Anthropic seeks valuation of about $1.3 trillion when it becomes a
publicly traded company
[November 11, 2026] By
MICHELLE CHAPMAN
Artificial intelligence giant Anthropic is looking for an approximately
$1.3 trillion valuation when it goes public despite new concerns about
the massive amounts debt and money flowing into the sector.
The company behind the Claude chatbot said in a regulatory filing on
Tuesday that it will sell 825 million shares priced between $70 and $78
a share. That would give Anthropic the ability to raise more than $61
billion, if the IPO is priced at the midpoint.
The initial pricing of a company's shares is a complex process. If they
are priced too high, it can send shares skidding on the first day. If
shares are seen as cheap, the company and the banks running the IPO can
leave money on the table.
The San Francisco company is expected to make its Wall Street debut this
month.
Anthropic could be among the biggest initial public offerings of stock
ever, but now seems like it will fall short of eclipsing the record $86
billion raised by SpaceX in its IPO in June. An Anthropic IPO would also
put the company ahead of OpenAI in going public, setting the stage for a
pair of blockbuster stock debuts by rival AI developers.
“For tech and AI, this is the first time a U.S. frontier lab carries a
standalone public market price, uncluttered by an ad business or a
rocket business,” Dan Ives, partner and senior managing director at
Yorkville Ives & Co., wrote.
The IPO could give Anthropic enormous resources to accelerate its
expansion and potentially add billions of dollars to the fortunes of CEO
Dario Amodei and his sister and co-founder, Daniela Amodei.
A regulatory filing last month showed that Anthropic’s revenue is
growing rapidly, reaching more than $16 billion in the first half of the
year — 14 times its revenue from the same period last year. But like
many other tech companies going public, the company has yet to turn a
profit.
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 Formed in 2021 by former OpenAI
leaders, Anthropic is locked in a fight for dominance with that
company. But both companies have plenty of other competitors,
including Google, newer startups in the U.S. and China and SpaceX,
which has an AI business. Anthropic, OpenAI and SpaceX’s AI division
have all lost more money than they've made because of the huge costs
of resources in building AI. That has fueled growing concerns that a
bubble has formed in the AI sector.
There was a brutal sell-off on Wall Street last
week led by stocks in companies tied to the buildout of AI data
centers. Yet shares of AI-related companies have swung wildly for
month, particularly after the U.S. Federal Reserve, which has been
attempting to cool inflation, hiked interest rates in September for
the first time in three years.
Growing anxiety about the cost of borrowing money was heightened
Tuesday after a new inflation reading for the U.S. came in hot,
raising the odds that the Fed will grow more aggressive in its
attempts to cool the economy with larger rate hikes.
Dario Amodei cautioned in September that the AI industry should slow
its fast-moving development to give safety measures time to catch
up. Without such a slowdown, Amodei warned AI could be capable of
letting loose a swarm of agents that could take over the entire
internet within six to 12 months.
He offered a plan in a post on his website to increase checks on the
industry, noting that Anthropic is already undertaking part of this
on its own. As for other steps, though, he said that would require
coordination across the industry and with governments around the
world, including authoritarian ones.
The shares are expected to list on the Nasdaq Global Select Market
under the “ANT” ticker symbol.
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