduction from the previously discussed $1.5 trillion figure, reflecting institutional investors' cautious stance on AI sector valuations amid the current high-interest-rate environment and market volatility. Despite the resistance, Anthropic remains committed to proceeding with the listing. Financial data shows that the company's Q3 revenue grew 47 percent quarter-over-quarter to $16.96 billion, narrowing its net loss, although growth slowed significantly compared to the prior quarter's 144 percent jump.
The strong enterprise demand, particularly in specialized industries like healthcare, finance, and legal services, supports its high valuation. However, the prospectus also reveals substantial cost pressures: Anthropic has committed nearly $900 billion in compute capacity with partners such as Amazon and Google. Some of this future infrastructure depends on financing outside the company's control, posing a key risk factor as investors increasingly question the sustainability of the AI investment cycle and potential overcapacity in data centers.