Anthropic IPO: Date, Price Range and How to Buy ANT Shares

When is the Anthropic IPO?

The Anthropic IPO is expected to be priced on Wednesday 18 November 2026 and to begin trading on Nasdaq on Thursday 19 November 2026, both in US Eastern time ^[3]. Anthropic's own IPO website, filed with the SEC as a free writing prospectus, says the roadshow began on 10 November and that "subject to regulatory clearance" the final price "is expected to be set on November 18th (EST)" ^[3]. CNBC reported the same two dates on 10 November, citing people familiar with the details ^[7].

The dates are expected, not guaranteed. The registration statement had not yet become effective when the documents were filed, and the SEC must declare it effective before shares can be sold ^[1][3]. In the filings and news reports available on 13 November 2026, no delay had been announced.

How the filing reached this point, all from SEC records ^[1][2]:

• 26 October 2026: Anthropic filed its public Form S-1 registration statement.
• 2 November 2026: Amendment No. 1 was filed.
• 10 November 2026: Amendment No. 2 added the price range and share count, and Anthropic announced the launch of the roadshow ^[1][2].
• 18 November 2026 (expected): pricing. In the European offer, the subscription period is set to end on or about 18 November at 4:00 p.m. CET, which is 10:00 a.m. in New York ^[4].
• 19 November 2026 (expected): first day of trading; brokers confirm allocations that day ^[3].
• 20 November 2026 (expected): delivery of shares in the European offer ^[4].

For readers outside the US: Nasdaq's regular session opens at 9:30 a.m. ET, which is 14:30 UTC, 17:30 in Istanbul and 18:00 in Tehran in November. The exact time ANT starts trading on 19 November has not been announced.

What is the Anthropic IPO price?

The Anthropic IPO price range is $70.00 to $78.00 per Class A share, as filed on 10 November 2026; the final price will be set on the pricing date and can fall outside that range ^[1][3]. Anthropic's IPO website says the final price is "based on regulatory clearance, investor demand and market conditions" ^[3].

The offering terms in Amendment No. 2 ^[1][2]:

• Shares offered: 825,000,000 Class A shares, of which 801,351,354 are sold by Anthropic and 23,648,646 by selling stockholders. Anthropic receives nothing from the selling stockholders' shares ^[2].
• Underwriters' option: a 30-day option to buy up to 123,750,000 more shares ^[2].
• Lead banks: Goldman Sachs and Morgan Stanley act as representatives, with a long syndicate that includes J.P. Morgan, Citigroup, Barclays, Wells Fargo and BofA Securities ^[1].
• Private placement: AMD, Broadcom, Google, Micron, Microsoft, NVIDIA and TSMC Partners agreed to buy $26.0 billion of non-voting Class N stock at the IPO price in a private placement concurrent with the offering ^[1].
• Directors: board members and affiliated entities indicated interest in buying up to $303 million of shares at the IPO price; these indications are not binding ^[1].

Anthropic estimates net proceeds of about $84.6 billion from the IPO shares it sells plus the private placement, at the $74 midpoint, or about $93.7 billion if the option is exercised in full ^[1]. CNBC reported that the offering could raise up to $64.35 billion at the top of the range ^[7]; that equals all 825 million shares at $78, including the selling stockholders' shares.

CNBC also reported, citing people familiar with the process, that the order book was already covered at the $70 to $78 range ^[7]. That is a reported detail; Anthropic has not published order-book figures. Bloomberg News, as carried by Reuters on 12 November, reported that orders were about six times the shares on offer and that Anthropic would prioritise existing backers, so some new buyers might receive smaller allocations than expected; the same report said the details could change and did not report any change to the $70 to $78 range ^[10].

The table below sets out the dates and channels in one place.

What is Anthropic's stock symbol?

Anthropic's stock symbol will be ANT, on the Nasdaq Global Select Market ^[1][3]. The prospectus says Anthropic "applied to list our Class A common stock on the Nasdaq Global Select Market under the symbol 'ANT'" ^[1]. Before 19 November there is no public market for the shares ^[1].

Only Class A shares are offered and listed. Anthropic has several share classes with different rights ^[1]:

• Class A: the listed shares sold in the IPO.
• Class F: held by the Founder LLC, whose members are the seven co-founders; it carries 50.1% of the voting power on general matters, including the election of most directors.
• Class T: held by the Long-Term Benefit Trust, which elects a majority of the board.
• Class E: for employees.
• Class N: no general voting rights; this is what the $26.0 billion private placement buys.

Anthropic says it is a Delaware public benefit corporation whose stated purpose is "the responsible development and maintenance of advanced AI for the long-term benefit of humanity" ^[1]. It also says it is a "controlled company" under Nasdaq rules because the Long-Term Benefit Trust can elect a majority of the board, which lets it opt out of certain Nasdaq governance requirements; the prospectus says it does not expect to rely on that exemption except for its nominating and corporate governance committee ^[1].

Before 19 November there is no listed Anthropic share to buy ^[1]. If an app or website offers a "pre-IPO" product, token or fund named after Anthropic, it is not an ANT share; check what the product actually holds and who issues it before buying.

How can I buy Anthropic IPO shares?

You can request Anthropic IPO shares only through a participating broker in a country where the offer is made, and an allocation is not guaranteed ^[3][4][5]. Anthropic's IPO website says you must have an active account and "submit an indication of interest" through the broker's platform, and that "there is no guarantee that any investor will receive all or any of the shares" ^[3].

United States

The prospectus names Charles Schwab, Fidelity, Robinhood, Trade-PMR, SoFi and E*TRADE from Morgan Stanley as selling-group platforms for retail investors, in addition to allocations made by the underwriters ^[1]. The prospectus says Anthropic currently expects allocations to retail investors, in the US and other countries, to represent up to 20% of the Class A shares offered, depending on demand ^[1]. CNBC reported the target as about 20%, against a typical 5% to 10% ^[7].

United Kingdom

A UK retail offer launched on 10 November through RetailBook, an FCA-authorised platform, via participating intermediaries ^[5]. Depending on the intermediary, orders are placed in US dollars for shares or in pounds for CREST depository interests, and accepted account types include a general investment account, ISA, Lifetime ISA, Junior ISA, SIPP and Junior SIPP ^[5]. You must be resident and physically located in the UK, be a client of a participating intermediary and apply through only one ^[5]. Anthropic's help-centre page lists AJ Bell, eToro, Hargreaves Lansdown, Interactive Brokers, Interactive Investor, Revolut and Robinhood as expected to participate ^[9]. Anthropic may allocate nothing to the UK offer ^[5].

European Economic Area and Switzerland

A prospectus approved by Germany's BaFin covers retail offers in Germany, Denmark, Finland, France, Ireland, the Netherlands, Norway, Spain and Sweden, plus Switzerland ^[4]. Up to 80,135,135 shares are offered at a maximum price of $120; the offer started on 11 November (12 November in Sweden) and ends on or about 18 November at 4:00 p.m. CET ^[4]. Anthropic's help-centre page lists BNP Paribas, Crédit Agricole CIB (and affiliates), Deutsche Bank, eToro, flatexDEGIRO, ING, Interactive Brokers, Nordnet Bank AB, Revolut, Saxo Bank, Scalable Capital, Trade Republic and UBS Investment Bank as expected to participate in the EEA and/or Swiss retail offerings; it does not say which firm serves which country, so check your own broker ^[9].

Japan

A Japanese book-building offering of $3.0 billion to $3.5 billion was filed with the Kanto Regional Finance Bureau and amended on 11 November; brokers include Mizuho, Rakuten Securities, SBI Securities and Mitsubishi UFJ Morgan Stanley ^[6]. Internet applications generally close at 10:00 a.m. or 10:59 a.m. Japan time on 18 November, depending on the broker ^[6].

Other countries

The prospectus lists public offerings in Australia and Canada as well ^[1], and Anthropic's help-centre page names participating brokers there, for example CommSec and Macquarie in Australia and Wealthsimple and RBC Capital Markets in Canada ^[9]. Investors in other countries, including Iran and Turkey, are outside the listed public-offer jurisdictions ^[1]. Anthropic says it has not authorised any other firm or platform to offer or advertise access to the shares in the listed jurisdictions ^[9]. Whether a broker elsewhere can offer ANT once trading starts depends on that broker and on local law and sanctions rules.

How much is Anthropic worth?

At the $70 to $78 range, Anthropic's shares outstanding after the offering and the concurrent private placement would be worth about $916 billion to $1.02 trillion, before counting options and other dilution ^[1]. This is simple arithmetic on the 13,086,672,593 shares of all classes the prospectus says will be outstanding after the offering and the concurrent private placement ^[1]. CNBC reported that on a fully diluted basis the company could be worth up to $1.405 trillion, up from the $965 billion valuation announced in a funding round in May ^[7].

The financial figures from the prospectus and Anthropic's IPO factsheet ^[1][3]:

• Revenue: $41 million in 2023, $386 million in 2024 and $4.59 billion in 2025; $33.24 billion in the first nine months of 2026, against $2.55 billion a year earlier ^[1].
• Third quarter of 2026: $17.0 billion revenue, more than 12 times a year earlier; the prospectus puts the growth at 1,127% ^[1][3].
• Run-rate revenue: about $81 billion as of 31 October 2026. This is Anthropic's own annualised metric, not audited revenue ^[1].
• Losses: a $1.26 billion operating loss and a $104.04 billion net loss for the nine months to 30 September 2026. Most of the net loss, $94.32 billion, came from fair-value changes on convertible notes and similar items, which are non-cash ^[1].
• Customers: more than 11,900 customers paying $100,000 or more over twelve months, as of 30 September 2026 ^[1].
• Spending commitments: about $900.9 billion in purchase and lease commitments, substantially all for compute and infrastructure ^[1].

For comparison, CNBC noted that the SpaceX IPO raised $85.7 billion about five months earlier ^[7]; how that stock traded after listing is covered in SpaceX Stock Price (SPCX): The IPO, Price History and Key Risks. OpenAI, Anthropic's main rival, remains private; its last reported valuation is covered in OpenAI's $1.25 Trillion Valuation: The Facts So Far.

What are the risks of the Anthropic IPO?

The main risks named in the prospectus are heavy losses and spending, founder control, a large number of shares that can be sold later, and the lack of any trading history ^[1]. The Risk Factors section starts on page 29 of the prospectus ^[1].

Points in Anthropic's favour, as disclosed

• Revenue grew from $386 million in 2024 to $33.24 billion in the first nine months of 2026 ^[1].
• The IPO factsheet reports a 15% adjusted operating margin for the third quarter of 2026, against a reported operating margin of minus 3% ^[3].
• Strategic partners committed $26.0 billion through the private placement ^[1].

Risks, as disclosed

• Losses and costs: a $23.3 billion net loss in the third quarter, including a $21.9 billion non-cash charge, and about $900.9 billion of commitments ^[1][3].
• Control: Class F holds 50.1% of the general voting power and the Long-Term Benefit Trust elects a board majority, so Class A buyers have limited influence ^[1].
• Lock-up releases: most existing holders are locked up for up to 180 days, and co-founders and holders of more than 0.5% for up to 365 days; but 3.6 billion shares may become eligible for sale earlier, including up to 10% of employee and director shares from the first trading day ^[1].
• No trading record: the prospectus warns that an active market "may not develop or be sustained" and that the price may be volatile ^[1].
• Sector risk: AI shares can move sharply together, as covered in NVIDIA Stock (NVDA) and Earnings Explained: What Drives the AI Chipmaker.

Nothing here is a recommendation to buy or sell. The prospectus is the document to read first; Anthropic's IPO website says investors "should review the prospectus closely before investing" ^[3].

How do you avoid Anthropic pre-IPO scams?

Treat any offer of Anthropic "pre-IPO shares" by message, social media or cold call as suspect, and use only a registered broker named in Anthropic's official documents ^[3][8][9]. The SEC's investor alert on pre-IPO scams says fraudsters often promote shares in companies tied to new technologies, naming artificial intelligence as an example, and that they solicit victims on social media, by cold calls and by email ^[8].

1. Check the channel. The legitimate routes are the brokers named in the prospectus, the regional documents and Anthropic's help-centre page ^{[1][4][5][6][9]}, or buying ANT on Nasdaq after 19 November.
2. Check the seller. The SEC says to verify that the seller is registered or licensed before investing ^[8]; in the UK, check the FCA register.
3. Be wary of high-return and scarcity pitches. No one can know the first-day price. The SEC says promoters pitch high returns and claim a very limited supply of shares or a price below the expected IPO price ^[8]; Anthropic says no investor is guaranteed any of the shares ^[3].
4. Do not pay outside your broker. Anthropic's IPO website says requests are made through your brokerage account or investing app ^[3]; a request to pay by crypto transfer, gift card or to a private person is not that route.
5. Check links. Anthropic's IPO information is at ipo.anthropic.com ^[3][4]; check the address letter by letter before entering details. Pouyam's guide What Is Phishing? How to Recognise Fake Emails, Texts and QR Codes shows how to spot fake links.

Anthropic makes the Claude models; how Claude compares with rival chatbots is covered in ChatGPT vs Gemini vs Claude in 2026: Models, Prices and Key Differences.

What is confirmed and what is not?

The range, share count, symbol, exchange, regional offers and financial figures are confirmed in SEC filings; the exact pricing and trading dates are expected, and several widely shared details are only reported ^{[1][3][7][10]}. As of 13 November 2026:

• Confirmed in filings: $70 to $78 range; 825 million shares plus a 123.75 million option; symbol ANT on Nasdaq; $26.0 billion private placement; a retail allocation of up to 20% expected by Anthropic; regional offers in the UK, EEA, Switzerland, Japan, Australia and Canada; the financial results above ^{[1][2][4][5][6]}.
• Expected, per Anthropic: pricing on 18 November and trading on 19 November (EST), subject to regulatory clearance ^[3].
• Reported, not in filings: an order book covered at the range ^[7], orders about six times the shares on offer ^[10], and a fully diluted value of up to $1.405 trillion ^[7].
• Unknown: the final price, the first-day trading price, and how many shares any country's retail investors will receive.

The final price and the results of the European offer are to be published at ipo.anthropic.com after pricing ^[4].