Anthropic Sets IPO Price Range at $70 to $78 Per Share on Nasdaq

If priced at the top of the range, Anthropic's offering would raise $64 billion, making it one of the largest US technology IPOs in recent history and a direct test of institutional appetite for...

Anthropic, the San Francisco-based artificial intelligence company, disclosed a price range of $70 to $78 per share for its upcoming initial public offering on the Nasdaq, according to a regulatory filing reported by CNBC and Business Insider on November 10, 2026. At the midpoint of $74 per share, the company would raise approximately $60.5 billion in gross proceeds from the offering.

At the low end of the range, $70 per share, the offering would raise $57 billion. At the high end, $78 per share, it would raise $64 billion. Those figures were calculated directly from the price range disclosed in the regulatory filing cited by Business Insider. The number of shares being offered has not been independently confirmed in the source material available at the time of publication.

The offering is planned for the Nasdaq exchange. Anthropic CEO Dario Amodei is expected to lead the company into the public markets. The company has not issued a formal comment beyond what is contained in the regulatory filing.

According to CNBC, Anthropic's IPO is expected to arrive roughly five months after Elon Musk took SpaceX public in what was described as a record offering. The SpaceX IPO established a recent high-water mark for large US technology listings, and Anthropic's range positions it in similar territory by gross proceeds, though the precise comparison depends on final SpaceX figures that are not detailed in the available source material.

Anthropic was founded in 2021 by Dario Amodei and Daniela Amodei, along with several former OpenAI researchers. The company develops large language models, including its Claude series of AI assistants, which compete directly with products from OpenAI, Google DeepMind, and Meta AI. Its transition to a public company subjects it to Securities and Exchange Commission reporting requirements, including quarterly and annual financial disclosures.

The AI sector has attracted substantial private capital over the past three years. Anthropic previously raised funding rounds at valuations that were not publicly disclosed in the current source material, though the $57 billion to $64 billion range implied by the IPO pricing would represent a significant step in publicly anchoring the company's value. What the implied valuation relative to revenue or earnings per share is remains unknown until the company files a complete prospectus with the SEC, which would contain audited financial statements.

For US investors, the listing creates the first opportunity to hold Anthropic equity through standard brokerage accounts. Prior access was limited to institutional and accredited investors through private funding rounds. The IPO structure, including whether it includes a lock-up period for insiders and existing shareholders, has not been detailed in the current source material. That information would appear in the final S-1 or F-1 registration statement filed with the SEC.

The broader US equity market context matters for the reception of a listing of this scale. Large IPOs in the technology sector have historically been sensitive to prevailing interest rate conditions, because high rates reduce the present value of future earnings, which affects pre-profit companies more acutely than profitable ones. Whether Anthropic is currently profitable is not confirmed in the available source material. The Federal Reserve's current rate posture, as of November 2026, has not been detailed in the source material provided.

Institutional demand signals typically emerge during the roadshow period before final pricing. Anthropic has not disclosed the names of underwriting banks in the available source material. Those names would appear in the registration documents filed with the SEC.

The final IPO price, expected to be set after the completion of the investor roadshow, will determine the actual capital raised. Any revision to the $70 to $78 range, upward or downward, would indicate the direction of institutional demand. That figure will be publicly available through the SEC's EDGAR database when filed.